Shares of Triumph Group Inc. TGI rose 10.3% to reach $18.84 on Aug 9, reflecting investors’ optimism following its encouraging fiscal first-quarter results. The company’s adjusted earnings in first-quarter fiscal 2022 (ended Jun 30, 2021) were 9 cents per share, which surpassed the Zacks Consensus Estimate of 4 cents by a solid 125%. The bottom line also marked an improvement from the year-ago loss of 19 cents per share. Including one-time adjustments, the company incurred GAAP loss of 47 cents per share in the fiscal first quarter compared with loss of $5.32 incurred a year ago.Triumph Group, Inc. Price, Consensus and EPS Surprise Triumph Group, Inc. price-consensus-eps-surprise-chart | Triumph Group, Inc. QuoteTotal SalesNet sales in the quarter under review came in at $396.6 million, surpassing the Zacks Consensus Estimate of $366 million by 8.5%. However, the top line declined 20% on a year-over-year basis due to planned reductions on sunsetting and divested programs.After taking into account the impact of the divestitures and sunsetting programs, organic sales in the quarter went up 11% year over year driven by increased maintenance, repair and overhaul work.Operational HighlightsIn first-quarter fiscal 2022, the company generated adjusted operating income of $31.3 million, which improved a massive 102.8% from the year-ago quarter’s figure. Adjusted operating margin of 7.9% expanded 480 basis points from 3.1% in the first quarter of fiscal 2021.Interest expenses and other amounted to $38.6 million, up 10.3% from the prior-year quarter.Backlog came in at $1.90 billion, down on a sequential basis due to sunsetting programs and recent production rate reductions.Segmental PerformanceAerospace Structures: Segment sales totaled $138.3 million, down 46.4% from $257.9 million in the year-ago quarter. The segment reported operating income of $11.2 million during first-quarter fiscal 2022.Systems & Support: Segment sales improved 7.7% year over year to $258.4 million. Operating income was $35.5 million in first-quarter fiscal 2022.Financial Position As of Jun 30, 2021, Triumph Group’s cash and cash equivalents totaled $237.5 million, compared with $589.9 million as of Mar 31, 2021.Its long-term debt (excluding current portion) amounted to $1.61 billion as of Jun 30, 2021, compared with $1.95 billion as on Mar 31, 2021.Net cash used in operating activities in the first quarter of fiscal 2022 was $149.5 million compared to net cash outflow worth $197.5 million as of Mar 31, 2021.The company’s capital expenditures were $2.1 million in the first quarter of fiscal 2022 compared with $7.7 million in the prior-year quarter.GuidanceTriumph Group provided its financial guidance for fiscal 2022. The company expects to generate adjusted earnings per share in the range of 41-61 cents per share. The Zacks Consensus Estimate for earnings, pegged at 62 cents, lies above the guidance range.The company expects to record net sales of $1.5-$1.6 billion in fiscal 2022. The Zacks Consensus Estimate for revenues of $1.57 billion lies above the mid-point of the guidance range.Zacks RankTriumph Group currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Other Defense ReleasesCurtiss-Wright CW reported second-quarter 2021 adjusted earnings of $1.56 per share, which surpassed the Zacks Consensus Estimate of $1.53 by 2%.Raytheon Technologies’ RTX second-quarter 2021 adjusted earnings per share of $1.23 outpaced the Zacks Consensus Estimate of 92 cents by 33.7%.Hexcel Corporation HXL reported second-quarter 2021 adjusted earnings of 8 cents per share, which surpassed the Zacks Consensus Estimate of a penny. Zacks' Top Picks to Cash in on Artificial Intelligence In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Triumph Group, Inc. (TGI): Free Stock Analysis Report Hexcel Corporation (HXL): Free Stock Analysis Report CurtissWright Corporation (CW): Free Stock Analysis Report Raytheon Technologies Corporation (RTX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research