TriMas Q1 net sales $224.3M (+8.5% YoY), adj. EPS $0.50; reaffirms FY2022 outlook

TRIMAS CORP

2022-Q1 EPS reported $0.33 revenue$224,310,000

Diluted EPS $0.33, adjusted diluted EPS $0.50 (up 2.0% YoY); net income $14.2M.
Specialty Products segment sales +37.5% driven by steel cylinders; Packaging +4.8%, Aerospace -0.2%.
Reaffirms FY2022 adj. EPS guidance of $2.25-$2.35, sales growth 8%-11%.
Free cash flow use of $1.9M in Q1 vs $10.3M prior year due to inventory and capex.
Acquired Intertech (prototype molds for medical) in Packaging; leverage ratio 2.0x.

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