earnings
confidence high
sentiment negative
materiality 0.80
TriMas Q3 revenue down 1.7%, EPS $0.32; cuts FY22 adjusted EPS guidance to $2.10-$2.18
TRIMAS CORP
2022-Q3 EPS reported
$1.11
revenue$680,520,000
- Net sales $218.5M (-1.7% YoY); operating profit $21.0M vs $30.8M; reported EPS $0.32 vs $0.45; adjusted EPS $0.40 vs $0.57.
- Packaging segment sales down 6%, Aerospace down 2.3%; Specialty Products up 14.5% driven by steel cylinders and power gen.
- Revised FY2022 adjusted EPS guidance to $2.10-$2.18, sales growth 3%-5% YoY, FCF >80% of net income.
- Repurchased 1.0M shares for $30M in first 9 months; net debt $314.2M, leverage 2.0x, cash $80.3M.
- Recorded $4.8M pre-tax gain from property divestiture; $26M cash proceeds from cross-currency swaps settlement.