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TriMas (NASDAQ: TRS) lifts 2026 EPS view and builds $1.24B cash pile

Filing Impact
(Very High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

TriMas reported solid continuing-operations results for the quarter ended June 30, 2026. Net sales were $174.6 million, up 1.6% year-over-year. Operating profit rose to $10.9 million from $7.4 million, while adjusted operating profit increased 29.1% to $14.9 million. Adjusted income from continuing operations reached $19.0 million versus $8.1 million, and adjusted diluted EPS from continuing operations was $0.52, up 160.0% from $0.20, driven by cost reductions, improved operations, interest income on cash, and a lower share count.

TriMas completed the cash sale of TriMas Aerospace on March 16, 2026, for $1.5 billion, generating approximately $1.2 billion in net after-tax proceeds. As of June 30, 2026, cash and cash equivalents were $1,242.5 million, Net Debt was $(845.6) million, and the net leverage ratio was 1.8x. Year to date, the company repurchased 1,996,321 shares for $73.5 million, contributing to a 4.7% net reduction in outstanding shares to about 35.9 million, with $76.5 million remaining under its repurchase authorization. Second-quarter Free Cash Flow was a use of $12.9 million versus Free Cash Flow of $7.7 million a year earlier, mainly due to sales and collection timing.

TriMas raised its full‑year 2026 adjusted diluted EPS outlook to a range of $1.60 to $1.70, from the prior $1.50 to $1.70. The company continues to expect 3% to 6% sales growth and more than 300 basis points of adjusted operating margin improvement, supported by cost-out and realignment initiatives that are targeted to deliver approximately $10.5 million of savings in 2026 and $16.0 million on an annualized basis. Packaging sales were essentially flat but achieved better adjusted margins, while Specialty Products delivered 10.2% sales growth with margin pressure from higher raw material costs and temporary manufacturing inefficiencies.

Positive

  • Raised 2026 EPS outlook: Adjusted diluted EPS guidance increased to $1.60 to $1.70, from $1.50 to $1.70, signaling higher expected profitability.
  • Strong EPS growth: Q2 2026 adjusted diluted EPS from continuing operations rose 160.0% to $0.52, compared with $0.20 in Q2 2025.
  • Balance sheet transformed: Cash and cash equivalents reached $1,242.5 million with Net Debt of $(845.6) million and a net leverage ratio of 1.8x.
  • Major portfolio action: Completed sale of TriMas Aerospace for $1.5 billion in cash, generating about $1.2 billion in net after-tax proceeds for redeployment.

Negative

  • Free Cash Flow turned negative: Q2 2026 Free Cash Flow was a use of $12.9 million, versus positive Free Cash Flow of $7.7 million in Q2 2025, largely due to working capital timing.
  • Lower GAAP net income: Q2 2026 net income was $13.4 million, below $16.7 million a year earlier, reflecting a $53.9 million loss from discontinued operations.

Insights

Analyzing...

