Triumph Group (NYSE: TGI) reported Q4 EPS of $2.81, which may not compare to the analyst estimate of $1.40. Revenue for the quarter came in at $919.9 million versus the consensus estimate of $924.83 million.

• Net sales were $919.9 million for fourth quarter fiscal year 2017.
• Operating income for fourth quarter fiscal year 2017 was $150.8 million, reflecting an operating margin of 16% that excludes a $266.3 million non-cash charge for the impairment of goodwill for Triumph Aerospace Structures.
• Net income for fourth quarter fiscal year 2017 was $139.5 million, or $2.81 per diluted share, excluding the aforementioned impairment charge.
• Fourth quarter fiscal year 2017 results also included transformation related costs of $14.5 million.
• Cash flow from operations for fourth quarter fiscal year 2017 was $454.0 million, and free cash flow was $498.3 million, both of which included an increase in customer advances of approximately $324.0 million.
• For the full fiscal year 2017, sales were $3.5 billion, adjusted earnings per diluted share were $6.54 and free cash flow was $315.7 million.

“Our fourth quarter performance and year-end results reflect continued strength in Integrated Systems and Product Support, improved profitability in Precision Components, as well as mutually-beneficial contract amendments in our Aerospace Structures business,” said Daniel J. Crowley, Triumph’s president and chief executive officer. “Over the past four quarters, we continued to improve program performance and rebuild customer confidence, leading to new business opportunities in both commercial and defense markets. As a result of our One Triumph transformation strategy, we realized new operational and go-to-market efficiencies, growing our backlog sequentially as a result of our enhanced business development efforts. At the same time, we are addressing the operational and financial challenges in Aerospace Structures to better position this business unit for the future.”

“Under our transformation plan, we delivered three consecutive quarters of improved free cash flow and exceeded our fiscal year 2017 cost reduction goals, realizing $69 million in savings which will benefit future years. We anticipate an incremental $70 million in cost savings in fiscal year 2018. Looking ahead, we will continue to enhance shareholder value from a stronger backlog and improved performance across the business.”

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