Triumph Group Back In Black, Beats Estimates; Ups Outlook Above View

(RTTNews) - Triumph Group, Inc. (TGI), a supplier of aerospace services, structures, systems and support, Tuesday reported profit in the second quarter, compared with a loss in the previous -year period, helped by gain on sale of assets and businesses.

The company logged a profit of $106.53 million or $1.63 per share in the second quarter, compared with a loss of $9.07 million or $0.14 per share in the same quarter a year ago.

Triumph had a gain on sale of assets and businesses of $103.88 million in the latest quarter, compared with loss of 7.66 million last year.

Excluding one-items, earnings were $4.8 million or $0.07 per share, that beat the average estimate of analysts polled by Thomson-Reuters of breakeven per share.

Sales for the quarter declined to 307.66 million from $357.4 million last year. The consensus estimate was for $297.87 million.

Looking forward to the full year, the company has raised its adjusted EPS outlook to $0.40-$0.60, from prior guidance of $0.28-$0.48, due to final pension assumptions. Analysts' expectation is for $0.36 per share.

Sales for the full year is expected to be about $1.3 billion. The consensus estimate for sales stands at $1.29 billion.