Triumph Group, Inc. (NYSE: TGI) experienced a modest increase in its share price during the recent trading session, with a rise of $2.94, bringing the stock value to $13.64. This upward trajectory occurred without significant news on the day but follows the release of the company’s financial results last week, coupled with a notable sustainment agreement.
Consistent Sales Growth and Financial Strength
Triumph Group (TGI) marked its ninth consecutive quarter of year-over-year sales growth, driven largely by a 42% increase in commercial aftermarket sales within its Intellectual Property (IP)-based business. This robust performance effectively counterbalanced temporary challenges faced by commercial Original Equipment Manufacturers (OEMs) and supply chain disruptions.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Additionally, the company made significant strides in fortifying its financial position by retiring $120.0 million in debt during the quarter. This financial prudence earned Triumph Group credit rating upgrades from the agencies monitoring its progress.
Extended Partnership with Lockheed Martin
In a strategic move to bolster its presence in the defense sector, Triumph Group announced the extension of its repair and technical support agreement with Lockheed Martin. This agreement, under the F-35 Joint Strike Fighter fleet readiness program, will see Triumph’s Actuation Products & Services business, located in Clemmons, North Carolina, providing engineering and material support over the next five years.
Since 2014, Triumph Group has been an essential partner in the F-35 program, providing both original equipment and aftermarket Hydraulic Utility Actuation Valves (HUAV). Beginning in 2021, Triumph Group will also play a larger role in delivering aftermarket components for military depot operations.
Triumph Group’s technical competence and expanding presence in the military aftermarket sector are highlighted by their continued relationship with Lockheed Martin, specifically in support of sustainment activities at Marine Corps Air Station Cherry Point. Triumph Group’s Clemmons facility, a pioneer in hydraulic power production and actuation, is well situated to provide outstanding service over the ensuing five years.
