secwatch.observer — SEC 8-K summary
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Issuer:     TRIMAS CORP (TRS)
CIK:        0000842633
Form:       8-K
Filed at:   2022-10-27T23:59:59+00:00
Accession:  0000842633-22-000082
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TriMas Q3 revenue down 1.7%, EPS $0.32; cuts FY22 adjusted EPS guidance to $2.10-$2.18
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/842633/000084263322000082/0000842633-22-000082-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/842633/000084263322000082/trs-20221027.htm
  HTML page:      https://secwatch.observer/filing/0000842633-22-000082

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