Why Is Aerospace Company Triumph Stock Tumbling Today?
Why Is Aerospace Company Triumph Stock Tumbling Today?
Triumph Group, Inc. (NYSE:TGI) shares are trading lower after the company reported fourth-quarter FY24 results.
凱旋集團公司（紐約證券交易所代碼：TGI）公佈24財年第四季度業績後，股價走低。
Sales of $358.6 million (+11% Y/Y organically) beat the consensus of $342.1 million. The company reported an adjusted EPS of $0.31, beating the consensus of $0.20.
銷售額爲3.586億美元（同比有機增長11％），超過了市場普遍預期的3.421億美元。該公司報告調整後的每股收益爲0.31美元，超過市場預期的0.20美元。
Backlog was $1.9 billion, up 22% Y/Y, led by commercial OEM platforms. Adjusted operating income was $55.8 million (vs. $46.7 million a year ago), and the adjusted operating margin was 15.6%, up from 14.4% a year ago.
在商業OEM平台的帶動下，待辦事項爲19億美元，同比增長22％。調整後的營業收入爲5,580萬美元（去年同期爲4,670萬美元），調整後的營業利潤率爲15.6％，高於去年同期的14.4％。
Adjusted EBITDAP rose to $58.3 million from $54.2 million in the prior year quarter, and the margin contracted to 16.3% from 16.7% a year ago.
調整後的息稅折舊攤銷前利潤從上一季度的5,420萬美元增至5,830萬美元，利潤率從去年同期的16.7％收縮至16.3％。
Operating cash flow stood at $77.7 million, and free cash flow reached $72.1 million. As of March-end, cash and cash equivalents stood at $392.5 million.
運營現金流爲7,770萬美元，自由現金流達到7,210萬美元。截至3月底，現金及現金等價物爲3.925億美元。
Dan Crowley, chairman, president and chief executive officer, said, "While sales increased in our Interiors business in the fourth quarter, its profit and cash flow continued to lag due to external cost drivers. We expect these headwinds to abate as narrowbody aircraft rates recover. However, TRIUMPH generated positive free cash flow overall and achieved our strongest margins of the fiscal year due to benefits from higher overall sales and strong aftermarket mix."
董事長、總裁兼首席執行官丹·克勞利表示：“儘管我們的內飾業務在第四季度銷售額有所增長，但由於外部成本驅動因素，其利潤和現金流繼續滯後。我們預計，隨着窄體飛機價格的回升，這些不利因素將減弱。但是，得益於整體銷售額的增加和強大的售後市場組合，TRIUMPH總體上創造了正的自由現金流，並實現了本財年最強勁的利潤率。”
FY25 Outlook: Triumph expects net sales of $1.2 billion versus $1.28 billion street view.
25財年展望：凱旋預計淨銷售額爲12億美元，而街景爲12.8億美元。
Triumph now projects an operating income of $140.0 million. Adjusted EBITDAP of $182.0 million, reflecting a 15% adjusted EBITDAP margin.
凱旋現在預計營業收入爲1.4億美元。調整後的息稅折舊攤銷前利潤爲1.82億美元，反映了調整後的息稅折舊攤銷前利潤率爲15％。
Triumph projects a cash flow from operations outlook of $30.0 million-$50.0 million.
Triumph預計，運營前景產生的現金流爲3000萬至5000萬美元。
Crowley added, "Our fiscal 2025 guidance reflects the strength of TRIUMPH's portfolio, helping to offset short-term end market headwinds, while enabling improvement across our key financial metrics, notably an estimated 300 basis point expansion in Adjusted EBITDAP margins."
克勞利補充說：“我們的2025財年指引反映了TRIUMPH投資組合的實力，有助於抵消短期終端市場的不利因素，同時使我們的關鍵財務指標得以改善，尤其是調整後的息稅折舊攤銷前利潤率估計增長了300個點子。”
"With the anticipated market demand from the coming aerospace and defense upcycle, we expect to deliver top and bottom-line growth rates at or above the market as we benefit from a focus on OEM and related aftermarket product lines."
“隨着即將到來的航空航天和國防升級週期的預期市場需求，我們預計收入和利潤增長率將達到或高於市場，因爲我們受益於對OEM和相關售後市場產品線的關注。”
Investors can gain exposure to the stock via Gabelli Commercial Aerospace And Defense ETF (NYSE:GCAD).
投資者可以通過加貝利商業航空航天與國防ETF（紐約證券交易所代碼：GCAD）獲得股票敞口。
Price Action: TGI shares are down 13.5% at $12.98 at the last check Thursday.
價格走勢：在週四的最後一次檢查中，TGI股價下跌13.5％，至12.98美元。
Photo via Wikimedia Commons
照片來自維基共享資源