Triumph Group raises FY23 adjusted EPS view to 48c-68c from 40c-60c

Consensus 50c. Raises FY23 revenue view to $1.3B-$1.35B from $1.3B, consensus $1.31B. The company said, "The Company’s outlook reflects adjustments detailed in the attached tables. The Company expects net sales for fiscal 2023 will be $1.30 billion to $1.35 billion, up from prior guidance of approximately $1.3 billion. The Company expects GAAP fiscal 2023 earnings per diluted 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, and adjusted earnings per diluted share of $0.48 to $0.68, up from prior guidance of $0.40 to $0.60 on increased sales. The Company expects fiscal 2023 cash used in operations of ($30.0) million to ($40.0) million and approximately $25.0 million for capital expenditures, resulting in expected free cash use of ($55.0) million to ($65.0) million, improved from prior guidance of ($60.0) million to ($70.0) million."