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Triumph Group Inc. (TGI-0.16%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in net sales to $315.6 million from $285.0 million in the same quarter the previous year. This increase was primarily driven by growth in military OEM and aftermarket sales.
Operating income for the quarter was reported at $39.3 million, compared to $19.7 million in the previous year. The increase was attributed to improved gross profit margins and increased aftermarket sales.
Net income for the quarter was $14.6 million, or $0.19 per diluted share, compared to a net loss of $15.9 million, or ($0.20) per diluted share, in the previous year. The improvement was mainly due to increased sales and operating income.
Cash used in operating activities was $109.8 million for the nine months ended December 31, 2024, compared to $68.3 million in the same period the previous year. The increase in cash outflow was due to changes in working capital, including inventory increases and timing of receivables and payables.
The company reported a backlog of $1.87 billion as of December 31, 2024, with approximately $1.19 billion expected to be shipped by December 31, 2025.
Triumph Group announced a proposed merger with affiliates of Warburg Pincus LLC and Berkshire Partners LLC, expected to close in the second half of 2025, subject to customary closing conditions.
The filing also details legal proceedings, including disputes related to past divestitures and environmental remediation liabilities.
Triumph Group continues to focus on its core aerospace business, with significant developments in key programs such as the Boeing 737 and military platforms like the V-22 and CH-53.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Triumph Group Inc. quarterly 10-Q report dated February 6, 2025. To report an error, please email earnings@qz.com.