Triumph Group may revamp financial reporting after divestitures

US-based Triumph Group is considering revising how it reports its financial results to reflect a series of recent divestitures, company officials said on 9 February.

Triumph currently breaks out the results of its two business units: Systems & Support and Aerospace Structures. However, Aerospace Structures has shrunk dramatically because of divestitures, leaving it accounting for only about a quarter of Triumph's sales.

One potential change under consideration is to report the results of Systems & Support's five operating companies, each of which has annual sales of USD200 million–USD300 million. Triumph executives plan to discuss the matter with their board of directors later this month.

Triumph has been pursuing divestitures to exit the manufacturing of large aircraft structures and focus on the more lucrative area of providing systems and aftermarket services. With the final aerostructures divestiture expected to close in the first half of 2022, the remaining portion of Triumph's Aerospace Structures business will concentrate on providing products for aircraft interiors.