(RTTNews) – Triumph Group, Inc. (TGI), a supplier of aerospace and defense systems and support, on Wednesday trimmed its fiscal 2023 reported earnings forecast, but raised outlook for adjusted earnings and sales.
For the year, the company now expects earnings per share of $1.59 to $1.79, down from prior guidance of $1.66 to $1.86 due to additional share count from the warrant distribution.
Adjusted earnings per share is now expected to be $0.48 to $0.68, higher than prior guidance of $0.40 to $0.60 on increased sales.
The company now expects net sales for fiscal 2023 will be $1.30 billion to $1.35 billion, up from prior guidance of approximately $1.3 billion.
On average, nine analysts polled by Thomson Reuters expect earnings of $0.50 per share on sales of $1.31 billion for the year. Analysts’ estimates typically exclude special items.
In the third quarter, net income was $10.95 million or $0.08 per share, compared to $7.24 million or $0.11 per share last year. Adjusted net income was $8.3 million, or $0.12 per share for the period.
Net sales of $328.86 million grew from $319.25 million a year ago.
Analysdts expected earnings of $0.11 per share on sales of $308.13 million for the quarter.
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Source : Nasdaq