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Q2 2026 Net Sales $174.6 million Second quarter 2026 net sales compared to $171.8 million in Q2 2025
Q2 2026 Adjusted Operating Profit $14.9 million Adjusted operating profit, a 29.1% increase versus $11.5 million in Q2 2025
Q2 2026 Adjusted Diluted EPS $0.52 Adjusted diluted EPS from continuing operations versus $0.20 in Q2 2025
Cash and Cash Equivalents $1,242.5 million Cash on hand as of June 30, 2026
Net Debt $(845.6) million Net Debt as of June 30, 2026 after the Aerospace divestiture
TriMas Aerospace Sale Proceeds $1.5 billion Cash proceeds from March 16, 2026 divestiture; about $1.2 billion net after tax
Shares Repurchased YTD 2026 1,996,321 shares Common shares repurchased through June 30, 2026 for $73.5 million
2026 Adjusted EPS Outlook $1.60 to $1.70 Raised full-year 2026 adjusted diluted EPS guidance from $1.50 to $1.70
Free Cash Flow financial
"The Company reported a Free Cash Flow(3) use of $12.9 million for second quarter 2026"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
Net Debt financial
"Net Debt(4) of $(845.6) million, reflecting cash on hand that significantly exceeded"
Net debt is the total amount a company owes after subtracting the cash and assets it has that can be used to pay off that debt. It shows how much debt is truly a burden, helping investors understand if a company is financially healthy or heavily borrowed. Think of it like calculating how much money you owe after using your savings to pay part of it.
discontinued operations financial
"The results of TriMas Aerospace, along with transaction-related costs, have been classified as discontinued operations"
Discontinued operations are parts of a company that it has decided to sell or shut down, and no longer plans to run in the future. This matters to investors because it helps them understand which parts of the business are ongoing and which are being phased out, providing a clearer picture of the company’s current performance and future prospects. Think of it like a store closing a department—it no longer contributes to sales or profits.
adjusted diluted earnings per share financial
"second quarter 2026 adjusted diluted earnings per share(2) from continuing operations was $0.52"
Adjusted diluted earnings per share is the company’s net profit per share after accounting for potential extra shares (from options or convertible securities) and removing one‑time or unusual items so the number reflects ongoing business results. Think of it like timing a runner’s steady pace after excluding a few unexpected stops; it gives investors a clearer view of sustainable profit available to each share. Investors use it to compare companies and judge underlying profitability and valuation without short‑term distortions.
Special Items financial
"Adjusting for Special Items(1), second quarter 2026 adjusted operating profit was $14.9 million"
Special items are unusual or infrequent gains or losses that a company reports separately from its regular operating profit, such as restructuring costs, asset write-downs, legal settlements, or one-time gains from selling a business. Investors pay attention because these items can make reported profits look better or worse than the company’s ongoing performance—like a homeowner’s one-off roof repair affecting a single month’s budget but not the household’s regular income and expenses.
Net Sales $174.6 million up 1.6% from $171.8 million in Q2 2025
Adjusted Operating Profit $14.9 million up 29.1% from $11.5 million in Q2 2025
Adjusted Diluted EPS (continuing operations) $0.52 up 160.0% from $0.20 in Q2 2025
Adjusted Income from Continuing Operations $19.0 million more than double $8.1 million in Q2 2025
Guidance

TriMas raised full-year 2026 adjusted diluted EPS guidance to $1.60 to $1.70 from $1.50 to $1.70, and continues to expect 3% to 6% sales growth and more than 300 basis points of adjusted operating margin improvement.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

How did TriMas (TRS) perform financially in the second quarter of 2026?
TriMas reported Q2 2026 net sales of $174.6 million, up 1.6% year-over-year. Adjusted operating profit rose 29.1% to $14.9 million, and adjusted income from continuing operations reached $19.0 million with adjusted diluted EPS of $0.52.

What impact did the TriMas Aerospace divestiture have on TRS in 2026?
TriMas completed the sale of TriMas Aerospace for $1.5 billion in cash, generating about $1.2 billion in net after-tax proceeds. The deal helped lift cash to $1,242.5 million, produce Net Debt of $(845.6) million, and significantly reshape the balance sheet.

What is TriMas (TRS) 2026 adjusted EPS outlook after Q2 results?
TriMas now expects full-year 2026 adjusted diluted EPS of $1.60 to $1.70, raising the low end and midpoint from the prior $1.50 to $1.70 range. The guidance assumes $9–$10 million of quarterly interest income and continued cost savings.

How strong is TriMas’ (TRS) balance sheet as of June 30, 2026?
As of June 30, 2026, TriMas held $1,242.5 million of cash and cash equivalents, total debt of $396.9 million, and Net Debt of $(845.6) million. Available cash and revolver capacity totaled $1,446.1 million, and the net leverage ratio was 1.8x.

What capital return actions did TriMas (TRS) take in 2026 so far?
Year to date through June 30, 2026, TriMas repurchased 1,996,321 shares for $73.5 million, contributing to a 4.7% net reduction in outstanding shares. The company also paid a quarterly dividend of $0.04 per share and has $76.5 million remaining under its repurchase authorization.

How did TriMas’ (TRS) business segments perform in Q2 2026?
Packaging posted Q2 2026 net sales of $142.9 million, essentially flat year-over-year, with improved adjusted margins. Specialty Products delivered net sales of $31.7 million, up 10.2%, but saw lower operating margin due to slower recovery of higher raw material costs and temporary manufacturing inefficiencies.
false000084263300008426332026-07-302026-07-30

 UNITED STATES 
 SECURITIES AND EXCHANGE COMMISSION 
 Washington, D.C. 20549 
 
FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported) July 30, 2026
 
TRIMAS CORPORATION
(Exact name of registrant as specified in its charter)
 
Delaware 001-10716 38-2687639
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
 
38505 Woodward Avenue, Suite 200,Bloomfield Hills, 48304
Michigan
(Address of principal executive offices) (Zip Code)
 
Registrant’s telephone number, including area code (248) 631-5450
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading symbol(s)Name of exchange on which registered
Common stock, $0.01 par valueTRSThe NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 2.02 Results of Operations and Financial Condition.

