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TriMas Corporation (NASDAQ: TRS) is a diversified designer, manufacturer, and distributor of engineered and applied products that cater to a variety of industrial, commercial, and consumer end markets worldwide. With over 50 facilities in 16 countries, TriMas provides its customers with highly-engineered solutions and is committed to market leadership, innovation, and operational excellence.
TriMas operates through three primary segments:
- Packaging: Manufactures and distributes closure and dispensing systems for a wide range of consumer products.
- Aerospace: Supplies blind bolts, fasteners, rivets, and other products tailored for the aerospace industry.
- Specialty Products: Produces and distributes steel cylinders, wellhead engines, compression systems, industrial sealing, and various fasteners.
The company emphasizes sustainable sales and earnings growth through strategic investments and capital allocation. This includes organic growth strategies such as product innovation, market penetration, and geographic expansion, as well as bolt-on acquisitions to enhance their portfolio and market reach.
TriMas’s commitment to innovation and operational excellence is reflected in its latest achievements and ongoing projects. The company continues to explore new markets and expand its product offerings, ensuring it meets the evolving needs of its global customer base. Financially, TriMas maintains a solid foundation, aiming for consistent performance and shareholder value.
For the latest updates and news about TriMas Corporation, stay informed through our regularly updated news section.
TriMas Packaging, the largest division of TriMas (NASDAQ: TRS), will exhibit at LUXE PACK Monaco 2024 from September 30th to October 2nd. The company will showcase its latest innovations in packaging design and sustainable product solutions for the luxury beauty, cosmetic, and personal care markets.
TriMas Packaging's market-leading brands, including Rieke®, Aarts Packaging, Affaba & Ferrari™, Taplast™, and Rapak®, will present their offerings at Booth #RD10 in the Ravel Hall. The company will feature high-end fragrance pumps, all-plastic foamers, dispensers, airless systems, color cosmetic packaging, closures, and jars. Additionally, TriMas Packaging will highlight its environmentally-conscious Singolo™ line of fully recyclable, single-polymer dispensing pumps.
With approximately 2,200 employees and 26 locations worldwide, TriMas Packaging continues to invest in advanced processes, cutting-edge technology, and sustainable innovation to meet evolving customer needs in the beauty, cosmetic, and personal care markets.
TriMas (NASDAQ: TRS) reported Q2 2024 results with net sales up 3.1% to $240.5 million, driven by strong growth in Packaging (13.0%) and Aerospace (27.6%) segments. However, operating profit decreased 11.0% to $17.9 million. Adjusted EPS was $0.43, down from $0.56 in Q2 2023. The company maintained a strong balance sheet with $35 million cash on hand and $232.5 million available under its credit facility. TriMas revised its 2024 outlook, now expecting 4-6% sales growth and adjusted EPS of $1.70-$1.90, primarily due to lower-than-expected performance in the Specialty Products segment.
Barington Capital Group, owning 1.5% of TriMas (TRS), has called for the company to consider strategic alternatives to address long-term share price underperformance. Since Barington's previous letter in December 2023, TriMas has underperformed its peers and the Russell 2000 index. Barington argues that TriMas' multi-segment structure has not benefited stockholders and suggests two alternatives: selling the Aerospace segment or the entire company.
TriMas currently trades at 8.6x NTM consensus EBITDA, which Barington believes undervalues its Packaging and Aerospace segments. The aerospace sector is consolidating due to strong travel and defense demand, and some of TriMas' multi-segment industrial peers have been acquired at substantial premiums. Barington urges the TriMas Board to promptly seek value-creating alternatives to improve shareholder value.
TriMas (NASDAQ: TRS) has announced a quarterly cash dividend of $0.04 per share. The dividend will be payable on August 13, 2024, to shareholders of record as of the close of business on August 6, 2024. TriMas is a diversified manufacturer serving the consumer products, aerospace, and industrial markets through its TriMas Packaging, TriMas Aerospace, and Specialty Products groups. The company employs approximately 3,500 people across 13 countries and operates under the TriMas Business Model, focusing on innovation and quality. TriMas is publicly traded on NASDAQ under the ticker symbol 'TRS' and is headquartered in Bloomfield Hills, Michigan.
TriMas (NASDAQ: TRS) has announced it will hold its second quarter 2024 earnings conference call on July 30, 2024, at 10 a.m. Eastern Time. The earnings results for Q2 2024 will be released at 8 a.m. the same day. Investors can join the call by dialing specified numbers for U.S. or international access or via a webcast on the TriMas website. A replay of the call will be available from July 30 at 3 p.m. until August 13 at 3 p.m. Eastern Time. TriMas is a manufacturer with a diversified product portfolio targeting consumer products, aerospace, and industrial markets, employing about 3,400 people in 13 countries.
TriMas (NASDAQ: TRS) reported a 5.4% increase in net sales to $227.1 million for the first quarter of 2024. The company saw growth in its Packaging and Aerospace segments, with diluted EPS in line with the prior year and adjusted diluted EPS up 5.7% to $0.37. Despite challenges in Specialty Products, TriMas remains optimistic about its performance for 2024. The company repurchased shares and paid dividends, maintaining a strong financial position.
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