Fly High with Triumph Group, Over 8.5% YTM, Bonds Mature August 2025

This week, Durig Capital looks to the skies as it reviews an issuer that is focused on the design and manufacture of aircraft parts and systems. Triumph Group has spent the past few years shedding non-core business assets, consolidating locations and streamlining its operations with an eye to cost reductions. Its latest quarterly results showcase its progress on this journey. Its fiscal year 2019 first quarter results included the following:

 

  • A 6.5% increase in net sales as compared to Q1 FY 2018

  • An increase of 126% in adjusted EBITDA as compared to the prior year period.

  • Interest coverage was an outstanding 2.3x for Q1

  • Triumph Group is projecting a 5% increase in net sales in FY 2019.

  • Backlog increased by 5% over the previous year period.