Triumph Group (NYSE: TGI) reported Q4 EPS of $0.10, $0.02 better than the analyst estimate of $0.08. Revenue for the quarter came in at $466.8 million versus the consensus estimate of $436.26 million.

Fourth Quarter Fiscal 2021

• Net sales of $466.8 million
• Operating loss of $46.2 million with operating margin of (10%); adjusted operating income of $32.9 million with adjusted operating margin of 7%
• Net loss of $73.5 million, or ($1.27) per share; adjusted net income of $5.7 million, or $0.10 per diluted share
• Cash flow provided by operations of $22.8 million; free cash flow of $16.6 million

"As the pandemic recovery progressed, we generated cash for the second consecutive quarter demonstrating strong management of working capital, improving margins from our core operations due to increased efficiencies and the benefits of robust cost reduction actions," stated Daniel J. Crowley, Triumph's chairman, president and chief executive officer. "Profitability on an adjusted basis improved sequentially in the quarter, showing measurable recovery towards pre-COVID levels across both business units. As Triumph accelerates our organic growth, we remain committed to conserving cash and partnering with our customers to deliver value to all our stakeholders."

Mr. Crowley continued, "For the third consecutive quarter, we increased revenues in our core Systems & Support business driven by higher military volumes and continued aftermarket recovery. Consolidated organic revenue in the quarter decreased compared to the prior year period due to the exit from and expected declines in certain Aerospace Structures programs as part of our portfolio transformation, as well as the ongoing impact of the COVID-19 pandemic. We continued to hit our transformation milestones and completed the sale of our Composites and Military structures operations earlier this month. Furthermore, our at-the-market equity raise in the fourth quarter bolstered our liquidity position and provides additional capital to support growth."

Outlook

Due to the uncertainty around the impacts of business disruptions related to the COVID-19 pandemic on the global market and general economic conditions, the Company is not providing financial guidance for its fiscal year ending March 31, 2022 at this time.

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