TriMas Q2 net sales $240.5M (+3.1%), adjusted EPS $0.43 vs $0.56; FY outlook cut to $1.70-$1.90

TRIMAS CORP

2024-Q2 EPS reported $0.39 revenue$467,600,000

Net sales $240.5M (+3.1% YoY); net income $10.9M ($0.27 diluted EPS).
Adjusted diluted EPS $0.43, down from $0.56 prior year; adjusted operating profit $20.8M vs $27.3M.
Packaging sales +12.5% (organic +13.0%); Aerospace sales +30.0% (organic +27.6%); margin +730 bps.
Specialty Products sales -45.0% due to Norris Cylinder; initiates sale process for Arrow Engine.
FY 2024 outlook reduced: adjusted EPS $1.70-$1.90 (down from prior); sales growth 4%-6%.

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