TriMas Corporation (the “Company”) issued a press release on July 30, 2026, reporting its financial results for the second quarter ending June 30, 2026. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The press release is also available on the Corporation's website at www.trimas.com.
The information presented in Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933 (the "Securities Act") or the Exchange Act.

Item 9.01 Financial Statements and Exhibits.


(d)    Exhibits. The following exhibits are furnished herewith:
Exhibit No.Description
99.1
Press Release, dated July 30, 2026, reporting financial results for the quarter ended June 30, 2026.
104Cover Page Interactive File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
TRIMAS CORPORATION
Date:July 30, 2026By:/s/ Paul A. Swart
Name:Paul A. Swart
Title:Chief Financial Officer





trimas_logoxpantone-workivaa.jpg    

TRIMAS REPORTS SECOND QUARTER 2026 RESULTS
Raises Low End and Midpoint of Full Year 2026 EPS Outlook
•Second quarter operating profit increased to $10.9 million, while adjusted operating profit increased 29.1% to $14.9 million
•Second quarter diluted EPS increased to $1.86, with adjusted diluted EPS of $0.52
•Repurchased more than 5 million shares of common stock since November 2025
•Ended the quarter with $1.24 billion of cash and cash equivalents
BLOOMFIELD HILLS, Michigan, July 30, 2026 - TriMas (NASDAQ: TRS) today announced financial results for the second quarter ended June 30, 2026.
TriMas reported second quarter 2026 net sales of $174.6 million, a 1.6% increase compared to $171.8 million in second quarter 2025, driven by organic growth within Specialty Products and the benefit of favorable foreign currency exchange. Operating profit increased to $10.9 million in second quarter 2026, compared to $7.4 million in second quarter 2025. Adjusting for Special Items(1), second quarter 2026 adjusted operating profit was $14.9 million, a 29.1% increase compared to $11.5 million in the prior year period, reflecting the successful execution of cost-reduction and streamlining initiatives.
The Company reported second quarter 2026 income from continuing operations of $67.3 million, or $1.86 per diluted share, compared with $2.4 million, or $0.06 per diluted share, in second quarter 2025. Adjusting for Special Items(1), second quarter 2026 adjusted income(2) from continuing operations was $19.0 million, more than double the prior year period of $8.1 million. Second quarter 2026 adjusted diluted earnings per share(2) from continuing operations was $0.52, an increase of 160.0% compared to $0.20 in second quarter 2025, primarily reflecting interest income earned on the Company’s cash and cash equivalents, cost reductions, improved operating performance and the benefit of a lower share count resulting from the Company's share repurchase activity.
“Our second quarter results reflect continued progress against the priorities we established at the beginning of 2026,” said Thomas Snyder, TriMas President and Chief Executive Officer. “We delivered improved profitability and operating margin despite a dynamic market environment, driven by the successful execution of our cost-reduction actions and certain operational improvement initiatives. During the quarter, we also strengthened our leadership team, and enhanced organizational alignment and accountability through our strategic planning process, while advancing customer engagement and operational excellence initiatives."
"As we move through the second half of the year, we expect the run-rate benefits of our cost reduction and operational excellence initiatives to continue building, supporting further performance improvement. At the same time, we remain focused on disciplined capital deployment, having repurchased more than five million shares since announcing the Aerospace divestiture, while preserving the flexibility to invest in organic growth initiatives and strategically aligned, high-quality acquisition opportunities that elevate our Packaging and Life Sciences platforms. We believe the actions we have taken to simplify and strengthen TriMas have positioned us well to continue delivering improved results and long-term shareholder value.”
Financial Position
During the second quarter of 2026, the Company returned capital to shareholders through the repurchase of 509,264 shares of its outstanding common stock for $18.9 million. Year to date through June 30, 2026, the Company repurchased 1,996,321 shares for $73.5 million, contributing to a 4.7% net reduction in outstanding shares compared to December 31, 2025. Since announcing the decision to divest TriMas Aerospace in November 2025, the Company has repurchased more than five million shares. As of June 30, 2026, approximately 35.9 million shares were outstanding and $76.5 million remained available under the Company's share repurchase authorization. TriMas also declared and paid a quarterly cash dividend of $0.04 per share.
The Company reported net cash used in operating activities of continuing operations of $38.5 million for second quarter 2026, compared to net cash provided by operating activities of $16.5 million in second quarter 2025. As a result, the Company reported a Free Cash Flow(3) use of $12.9 million for second quarter 2026, compared to Free Cash Flow(3) of $7.7 million in second quarter 2025, primarily due to the timing of sales and collections in the quarter. Please see Appendix I for further details.
1

