TriMas Corporation reports developments for a manufacturer and supplier serving consumer packaging, life sciences and industrial markets through TriMas Packaging and Specialty Products. Recurring updates cover operating results, earnings outlooks, quarterly dividends, share repurchases and portfolio actions, including the completed divestiture of TriMas Aerospace.
Company news also describes segment performance in closure and dispensing systems, specialty products such as cylinders, cost actions, restructuring benefits and conference-call communications tied to periodic earnings releases.
TriMas (NASDAQ: TRS) will host its first quarter 2022 earnings conference call on April 28, 2022, at 10 a.m. Eastern Time. The earnings results will be released earlier that day at 8 a.m. Participants can join by dialing (888) 254-3590 with confirmation code 2219626, or via webcast on the company’s site. A replay will be available from 3 p.m. April 28 through 3 p.m. May 5. TriMas specializes in manufacturing products for the consumer, aerospace, and industrial sectors with a strong global presence.
TriMas reported strong financial results for 2021, achieving a sales increase of 11.3% to $857.1 million, driven by organic growth and acquisitions. Operating profit soared to $95.1 million from a loss in 2020, with adjusted diluted EPS rising 16.7% to $2.24. The company ended the year with a net leverage ratio of 1.6x, despite significant acquisitions. Cash flow from operating activities was $134.2 million. For 2022, TriMas expects sales to grow by 8% to 11% and adjusted EPS between $2.25 and $2.35.
TriMas (NASDAQ: TRS) has acquired Intertech Plastics, enhancing its Packaging Group with medical end market applications. Intertech specializes in precision injection molding components and will operate under TriMas Packaging. With two facilities in Denver, Colorado, Intertech had $32 million in revenue in 2021 and holds ISO 13485 certification. This acquisition marks TriMas’ sixth packaging acquisition since 2019, aiming to integrate advanced manufacturing capabilities and expand into the Life Sciences market, addressing the growing demand for medical applications.
TriMas (NASDAQ: TRS) has declared a quarterly cash dividend of $0.04 per share, payable on March 11, 2022, to shareholders on record as of March 4, 2022. This dividend initiation is part of the company's capital allocation strategy started in October 2021. TriMas manufactures products across consumer, aerospace, and industrial markets employing approximately 3,500 people globally.
TriMas will host its fourth quarter and full year 2021 earnings conference call on March 1, 2022, at 10 a.m. Eastern Time, following the release of earnings results at 8 a.m.. Participation can be via dial-in at (888) 204-4368 (Code 9503603) or by accessing a live webcast on the TriMas website. A replay will be available from 3 p.m. EST on March 1 to 3 p.m. EST on March 8. TriMas operates in the packaging, aerospace, and specialty products markets, employing approximately 3,500 people across 12 countries.
Summary not available.
TriMas has successfully acquired Omega Plastics, enhancing its Packaging group by integrating Omega's custom components for medical and industrial applications. Omega's advanced injection molding and ISO Class 8 cleanroom capabilities will expedite product development and production. TriMas anticipates Omega to generate approximately $18 million in revenue in fiscal 2021, contributing to the Packaging group's total sales of around $534 million. This acquisition aims to bolster TriMas' offerings in medical device contract development manufacturing, propelling future growth opportunities.
TriMas (NASDAQ: TRS) announced its agreements to acquire Omega Plastics and TFI Aerospace, expanding its TriMas Packaging and TriMas Aerospace platforms. Omega, based in Clinton Township, Michigan, specializes in drug delivery and medical components, expected to generate $18 million in revenue for 2021. TFI, located near Toronto, Canada, produces specialty fasteners and anticipates $6 million in revenue. These acquisitions enhance TriMas's product offerings and innovation capabilities, while maintaining a net leverage ratio below 2.0x for further growth opportunities.
Summary not available.
Summary not available.