tgicomm@triumphgroup.com
News
TRIUMPH ANNOUNCES NOTICE TO WARRANT HOLDERS OF INTENDED REDEMPTION
Triumph Group, Inc. ("TRIUMPH" or the "Company") (NYSE:TGI) today announced that, pursuant to the terms of the warrants ("Warrants") it previously issued, the Company intends to issue a notice of redemption to all Warrant holders on or about June 16, 2023. Warrant holders continue to be able to choose to exercise their Warrants with Designated Notes (as defined below) or cash. After the close of business on the date notice of redemption is issued, such holders will only be able to exercise their Warrants with cash until the redemption date. The redemption date will be stated in the notice of redemption and will not be less than 20 calendar days after such notice. This press release does not constitute a notice of redemption of the Warrants. On December 1, 2022, TRIUMPH issued the Warrants to all holders of its common stock ("Common Stock"). Each Warrant represents the right to purchase one share of Common Stock at an exercise price of $12.35 per Warrant, subject to certain
TRIUMPH AWARDED MOST IMPROVED SUPPLIER OF THE YEAR
Triumph Group, Inc. (TRIUMPH) [NYSE:TGI] is pleased to announce that its Product Support facility in Wellington, Kansas has been awarded the 2022 Most Improved Supplier from Collins Aerospace Power & Controls. In 2021, TRIUMPH Product Support became Collins Aerospace's sole Maintenance, Repair and Overhaul (MRO) supplier on select air cycle machines. TRIUMPH expanded their capabilities, processes, and supply chain infrastructure to support Collins increased demand and turnaround time requirements. "The 2022 Most Improved Supplier Award from Collins Aerospace is a reflection of TRIUMPH's unique capabilities in complex aircraft component overhaul and our team's commitment to improve quality and turn around," said Jim Berberet, President of TRIUMPH Product Support. "The team will continue to support Collins and all TRIUMPH customers with the highest quality, performance, and service in the industry." TRIUMPH Product Support provides maintenance, repair, and overhaul (MRO) services
TRIUMPH ADVANCES BOARD REFRESHMENT
Triumph Group, Inc. (NYSE: TGI) ("TRIUMPH" or the "Company") today announced the following changes to its Board of Directors as part of the Board's ongoing refreshment program: Patrick E. Allen has been nominated as an independent director for election at the Company's 2023 Annual Meeting of Stockholders (the "Annual Meeting"). Beginning today, Mr. Allen will serve as a non-voting Board Observer until he is elected to the TRIUMPH Board. In connection with a cooperation agreement (the "Agreement") with Vision One Management Partners, LP ("Vision One"), Courtney R. Mather , CEO and CIO of Vision One, has also been nominated as an independent director for election at the Annual Meeting. Beginning today, Mr. Mather will serve as a non-voting Board Observer until he is elected to the TRIUMPH Board. General Larry O. Spencer will retire from the TRIUMPH Board, effective as of the Annual Meeting, following 5 years of service, including significant contributions made as Chair of the Board's
TRIUMPH AWARDED LONG TERM LEAP CONTRACT WITH GENERAL ELECTRIC
Triumph Group, Inc., (TRIUMPH) [NYSE:TGI] today announced that its Geared Solutions business has been awarded a long term agreement from General Electric (GE) on the Inlet Gearboxes (IGB) for LEAP-1A, LEAP-1B and LEAP-1C programs. This work will be performed at the TRIUMPH Geared Solutions facility in Macomb, Michigan. TRIUMPH has partnered with GE on LEAP and CFM56 IGBs for over 35 years, shipping over 25,000 gearboxes to date, and with this contract extension, TRIUMPH will supply thousands of IGB's annually to GE into the next decade. "With this award, TRIUMPH remains GE's preferred partner for Inlet Gearboxes in the single aisle market," said Pete Gibson, President of TRIUMPH Geared Solutions. "This extension is the result of TRIUMPH's investment in production capacity and the Macomb team's quality, schedule, and cost performance across a wide range of gear and gearbox applications on GE engines. I appreciate the trust GE places in TRIUMPH Geared Solutions to support the