TriMas ended second quarter 2026 with $1,242.5 million of cash on hand, $1,446.1 million of cash and available borrowing capacity under its revolving credit facility, and a net leverage ratio of 1.8x as defined in the Company's credit agreement. As of June 30, 2026, the Company reported total debt of $396.9 million and Net Debt(4) of $(845.6) million, reflecting cash on hand that significantly exceeded the Company's debt position following the divestiture of TriMas Aerospace, which generated approximately $1.2 billion in net after‑tax proceeds. The remaining proceeds are currently invested in interest‑bearing investments pending further redeployment.
Second Quarter Segment Results
The TriMas Packaging group reported second quarter net sales of $142.9 million, essentially flat compared to the second quarter of 2025. Sales growth in the industrial and life sciences end markets, along with the benefit of favorable foreign currency translation, was largely offset by lower sales in beauty and personal care applications, and food and beverage products. While second quarter operating profit declined, adjusted operating profit and margin both improved year-over-year and sequentially from the first quarter of 2026, reflecting the benefits of cost‑reduction actions, operational improvement initiatives and a more favorable product sales mix.
TriMas' Specialty Products group reported second quarter net sales of $31.7 million, an increase of 10.2% compared to second quarter 2025. Second quarter operating profit and margin declined year-over-year, as the benefits of higher sales volumes were more than offset by a lag in recovering increased raw material costs and temporary manufacturing inefficiencies related to machine downtime and labor ramp-up.
Discontinued Operations
The divestiture of TriMas Aerospace was completed on March 16, 2026, for approximately $1.5 billion in cash, generating net after-tax proceeds of approximately $1.2 billion. To date, proceeds have been used to repay borrowings under the Company's revolving credit facility, fund additional share repurchases and satisfy a portion of transaction-related tax obligations, while the remaining balance has been invested in liquid, interest-bearing accounts. The Company intends to deploy the remaining proceeds in support of capital allocation priorities, which may include organic growth investments, strategic acquisitions and additional share repurchases.
The results of TriMas Aerospace, along with transaction-related costs, have been classified as discontinued operations for all periods presented.
Realignment and Cost-Out Initiatives
TriMas has completed the closure and consolidation of its Atkins, Arkansas, packaging facility. The Company remains on track to deliver approximately $10.5 million of savings in 2026 and $16.0 million of annualized savings related to the previously communicated cost-out actions.
2026 Outlook
The Company has raised the low end and midpoint of its previously issued full-year 2026 adjusted diluted earnings per share(2) (EPS) outlook and now expects adjusted diluted EPS in the range of $1.60 to $1.70, compared to the prior outlook of $1.50 to $1.70, provided on February 26, 2026. This outlook assumes between $9 million and $10 million of interest income per each remaining quarter of 2026, and assumes no significant change in interest rates or the redeployment of the cash proceeds for the remainder of the year. The Company continues to expect sales growth of 3% to 6% year-over-year across its combined Packaging and Specialty Products businesses, along with more than 300 basis points of adjusted operating profit margin improvement, driven by cost reductions and organizational realignment initiatives.
The above outlook includes the impact of all announced acquisitions and divestitures as of July 30, 2026. The outlook provided assumes no significant impact related to input costs or end market demand associated with global conflicts or geopolitical actions. All of the above amounts considered as 2026 guidance are after adjusting for any current or future amounts that may be considered Special Items. The inability to predict the amount and timing of the impacts of these Special Items makes a detailed reconciliation of these forward-looking non-GAAP financial measures impracticable.(1)
2

