Triumph Group Earnings: Beats the Street on Profit Rise

Triumph Group Inc. (NYSE:TGI) reported net income above Wall Street’s expectations for the second quarter. Triumph Group designs, engineers, manufactures and sells products for the aviation and aerospace industries.

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Triumph Group Inc. Earnings Cheat Sheet

Results: Net income for Triumph Group Inc. rose to $80.2 million ($1.53 per share) vs. $58.5 million ($1.13 per share) in the same quarter a year earlier. This marks a rise of 37.1% from the year-earlier quarter.

Revenue: Rose 18.7% to $938.2 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Triumph Group Inc. beat the mean analyst estimate of $1.32 per share. It beat the average revenue estimate of $888.6 million.

Quoting Management: Commenting on the company’s performance and its outlook for fiscal year 2013, Jeffry D. Frisby, Triumph’s President and Chief Executive Officer, said, “The second quarter was another great quarter for Triumph highlighted by increased revenue, record operating income and year over year margin expansion. Our backlog, which represents an ideal mix of programs across our end markets, is very strong and is testimony to our diverse product offering and our operating model. “Based on the strong year-to-date performance, current production rates and a weighted average share count of 52.5 million shares, we are reaffirming our revenue guidance for fiscal year 2013 of $3.5 to $3.7 billion and are raising our full year earnings guidance to earnings per share from continuing operations of approximately $5.95 per diluted share, excluding integration costs and early retirement incentives.”

Key Stats:

The company has now seen its net income increase for three consecutive quarters. In the first quarter, net income rose 52% and in the fourth quarter of the last fiscal year, the figure rose more than twofold.

The company has now surpassed analyst estimates for four quarters in a row. It beat the mark by 19 cents in the first quarter, by 26 cents in the fourth quarter of the last fiscal year, and by 17 cents in the third quarter of the last fiscal year.

Revenue has increased for four quarters in a row. Revenue increased 5% to $887.7 million in the first quarter. The figure rose 3% in the fourth quarter of the last fiscal year from the year earlier and climbed 1.9% in the third quarter of the last fiscal year from the year-ago quarter.

Looking Forward: Expectations for the company’s next-quarter performance are more favorable than they were a month ago. The average estimate for the third quarter is now at $1.40 per share, up from $1.40. Over the past three months, the average estimate for the fiscal year has climbed from $5.74 per to share to $5.78.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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