Stock Alert: Triumph Jumps 36%

(RTTNews) - Shares of Triumph Group, Inc. (TGI) are climbing more than 36% Thursday after the aerospace manufacturer announced better-than-expected fourth-quarter results today.

Adjusted earnings for the fourth quarter of $0.69 per share beat the average estimate of analysts polled by Thomson Reuters at $0.64.

Sales for the quarter decreased to $693.11 million from $869.03 million last year, beating the consensus estimate at $660.1 million.

Wednesday, the stock gained more than 18% after the company reached a deal to sell its G650/G700 wing business to its customer Gulfstream, a unit of General Dynamics (GD). The company also said it secured purchase orders from Boeing to maintain economical production levels and provide support to its lower-tier supply chain. Triumph and Boeing also resolved open claims and deferred a majority of its advance repayments out of fiscal year 2021.

TGI is currently trading at $11.15 and has traded in the range of $3.02- $29.38 in the last one year.