Conference Call Information
TriMas will host its second quarter 2026 earnings conference call today, Thursday, July 30, 2026, at 10 a.m. ET. To participate via phone, please dial (877) 407-0890 (U.S. and Canada) or +1 (201) 389-0918 (outside the U.S. and Canada), and ask to be connected to the TriMas second quarter 2026 earnings conference call. The conference call will also be simultaneously webcast via the TriMas website at www.trimas.com, under the "Investors" section, with an accompanying slide presentation. A replay of the conference call will be available on the TriMas website or by dialing (877) 660-6853 (U.S. and Canada) or +1 (201) 612-7415 (outside the U.S. and Canada) with a meeting ID of 13761489, beginning July 30, 2026, at 3:00 p.m. ET through August 13, 2026, at 3:00 p.m. ET.
Notice Regarding Forward-Looking Statements
Any "forward-looking" statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, contained herein, including those relating to TriMas’ business, financial condition or future results, involve risks and uncertainties with respect to, including, but not limited to: general economic and currency conditions; competitive factors; market demand; our ability to realize our business strategies; government and regulatory actions, including, without limitation, the impact of current and future tariffs and reciprocal tariffs, quotas and surcharges, as well as climate change legislation and other environmental regulations; our ability to identify attractive acquisition candidates, successfully integrate acquired operations or realize the intended benefits of such acquisitions; our ability to recognize the benefits of and effectively deploy the net proceeds from the sale of TriMas Aerospace; pressures on our supply chain, including availability of raw materials and inflationary pressures on raw material and energy costs, and customers; the performance of our subcontractors and suppliers; risks and uncertainties associated with intangible assets, including goodwill or other intangible asset impairment charges; risks associated with a concentrated customer base; information technology and other cyber-related risks; risks related to our international operations; changes to fiscal and tax policies; intellectual property factors; uncertainties associated with our ability to meet customers’ and suppliers’ sustainability and environmental, social and governance ("ESG") goals and achieve our sustainability and ESG goals in alignment with our own announced targets; litigation; contingent liabilities relating to acquisition and disposition activities; interest rate volatility; our leverage; liabilities imposed by our debt instruments; labor disputes and shortages; the disruption of operations from catastrophic or extraordinary events, including, but not limited to, natural disasters, geopolitical conflicts and public health crises; the amount and timing of future dividends and/or share repurchases, which remain subject to Board approval and depend on market and other conditions; our future prospects; and other risks that are detailed in the Annual Report on Form 10-K for the year ended December 31, 2025. The risks described are not the only risks facing our Company. Additional risks and uncertainties not currently known to us or that we currently deemed to be immaterial also may materially adversely affect our business, financial position and results of operations or cash flows. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements, except as required by law.
Non-GAAP Financial Measures
In this release, certain non-GAAP financial measures are used. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measure may be found in Appendix I at the end of this release. Management believes that presenting these non-GAAP financial measures provides useful information to investors by helping them identify underlying trends in the Company’s businesses and facilitating comparisons of performance with prior and future periods and to the Company’s peers. These non-GAAP financial measures should be considered in addition to, and not as a replacement for or superior to, the comparable GAAP measure, and may not be comparable to similarly titled measures reported by other companies.
Reconciliations of forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures are provided only for the expected impact of amortization of acquisition-related intangible assets for completed acquisitions, as the Company is unable to provide estimates of future Special Items(1) or amortization from future acquisitions without unreasonable effort, due to the uncertainty and inherent difficulty of predicting the occurrence and the financial impact of such items impacting comparability and the periods in which such items may be recognized. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to future results.
Additional information is available at www.trimas.com under the “Investors” section.
3

(1) Appendix I details certain costs, expenses and other amounts or charges, collectively described as "Special Items," that are included in the determination of net income, earnings per share and/or cash flows from operating activities under GAAP, but that management believes should be separately considered when evaluating the quality of the Company’s core operating results, given they may not reflect the ongoing activities of the business.
(2) The Company defines adjusted net income (and on a per diluted share basis, adjusted diluted earnings per share) as net income (per GAAP), plus or minus the after-tax impact of Special Items(1), plus the after-tax impacts of non-cash acquisition-related intangible asset amortization and non-cash compensation expense. While the acquisition-related intangible assets aid in the Company’s revenue generation, the Company adjusts for the non-cash amortization expense and non-cash compensation expense because the Company believes it (i) enhances management’s and investors’ ability to analyze underlying business performance, (ii) facilitates comparisons of financial results over multiple periods, and (iii) provides more relevant comparisons of financial results with the results of other companies as the amortization expense associated with these assets may fluctuate significantly from period to period based on the timing, size, nature, and number of acquisitions.
(3)    The Company defines Free Cash Flow as Net Cash Provided by/Used for Operating Activities, excluding the cash impact of Special Items, less Capital Expenditures. Please see Appendix I for additional details.
(4) The Company defines Net Debt as Total Debt less Cash and Cash Equivalents. Please see Appendix I for additional details.
About TriMas
TriMas designs, manufactures and supplies a broad range of innovative and high‑quality products for the consumer packaging, life sciences and industrial markets through its TriMas Packaging and Specialty Products groups. With approximately 2,500 employees in 12 countries, TriMas is committed to empowering customer success through deep partnerships, strong technical expertise, focused innovation, and exceptional quality and service. Guided by a culture of continuous improvement and operational excellence, TriMas invests in its people and capabilities to deliver long‑term value for all stakeholders. Headquartered in Bloomfield Hills, Michigan, TriMas is publicly traded on NASDAQ under the ticker symbol “TRS.” For more information, please visit www.trimas.com.
Contact
Sherry Lauderback
VP, Investor Relations, Communications & Sustainability
(248) 631-5506
sherry.lauderback@trimas.com

