Aerospace parts manufacturer Triumph Group (NYSE: TGI) posted better-than-expected results and provided an upbeat outlook for the future. Investors are hoping that the long-awaited turnaround at Triumph is finally taking hold, sending shares up as much as 16% on Wednesday morning.

Triumph, a maker of components for military and commercial aerospace platforms, has been a tough stock to love over the past decade. The shares have lost about 85% of their value since the mid-2010s, and the company has been slowly trying to rework its business, including by restructuring or selling unprofitable units. The challenge was complicated first by the pandemic and then by the supply chain disruptions that followed. 

At long last, investors are beginning to see the fruits of all that labor. Triumph earned $0.39 per share in its fiscal fourth quarter (ending March 31) on revenue of $393.29 million, beating analyst expectations for $0.26 per share in earnings on sales of $345 million.

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Source Fool.com