TRIUMPH REPORTS FOUTH QUARTER FISCAL 2023 RESULTS
Triumph Group, Inc. (NYSE: TGI) ("TRIUMPH" or the "Company") today reported financial results for its fourth quarter and fiscal 2023, which ended March 31, 2023. Fourth Quarter Fiscal 2023 Net sales of $393.3 million Operating income of $56.2 million with operating margin of 14%; adjusted operating income of $59.9 million with adjusted operating margin of 15% Net loss of ($17.5) million, or ($0.27) per share; adjusted net income of $34.5 million, or $0.39 per diluted share Adjusted EBITDAP of $68.1 million with Adjusted EBITDAP margin of 17.3% Cash flow generated from operations of $60.0 million; free cash flow of $51.8 million Fiscal 2023 Net sales of $1.38 billion Operating income of $238.1 million with operating margin of 17%, including $101.5 million gain on sale from our Stuart, Florida business; adjusted operating income of $158.7 million with adjusted operating margin of 11% Net income of $89.6 million, or $1.20 per diluted share; adjusted net income of $55.4 million, or $0.77
TRIUMPH AWARDED MULTI YEAR CONTRACT FROM ITP AERO
Triumph Group, Inc. (TRIUMPH) (NYSE: TGI) today announced that its Product Support business in Grand Prairie, Texas has been awarded a multi-year contract with ITP Aero, a tier one engine Original Equipment Manufacturer (OEM), to provide Maintenance, Repair and Overhaul (MRO) support on accessory components including propeller gearboxes, hydromechanical units, oil scavenge and fuel boost pumps, anti-icing and overspeed drain valves. "This award from ITP will allow TRIUMPH to support a broader series of airframe applications with the CT7 and T700 platforms and expand our global reach with operators, armed forces and OEM's," said Jim Berberet, President, TRIUMPH Product Support. "Our relationship with ITP Aero will serve as the foundation to explore other engine platform opportunities across the market." ITP Aero, headquartered in Zamudio, Spain, is a leader in the aeronautical and industrial engines market, involved in all phases of the product life cycle, all the way from the design
TRIUMPH ANNOUNCES NOTICE TO WARRANT HOLDERS OF INTENDED REDEMPTION
Triumph Group, Inc. ("TRIUMPH" or the "Company") (NYSE:TGI) today announced that, pursuant to the terms of the warrants ("Warrants") it previously issued, the Company intends to issue a notice of redemption to all Warrant holders on or about June 16, 2023. Warrant holders continue to be able to choose to exercise their Warrants with Designated Notes (as defined below) or cash. After the close of business on the date notice of redemption is issued, such holders will only be able to exercise their Warrants with cash until the redemption date. The redemption date will be stated in the notice of redemption and will not be less than 20 calendar days after such notice. This press release does not constitute a notice of redemption of the Warrants. On December 1, 2022, TRIUMPH issued the Warrants to all holders of its common stock ("Common Stock"). Each Warrant represents the right to purchase one share of Common Stock at an exercise price of $12.35 per Warrant, subject to certain
TRIUMPH AWARDED MOST IMPROVED SUPPLIER OF THE YEAR
Triumph Group, Inc. (TRIUMPH) [NYSE:TGI] is pleased to announce that its Product Support facility in Wellington, Kansas has been awarded the 2022 Most Improved Supplier from Collins Aerospace Power & Controls. In 2021, TRIUMPH Product Support became Collins Aerospace's sole Maintenance, Repair and Overhaul (MRO) supplier on select air cycle machines. TRIUMPH expanded their capabilities, processes, and supply chain infrastructure to support Collins increased demand and turnaround time requirements. "The 2022 Most Improved Supplier Award from Collins Aerospace is a reflection of TRIUMPH's unique capabilities in complex aircraft component overhaul and our team's commitment to improve quality and turn around," said Jim Berberet, President of TRIUMPH Product Support. "The team will continue to support Collins and all TRIUMPH customers with the highest quality, performance, and service in the industry." TRIUMPH Product Support provides maintenance, repair, and overhaul (MRO) services
