Tue, Jul. 14, 12:27 PM
- Triumph Group (TGI -2.1%) is downgraded to Sell from Neutral with a $58 price target, down from $61, at UBS, which does not think the stock is as cheap as it appears given a challenging growth outlook.
- UBS says TGI appears attractive on valuation, but notes that a significant portion of the company's earnings are non-cash, principally amortization of contract liabilities and pension income.
- The firm expects a difficult growth profile with a likely delay for the Global 7000 and 8000, one of TGI's few growth opportunities, and it sees free cash flow well below net income for the next several years on Gulfstream, 747-8 and increasing cash taxes.
Dec. 9, 2014, 8:35 AM
- Spirit AeroSystems (NYSE:SPR) has reached an agreement to transfer its Gulfstream G650 and G280 wing programs in Tulsa, Oklahoma to Triumph Group (NYSE:TGI).
- Under the terms of the agreement, Triumph will receive $160M in cash plus assets required to run the business from Spirit to cover the anticipated future cash flow needs of the programs.
- The transaction is an estimated loss in the range of $205M-$235M ($1.45-$1.65 per diluted share) and is expected to close in 2014.
- SPR -3% premarket
Oct. 17, 2014, 2:57 PM
- Triumph Group (TGI +1.7%) earlier announced the acquisition of North American Aircraft Services, a provider of aviation maintenance, repair and overhaul services focused primarily on plane-side aircraft fuel systems.
- TGI expects the business to add ~$35Myear in revenues and to be immediately accretive to earnings.
- Financial terms are not disclosed.
Jan. 29, 2014, 12:46 PM
Sep. 18, 2013, 3:49 PM
- Boeing supplier Triumph Group (TGI -8.4%) says it will likely book ~$68M in pre-tax additional program costs in FY14 thanks to "reductions to the profitability estimates of the current 747-8 production lot."
- The costs will be spread out as follows: FQ2, $0.53/share; FQ3, $0.14/share; FQ4, $0.16/share.
- CEO Jeffry Frisby is "disappointed in [TGI's] recent execution on the 747 program," but notes that the company has "already taken several actions, including the development of a detailed game plan to reduce cost and improve quality and on-time delivery in a sustainable way." (PR)
Sep. 18, 2013, 12:49 PM
Jan. 18, 2013, 4:08 PMUnited Technologies (UTX +0.5%) finishes the day in the green after announcing earlier that it's reached an agreement to sell its former Goodrich pump and engine control systems business to Triumph Group (TGI +3.8%). The deal is expected to close in Q113. The sale of the unit was one of the divestitures required by regulatory authorities as a condition of UTX's acquisition of Goodrich Corporation. | Jan. 18, 2013, 4:08 PM | Comment!
Sep. 14, 2012, 2:25 PMAircraft component maker Triumph Group (TGI +2.3%) moves higher after Credit Suisse called it "one of the most compelling names in commercial aerospace," and boosted its forecast after meeting with management. The firm says it's increasingly confident with the company's margins, and thinks consensus estimates will be upped in FY13. | Sep. 14, 2012, 2:25 PM | Comment!
Nov. 8, 2011, 9:05 AMPremarket gainers: MSSR +28%. DYN +20%. YPF +7%. BCRX +9%. NBG +6%. ING +6%. DRYS +6%. SIG +6%. FRO +6%. LYG +5%. RAX +5%. RENN +5%. GTAT +4%. PLCM +4%. NVO +3%. ASML +3%. ATVI +3%. DNDN +3%. AMRN +3%. HFC +3%. JEF +3%. EK +3%.
Losers: TRGT -55%. AMLN -9%. JRCC -7%. ALLT -7%. FOSL -7%. LGCY -5%. TGI -5%. PXD -4%. ETP -4%. INHX -3%. ALU -3%. URBN -3%. AZN -3%. | Nov. 8, 2011, 9:05 AM | Comment!
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