TriMas Q1 net sales $215.5M down 3.9%; adj EPS $0.30 vs $0.50 YoY

TRIMAS CORP

2023-Q1 EPS reported $0.12 revenue$215,460,000

Q1 net sales $215.5M (-3.9% YoY); GAAP diluted EPS $0.12; adjusted EPS $0.30 (vs $0.50).
Packaging net sales -16.1% due to customer inventory destocking; Aerospace +12.3%; Specialty Products +19.2%.
Closed acquisitions of Aarts Packaging (Q1) and Weldmac Manufacturing (April).
Reaffirms FY 2023 adjusted EPS guidance $2.00-$2.20 and 10-15% sales growth.
Repurchased 350,862 shares for $10.4M; ended Q1 with $51.9M cash, leverage ratio 2.4x.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TRIMAS CORP reported first quarter ended March 31, 2023 results: revenue $215.5 million, net income $4.9 million, or $0.12 per diluted share. Guidance reaffirmed.

Period: first quarter ended March 31, 2023
Revenue: $215.5 million
Net income: $4.9 million, or $0.12 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

than 350,000 shares of common stock, thereby reducing net outstanding shares by 0.5% during first quarter 2023 First Quarter 2023 TriMas reported first quarter 2023 net sales of $215.5 million, a decrease of 3.9% compared to $224.3 million in first quarter 2022, as organic growth in TriMas' Aerospace and Specialty Products groups, and acquisition-related sales, were

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Source: SEC EDGAR

accession 0000842633-23-000065

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