TRIUMPH ADVANCES BOARD REFRESHMENT
Triumph Group, Inc. (NYSE: TGI) ("TRIUMPH" or the "Company") today announced the following changes to its Board of Directors as part of the Board's ongoing refreshment program: Patrick E. Allen has been nominated as an independent director for election at the Company's 2023 Annual Meeting of Stockholders (the "Annual Meeting"). Beginning today, Mr. Allen will serve as a non-voting Board Observer until he is elected to the TRIUMPH Board. In connection with a cooperation agreement (the "Agreement") with Vision One Management Partners, LP ("Vision One"), Courtney R. Mather , CEO and CIO of Vision One, has also been nominated as an independent director for election at the Annual Meeting. Beginning today, Mr. Mather will serve as a non-voting Board Observer until he is elected to the TRIUMPH Board. General Larry O. Spencer will retire from the TRIUMPH Board, effective as of the Annual Meeting, following 5 years of service, including significant contributions made as Chair of the Board's
TRIUMPH AWARDED LONG TERM LEAP CONTRACT WITH GENERAL ELECTRIC
Triumph Group, Inc., (TRIUMPH) [NYSE:TGI] today announced that its Geared Solutions business has been awarded a long term agreement from General Electric (GE) on the Inlet Gearboxes (IGB) for LEAP-1A, LEAP-1B and LEAP-1C programs. This work will be performed at the TRIUMPH Geared Solutions facility in Macomb, Michigan. TRIUMPH has partnered with GE on LEAP and CFM56 IGBs for over 35 years, shipping over 25,000 gearboxes to date, and with this contract extension, TRIUMPH will supply thousands of IGB's annually to GE into the next decade. "With this award, TRIUMPH remains GE's preferred partner for Inlet Gearboxes in the single aisle market," said Pete Gibson, President of TRIUMPH Geared Solutions. "This extension is the result of TRIUMPH's investment in production capacity and the Macomb team's quality, schedule, and cost performance across a wide range of gear and gearbox applications on GE engines. I appreciate the trust GE places in TRIUMPH Geared Solutions to support the
TRIUMPH REPORTS FOUTH QUARTER FISCAL 2023 RESULTS
Triumph Group, Inc. (NYSE: TGI) ("TRIUMPH" or the "Company") today reported financial results for its fourth quarter and fiscal 2023, which ended March 31, 2023. Fourth Quarter Fiscal 2023 Net sales of $393.3 million Operating income of $56.2 million with operating margin of 14%; adjusted operating income of $59.9 million with adjusted operating margin of 15% Net loss of ($17.5) million, or ($0.27) per share; adjusted net income of $34.5 million, or $0.39 per diluted share Adjusted EBITDAP of $68.1 million with Adjusted EBITDAP margin of 17.3% Cash flow generated from operations of $60.0 million; free cash flow of $51.8 million Fiscal 2023 Net sales of $1.38 billion Operating income of $238.1 million with operating margin of 17%, including $101.5 million gain on sale from our Stuart, Florida business; adjusted operating income of $158.7 million with adjusted operating margin of 11% Net income of $89.6 million, or $1.20 per diluted share; adjusted net income of $55.4 million, or $0.77
TRIUMPH AWARDED MULTI YEAR CONTRACT FROM ITP AERO
Triumph Group, Inc. (TRIUMPH) (NYSE: TGI) today announced that its Product Support business in Grand Prairie, Texas has been awarded a multi-year contract with ITP Aero, a tier one engine Original Equipment Manufacturer (OEM), to provide Maintenance, Repair and Overhaul (MRO) support on accessory components including propeller gearboxes, hydromechanical units, oil scavenge and fuel boost pumps, anti-icing and overspeed drain valves. "This award from ITP will allow TRIUMPH to support a broader series of airframe applications with the CT7 and T700 platforms and expand our global reach with operators, armed forces and OEM's," said Jim Berberet, President, TRIUMPH Product Support. "Our relationship with ITP Aero will serve as the foundation to explore other engine platform opportunities across the market." ITP Aero, headquartered in Zamudio, Spain, is a leader in the aeronautical and industrial engines market, involved in all phases of the product life cycle, all the way from the design
