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Why Triumph Group Inc.'s Shares Plunged 19% Today

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Why Triumph Group Inc.'s Shares Plunged 19% TodayPhoto, wide shot, wide-angle lens, Metal fabrication, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Hiroshi Sugimoto: https://img.midjourneyapi.xyz/temp/568784d0-c41a-4663-ab01-91f29a370903.png

Why Triumph Group Inc.'s Shares Plunged 19% Today

Shares of Triumph Group Inc. (NYSE: TGI) fell as much as 18.9% in trading Wednesday after the aviation and industrial company reported fiscal first-quarter earnings. At 12:05 p.m. EDT, the stock was still down 17.7% on the day.

Revenue fell 12.5% to $781.7 million and the company swung from a net income of $19.7 million a year ago to a loss of $1.9 million, or $0.04 per share. On an adjusted basis, which pulls out one-time costs like restructuring, earnings were $0.24 per share.

Image source: Getty Images.

Source: Fool.com