4

TriMas Corporation
Condensed Consolidated Balance Sheet
(Dollars in thousands)

June 30,
2026		December 31,
2025
Assets(unaudited)
Current assets:
Cash and cash equivalents$1,242,480 $30,020 
Receivables, net153,640 111,270 
Inventories116,530 108,720 
Prepaid expenses and other current assets34,510 36,380 
Current assets, discontinued operations— 176,280 
Total current assets1,547,160 462,670 
Property and equipment, net240,790 247,510 
Operating lease right-of-use assets36,470 31,800 
Goodwill296,660 300,280 
Other intangibles, net72,970 76,550 
Deferred income taxes6,880 53,670 
Other assets44,720 45,430 
Non-current assets, discontinued operations— 267,170 
Total assets$2,245,650 $1,485,080 
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable$223,450 $72,280 
Accrued liabilities52,720 59,640 
Lease liabilities, current portion8,010 4,100 
Current liabilities, discontinued operations— 47,650 
Total current liabilities284,180 183,670 
Long-term debt, net396,890 469,170 
Lease liabilities32,870 31,810 
Deferred income taxes28,440 17,710 
Other long-term liabilities60,660 65,840 
Non-current liabilities, discontinued operations— 11,290 
Total liabilities803,040 779,490 
Total shareholders' equity1,442,610 705,590 
Total liabilities and shareholders' equity$2,245,650 $1,485,080 


5

TriMas Corporation
Consolidated Statement of Income
(Unaudited - dollars in thousands, except per share amounts)

Three months ended
June 30, 		Six months ended
June 30,
2026202520262025
Net sales$174,580 $171,750 $342,860 $324,210 
Cost of sales(139,240)(133,800)(270,650)(253,430)
Gross profit35,340 37,950 72,210 70,780 
Selling, general and administrative expenses(24,500)(30,540)(54,490)(61,510)
Net gain (loss) on dispositions of assets20 (20)30 5,270 
Operating profit10,860 7,390 17,750 14,540 
Other expense, net: 
Interest expense(4,120)(4,550)(9,360)(9,070)
Other income, net11,330 270 12,220 230 
Other income (expense), net7,210 (4,280)2,860 (8,840)
Income before income tax expense18,070 3,110 20,610 5,700 
Income tax (expense) benefit49,200 (700)(5,100)(1,350)
Income from continuing operations67,270 2,410 15,510 4,350 
Income (loss) from discontinued operations, net of tax(53,900)14,310 798,690 24,790 
Net income$13,370 $16,720 $814,200 $29,140 
Basic earnings (loss) per share: 
Continuing operations$1.87 $0.06 $0.42 $0.11 
Discontinued operations(1.50)0.35 21.79 0.61 
Net income per share$0.37 $0.41 $22.21 $0.72 
Weighted average common shares—basic35,877,517 40,647,361 36,651,820 40,626,325 
Diluted earnings (loss) per share: 
Continuing operations$1.86 $0.06 $0.42 $0.11 
Discontinued operations(1.49)0.35 21.54 0.60 
Net income per share$0.37 $0.41 $21.96 $0.71 
Weighted average common shares—diluted36,211,032 40,929,861 37,075,408 40,939,798 



