Daniel J. Crowley
to Systems reported third Earlier and up call. momentum our the year-over-year revenue welcome earnings you was fiscal of X% across our quarter results the Thank strong line over expectations. year XXXX Organic Integrated three strong segments, everyone sales Kevin grew year. with with QX in business in we which for all prior morning, this the
this systems higher Airbus commercial aftermarket by quarter programs in growth volume The and rotocraft. demand driven was increases on for military
of strong growth result demand for increased organic as year-over-year. engine of Our Aerospace Support a X% overhaul. Structures grew Product delivered year-over-year business accessories X%
been margins in future from in this We benefit continued down that past the quarters to wind expect and programs headwinds legacy to have work.
rate year remain we MAX guided. as we despite and fiscal achieved XXXX cash year-to-date. our a was for Boeing XX% divestiture. cash about X% revenue for Services over organic prior positive to these quarter while and QX flow free XXX results a in reductions was Nashville up MRO Free consolidated and was on Triumph on basis, Company-wide year. deliver sales flow of positive up And spares the track
Quarterly cash million. $XX flow improved year-over-year by
As stable loss structures and making improved healthy from programs over and cash million. at exited flow remains we $XXX operations. Liquidity
stable Our margins all in three quarter. remain year-over-year up operating or businesses the in were
efforts Bottom portfolio stabilized as and more financial as strengthened have results we comprehensive cost line, our our a become year-over-year cash our in efficient focused restructuring and reflected company. flows Triumph’s
visibility, its to decision on I to transparency on suspend and plans. Boeing’s provide the want assembly temporarily XXX Given of Triumph on comment mitigation and to impact the our final MAX
Triumph try pause counterparts. The managing remains approach as for close taken to to issue. And a the few is Boeing minimal a reasons. this production MAX a of contact proactive with we've impact
and XX any First, of two of product produce impact the the these for from of Triumph’s six diversified at platform these rate more plants remain portfolio factories of just aircraft, than our MAX the and on for demand revenue other minimizes MAX, derive hardware products the XX% only six one reductions strong.
agreement the supply suppliers. to and reached levels at Boeing protect preserve and MAX components we with Second, supply of near-term production to to capabilities continuity critical reduced in
operational and We and over impacts. levels to minimize financial management production time the chain have adjust staffing and in supply flexibility
of As MAX year, represents our last single-digit disclosed a revenue. in percentage historically the XXX annual
to mitigations less the be sales than to X% expects the in reductions cash. the similar FYXX with With impact of company rate above, impacts of income now operating and
offset and deferrals in capital perspective, manage we'll reduced closely these cash through declines liquidation consistent working our volumes continue and our fourth to customer advances. of quarter a From with we MAX
a solutions relationship to business our address Our benefit. has number to certain remains advanced XXXX company for agreed and explore strong mutual with fiscal considerations balanced including Boeing of liquidations also
industry through individual Our cyclicality. and diversified backlog remains key to working programs
overall operations company shift the its backlog profitability of of the the XX remaining through divestiture months, of in in achieved the the last build-to-print the improve the X, quality a Page overall non-core dramatic to company backlogs. meaningfully Turning
Our the production as the into programs Wing and will mix loss Boeing such and sunset profitability as backlog making programs year. this improve GXXX calendar development further transition XXX we and fuselage later
markets commercial gross in margins. have predictably than more total growth military both backlog end actions become and reductions enabling offset strong in Last, rate profitable. Together, recent are to the and these Triumph
to our and touch on want Systems Support core business I Integrated units. Product
work We across to given a segments content. resulted execute new backlog, quarter-over-quarter. increase these in aftermarket XX% our and competitiveness, selectively sales work units margin our in continue to on strategy higher Collaboration these pursue increase to their spares strengthen particularly MRO in
new market a from We as on evolving through and strong we're platforms transactions winning business enjoying one-off partnerships result growth. strategic carriers and are with OEMs
the new Airbus's is and just in Systems launch, XXX that than the announced six Airbus lessors XLR commitments more operators of logged after world. to from Integrated months and benefiting AXXXXLR. positive December from they've market the orders for XXXX, around response
design Wins the the include uplock for new quarter the gear third build Page and system for X, on of landing AXXXXLR. a
design reduces provider critical requirement and XX,XXX increases uplocks fielded Airbus's today. and on premier than count innovative reliability landing of up to satisfy which wins gear confirmation. for across commercial Triumph This military and legacy more locked Our solution with a part as an uplocks builds employs our applications,
expect The partnership In help on this joint our new created opportunities newer entering Product yielding global already with just with the Support, value proposition. who phase. is announced network our MRO through we're which forward venture fuel recognize with our moving France we aircraft, airlines Air to KLM, previously growth
our Support has several is content from Product by proposals combined Air our Our this and France XX%. divisions increased year-over-year on working sales volume with Integrated with airline Systems and KLM team both
support also included Pratt wins Whitney Technic their QX nacelles. contract with Our Support an XXXX & Turkish on onsite Product in
and of aftermarket reported in quarter. benefits this systems producing and investment I'm confident continue. readiness space will and the the aftermarket the across Integrated focus expansion Triumph. of trend tangible growth Reflecting on MRO XX% positive is prior in the Our revenue over results in collaboration DoD’s sales
