Triumph Group (NYSE: TGI) reported Q4 EPS of $1.15, versus $0.66 reported last year. Revenue for the quarter came in at $869 million versus the consensus estimate of $844.25 million.

Fourth Quarter Fiscal 2019

• Net sales of $869.0 million
• Operating loss of ($189.2) million with operating margin of (22%); adjusted operating income of $64.0 million with adjusted operating margin of 7%
• Net loss of ($199.6) million, or ($4.01) per share; adjusted net income of $57.8 million, or $1.15 per diluted share
• Cash flow from operations of $18.8 million, and free cash flow was $6.5 million

Full-Year Fiscal 2019

• Net sales of $3.4 billion
• Loss per share of ($6.47); adjusted earnings per diluted share of $2.49, which includes $0.61 from changes in tax valuation allowance
• Cash used in operations was ($174.3) million and free cash use was ($221.4) million

Outlook for Fiscal 2020

• Net sales guidance of between $2.8 to $2.9 billion
• GAAP and adjusted earnings per diluted share of between $2.35 to $2.95
• Free cash flow of between $0 to $50.0 million

"Triumph Group's fourth quarter capped off a year of significant progress for our Company as we delivered on key transformation objectives, including de-risking the portfolio and meeting net sales, earnings per share and positive free cash flow targets," stated Daniel J. Crowley, Triumph\'s president and chief executive officer. "Our core Integrated Systems and Product Support segments achieved year-over-year organic growth for the fifth consecutive quarter and continued to generate solid operating margins. Further, our Aerospace Structures segment delivered year-over-year margin expansion, reflecting the impact of core program performance and strategic divestitures."

Mr. Crowley continued, "Losses in the quarter were primarily attributed to Path to value actions in our Structures business which included the completion of our Machining and Fabrication divestitures, the assignment of the E2 contract to ASTK and the transition of our G280 wing manufacturing activities to IAI. These recent actions, along with our prior divestitures, significant cost reductions and operational improvement initiatives substantially complete our restructuring and position Triumph for the future."

Mr. Crowley concluded, "Moving into fiscal 2020, we now have an increased level of stability across our three business units and believe there is more room to enhance profitability through lean initiatives and smart portfolio optimization. We remain focused on delivering predictable profitability, continued positive free cash flow and increased value for our stockholders."

GUIDANCE:

Triumph Group sees FY2020 EPS of $2.35-$2.95, versus the consensus of $2.44. Triumph Group sees FY2020 revenue of $2.8-2.9 billion, versus the consensus of $2.94 billion.

For earnings history and earnings-related data on Triumph Group (TGI) click here.