6


TriMas Corporation
Consolidated Statement of Cash Flow
(Unaudited - dollars in thousands)
Six months ended
June 30,
20262025
Cash Flows from Operating Activities:
Income from continuing operations$15,510 $4,350 
Income from discontinued operations798,690 24,790 
Net income814,200 29,140 
Adjustments to reconcile net income to net cash provided by (used for) operating activities, net of acquisition impact:
Net gain on dispositions of assets(1,040,040)(5,270)
Depreciation19,160 19,650 
Amortization of intangible assets5,300 8,540 
Amortization of debt issue costs480 480 
Deferred income taxes2,770 3,250 
Non-cash compensation expense5,410 5,000 
Provision for losses on accounts receivable(50)(1,140)
Increase in receivables(48,740)(29,700)
(Increase) decrease in inventories(15,520)1,300 
(Increase) decrease in prepaid expenses and other assets7,430 (1,430)
Increase in accounts payable and accrued liabilities191,190 14,520 
Other operating activities510 (4,900)
Net cash provided by (used for) operating activities, net of acquisition impact(57,900)39,440 
Cash Flows from Investing Activities:
Capital expenditures(13,130)(29,980)
Acquisition of business, net of cash acquired— (37,160)
Net proceeds from disposition of business, property and equipment1,436,930 21,180 
Net cash provided by (used for) investing activities1,423,800 (45,960)
Cash Flows from Financing Activities:
Proceeds from borrowings on revolving credit facilities233,000 140,950 
Repayments of borrowings on revolving credit facilities(305,730)(118,780)
Debt financing fees— (1,260)
Payments to purchase common stock(73,460)(2,260)
Shares surrendered upon exercise and vesting of equity awards to cover taxes(4,430)(1,800)
Dividends paid(2,950)(3,280)
Other financing activities130 160 
Net cash provided by (used for) financing activities(153,440)13,730 
Cash and Cash Equivalents:
Increase for the period1,212,460 7,210 
At beginning of period30,020 23,070 
At end of period$1,242,480 $30,280 
Supplemental disclosure of cash flow information:
Cash paid for interest$9,960 $9,490 
Cash paid for taxes$33,940 $9,210 
Non-cash property additions$1,840 $— 
7

Appendix I

TriMas Corporation
Additional Information Regarding Special Items Impacting
Reported GAAP Financial Measures
Continuing Operations
(Unaudited - dollars in thousands)
Three months ended
June 30, 		Six months ended
June 30,
2026202520262025
Packaging
Net sales$142,920 $143,010 $282,090 $270,580 
Operating profit$18,720 $19,990 $33,270 $37,230 
Special Items to consider in evaluating operating profit:
Business restructuring and severance costs2,470 440 5,590 1,020 
Adjusted operating profit$21,190 $20,430 $38,860 $38,250 
Specialty Products
Net sales$31,660 $28,740 $60,770 $53,630 
Operating profit$690 $1,260 $3,550 $110 
Special Items to consider in evaluating operating profit:
Business restructuring and severance costs— — — 1,240 
Adjusted operating profit$690 $1,260 $3,550 $1,350 
Corporate Expenses
Operating loss$(8,550)$(13,860)$(19,070)$(22,800)
Special Items to consider in evaluating operating loss:
M&A diligence and transaction costs930 30 930 330 
System implementation costs660 1,440 1,880 2,360 
Business restructuring and severance costs(30)2,230 1,440 6,950 
Gain on sale of Arrow Engine— — — (5,300)
Adjusted operating loss$(6,990)$(10,160)$(14,820)$(18,460)
TriMas Continuing Operations
Net sales$174,580 $171,750 $342,860 $324,210 
Operating profit$10,860 $7,390 $17,750 $14,540 
Total Special Items to consider in evaluating operating profit4,030 4,140 9,840 6,600 
Adjusted operating profit$14,890 $11,530 $27,590 $21,140 



8

Appendix I

TriMas Corporation
Additional Information Regarding Special Items Impacting
Reported GAAP Financial Measures
Continuing Operations
(Unaudited - dollars in thousands, except per share amounts)