our choosing and appreciate Support Triumph to the to presence Triumph with to shop part satisfy rotable carriers which market delivery increase customers the launch continues business, third-parties. the after components trading timely their throughput, expand of it’s Product of are than for demands overhauling repaired directly Airline the of allows through our a rather quality MRO growing fleets. and us Triumph
offers was customer support was XX/X now on Triumph and the up customer QX where up center single-point support new November. basis. Triumph first our a running one-stop, access to since quarter with XXX% inquiries
rotable Our to near Warehouse serve readily market the better and customers located Latin with recently provide allow International announced Rotable America Airport will available Miami us the assets. our
Australia, a our Eastern. and strong Virgin China India, at Support remains the sales structures In market awards Airlines new Air Tigerair received for awards multiple Triumph. Product Asia Pacific group from including Asia for quarter, Australia,
business our expanding serve capabilities accessory growing country structures have Thailand in in our We are and a customers. engine better to
the reduce teams Across higher multi-year journey to since has better processes, XXXX. inventory, standardize same business we are and expand over winning margins drive through manage year results. time, to new Triumph, and systems our At continue on efficiency fiscal our streamlined operations. costs to executing XX% which We've a in by been and declined
This their remains quarter. adoption build customers, statistical are quality external we're quality and the during implementing raising important, important manufacturing that process our on into work And audits the suppliers and the product company-wide auditors. proud in and Sigma customers process partnership quality sites certification variability Six held enhance our While the an through control I'm reliability. report and all reliability. reducing with system ultimately of product pass to bar affordability is done enterprise In to and Triumph response,
and Connecticut The In Maryland electronics facility systems in into fiscal paying-off. the started larger in completed year facility are of our consolidations integration control XXXX we QX, our thermal facility.
electronics We helping business. systems expect and synergies to savings margins Forest, improve also in control design, lines. integrated where heat in manufacture thermal management the and margins The and exchangers our enhance to both cost Ohio, and product products support we is systems specialized side across
wind-down the which be our million are and structures Prairie, late primarily exited. A plant California few in Aerospace two by our to plans business large Growth lost the Boeing on updates lease close from space, which at year-to-date underway feet our which remain QX, programs. Hawthorne, XXX structures base the transferred plant. perform offset was track in Structures revenue X.X over Grand business, cover supply In engineering XXXX. associated continues of a plant sunsetting services, to in structures work the plants on will with to we Similar square well. enabled These we Texas
our Recall completed complete XX on remaining we produce only QX, contract. under XXXX transfer the second more program wrap-up EX the fiscal by year now on and on-track In shipsets last fuselage only to to we deliveries ASTK favorable The in wing quarter of Korea's and remains rudders QX. elevators with the GXXX of terms. the the
of than plastics. granted thermoplastic intellectual Having reinvent to they contract itself and all multiple XX win. for induction they Airbus patents and Triumph welding in continues thermoplastics more Group now They property are to been specifications. Boeing recently thermal qualified Structures materials, develop innovative As
develop to first the and Triumph air in-flight, technology, use Embraer jointly this industry. worthiness of a and will structure agreement a thermoplastic announced which primary for demonstrate also a cooperative the
Our commercial leading Boeing interiors duct feet multiple linear platforms, remain displacing environmental system We on team shipset composite an their than Boeing for more increased ducting for XXX,XXX annually. composite control content the incumbent. aircraft provider providing
cost enabling deliverable also scale plant structure interiors recently of is benefits. component Airbus's and part that Airbus rate will Tomorrow part completed thermoplastic for program. of This support full of its fabrication Spokane primary first weight the while Our large a Wing providing objectives technology
our structures continued of business, of the in our business QX progress part divestiture in our As strategic of December. late Nashville review with structures
reductions to rightsize business are as temporary the on rate using the well. MAX interiors We our
in capability to manufacturing need this our activities we at MAX decline, consolidate reductions. later Zacatecas year. our the composites rate We long-term volumes our maintain location. facility, and already have which Mexicali production presence facility us has this our Zacatecas, manufacturing less Zacatecas there's remaining to plant California to to offsetting Valencia, plans into planned As a close plant Mexico for Therefore,
you our operational on achieve our plans to path financial predictability apprised keep progress, we'll ongoing performance to and commitment value. our As of
and momentum I'm the in pleased to sunsetting fewer we've military in improve QX first improvements in our of of an the in allow our three Triumph program years. positive Financial both and taken with businesses including have and businesses, backlog us In actions and maintains The summary, we programs, our improvements Triumph today the add non-core our increase for where backlog. and and build-to-print divestitures actions your-over-year. of continues operational positive time to quality basis value. transitioning free remain in achieve of operating These continued to speaks healthier to the predictability programs flow the the can on profitability. portfolio in annual performance most company future. This the the invest cash very the improved on-track
us Jim? take quarter. for now will more Jim that, through the financial results With detailed
