Triumph Group, Inc. (NYSE: TGI) made intraday gains upwards of 15%. The aeronautic parts company surged in share value due to the possibility of lenders allowing for a portion of the company to file for bankruptcy. According to The Wall Street Journal last week, “Embattled aircraft parts maker Triumph Group Inc. has reached an agreement with lenders that paves the way for the company’s Aerostructures business to file for bankruptcy.” This may mean that Triumph Group can shed some burden as analysts have consistently overestimated Triumph’s numbers for the past several quarters.
Triumph’s Fiscal Q4 2017 earnings report is set to be released on May 24, 2017, when the company’s performance will be on view.
Triumph Group designs, engineers, manufactures, repairs and overhauls a broad portfolio of aviation and industrial components, accessories, subassemblies, systems and aircraft structures. They partner with original equipment manufacturers (OEMs) and operators of commercial, regional, business and military aircraft worldwide, to provide products and services that solve their hardest problems. So whatever the part, component or complexity of assembly, Triumph is committed to quality, service and meeting the specialized needs of each customer.