Three months ended
June 30, 		Six months ended
June 30,
2026202520262025
Income from continuing operations, as reported$67,270 $2,410 $15,510 $4,350 
Special Items to consider in evaluating quality of income from continuing operations:
Business restructuring and severance costs2,440 2,670 7,030 9,210 
M&A diligence and transaction costs930 30 930 330 
System implementation costs660 1,440 1,880 2,360 
Write-off of deferred financing fees— — — 100 
Non-cash deferred tax impact related to Aerospace divestiture(53,900)— — — 
Gain on sale of Arrow Engine— — — (5,300)
Amortization of acquisition-related intangible assets1,180 1,680 2,620 3,270 
Non-cash compensation expense2,390 1,610 5,020 2,660 
Income tax effect of net income adjustments(1)
(1,980)(1,790)(5,040)(2,990)
Adjusted income from continuing operations$18,990 $8,050 $27,950 $13,990 
Three months ended
June 30, 		Six months ended
June 30,
2026202520262025
Diluted earnings per share from continuing operations, as reported$1.86 $0.06 $0.42 $0.11 
Special Items to consider in evaluating quality of EPS from continuing operations:
Business restructuring and severance costs0.07 0.06 0.19 0.22 
M&A diligence and transaction costs0.02 — 0.02 0.01 
System implementation costs0.02 0.04 0.05 0.06 
Write-off of deferred financing fees— — — — 
Non-cash deferred tax impact related to Aerospace divestiture(1.49)— — — 
Gain on sale of Arrow Engine— — — (0.13)
Amortization of acquisition-related intangible assets0.03 0.04 0.07 0.08 
Non-cash compensation expense0.07 0.04 0.14 0.06 
Income tax effect of net income adjustments(1)
(0.06)(0.04)(0.14)(0.07)
Adjusted diluted EPS from continuing operations$0.52 $0.20 $0.75 $0.34 
Weighted-average shares outstanding36,211,032 40,929,861 37,075,408 40,939,798 
(1) Income tax effect of net income adjustments is calculated on an item-by-item basis, utilizing the statutory income tax rate in the jurisdiction where the adjustments occurred. For the three and six month periods ended June 30, 2026 and 2025, the income tax effect on the cumulative net income adjustments varied from the tax rate inherent in the Company's reported GAAP results, primarily as a result of certain discrete items that occurred during the period for GAAP reporting purposes.

9

Appendix I

TriMas Corporation
Additional Information Regarding Special Items Impacting
Reported GAAP Financial Measures
Continuing Operations
(Unaudited - dollars in thousands)


Three months ended June 30,
20262025
As reportedSpecial ItemsAs adjustedAs reportedSpecial ItemsAs adjusted
Net cash provided by (used for) operating activities$(38,520)$33,580 $(4,940)$16,450 $3,410 $19,860 
Less: Capital expenditures(7,910)— (7,910)(12,120)— (12,120)
Free Cash Flow$(46,430)$33,580 $(12,850)$4,330 $3,410 $7,740 
Six months ended June 30,
20262025
As reportedSpecial ItemsAs adjustedAs reportedSpecial ItemsAs adjusted
Net cash provided by (used for) operating activities$(57,570)$38,920 $(18,650)$23,440 $7,800 $31,240 
Less: Capital expenditures(10,310)— (10,310)(22,570)— (22,570)
Free Cash Flow$(67,880)$38,920 $(28,960)$870 $7,800 $8,670 

June 30,
2026		December 31, 2025June 30,
2025
Long-term debt, net$396,890 $469,170 $424,540 
Less: Cash and cash equivalents1,242,480 30,020 30,280 
Net Debt$(845,590)$439,150 $394,260 



YOY Sales Growth %
OrganicDivestituresForeign ExchangeTotal
Q2 2026 vs. Q2 2025
Consolidated TriMas Corporation— %— %1.6 %1.6 %
Packaging(2.1)%— %2.0 %(0.1)%
Specialty Products10.2 %— %— %10.2 %
YTD Q2 2026 vs. YTD Q2 2025
Consolidated TriMas Corporation3.4 %(0.4)%2.8 %5.8 %
Packaging1.0 %— %3.3 %4.3 %
Specialty Products16.0 %(2.7)%— %13.3 %

10


Appendix I

TriMas Corporation
Reconciliation of GAAP to Non-GAAP Financial Measures
Forecasted Diluted Earnings Per Share Guidance
Continuing Operations
(Unaudited - dollars per share)



Twelve months ended
December 31, 2026
LowHigh
Diluted earnings per share (GAAP)$1.08 $1.18 
Pre-tax amortization of acquisition-related intangible assets(1)
0.15 0.15 
Income tax benefit on amortization of acquisition-related intangible assets(0.04)(0.04)
Pre-tax non-cash compensation expense0.28 0.28 
Income tax benefit on non-cash compensation expense(0.07)(0.07)
Impact of Special Items(2)
0.20 0.20 
Adjusted diluted earnings per share$1.60 $1.70 
(1) These amounts relate to acquisitions completed as of July 30, 2026. The Company is unable to provide forward-looking estimates of future acquisitions, if any, that have not yet been consummated.
(2) The Company is unable to provide forward-looking estimates of Special Items without unreasonable effort, due to the uncertainty and inherent difficulty of predicting the occurrence and the financial impact of such items and the periods in which such items may be recognized. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to future results.
11

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