Welcome to our dedicated page for Trimas news (Ticker: TRS), a resource for investors and traders seeking the latest updates and insights on Trimas stock.
TriMas Corp (TRS) News Hub provides investors and industry professionals with comprehensive updates on this diversified manufacturer of engineered solutions. Track official announcements across packaging, aerospace, and specialty product segments, including earnings reports, strategic acquisitions, and operational developments.
This resource consolidates TriMas' latest financial disclosures, product innovations, and market expansion efforts. Users will find press releases detailing advancements in closure systems, aerospace fasteners, and industrial sealing technologies – all critical to understanding the company's multi-segment growth strategy.
Key updates include quarterly financial performance, leadership changes, sustainability initiatives, and patent filings. The curated news flow helps stakeholders monitor TriMas' execution of its capital allocation framework and responses to evolving industrial demands.
Bookmark this page for streamlined access to TRS corporate communications. Combine these updates with SEC filings and industry analysis for informed decision-making regarding this global engineered products provider.
TriMas (NASDAQ: TRS) has appointed Jodi Robin as General Counsel, effective May 6, 2021. Robin, a company veteran since 2010, previously served as Associate General Counsel and Deputy General Counsel. She will now oversee legal, compliance, governance, and M&A matters. Additionally, Dana Pierre-Louis has been appointed Associate General Counsel, focusing on securities regulations and corporate governance. Both appointments aim to bolster TriMas' legal framework and operational effectiveness, as highlighted by CEO Thomas Amato's positive remarks on their contributions.
TriMas reported a strong start to 2021, with Q1 net sales rising by 13.1% to $206.7 million. The growth was fueled by record sales in the Packaging segment, despite weaker demand in aerospace and industrial sectors due to the pandemic. The company achieved an operating profit of $21.1 million, up from $19.8 million last year. Additionally, it successfully refinanced its debt, securing a low rate. Looking ahead, TriMas anticipates Q2 sales between $205 million and $223 million and adjusted EPS of $0.50 to $0.57.
TriMas (NASDAQ: TRS) announced the retirement of CFO Bob Zalupski, effective September 30, 2021, after 19 years with the company. Scott Mell has been appointed as the new CFO, effective May 1, 2021. Zalupski has been pivotal in strategic and financial initiatives since becoming CFO in 2015. Mell brings over 25 years of experience, including leadership roles at Riveron and major consulting firms. Additionally, Jan van Dijk is promoted to Vice President & Treasurer, continuing his oversight of corporate tax and treasury functions.
TriMas (NASDAQ: TRS) will host its first quarter 2021 earnings conference call on April 29, 2021. The call starts at 10 a.m. Eastern Time and follows the earnings release at 8 a.m. This event will be accessible via phone at (866) 248-8441, with the confirmation code 7033534, or through a webcast on TriMas' website. A replay will be available from April 29 at 3 p.m. until May 6 at 3 p.m. TriMas, headquartered in Bloomfield Hills, Michigan, specializes in manufacturing for various markets, supported by a team of approximately 3,200 employees across 11 countries.
TriMas (NASDAQ: TRS) announced the closing of a $400 million senior unsecured notes offering on March 29, 2021. The fixed interest rate for the notes is 4.125%, with proceeds partially allocated to redeeming existing 4.875% notes due 2025. Additionally, the company amended its senior secured credit agreement to maintain $300 million in revolving loans, maturing in March 2026. President Thomas Amato emphasized that this refinancing reduces debt and enhances financial flexibility, allowing for continued strategic execution and shareholder value growth.
TriMas has priced its offering of $400 million in senior unsecured notes due 2029, with an interest rate of 4.125%. The offering is expected to close on March 29, 2021, pending customary conditions. Proceeds will be used to redeem outstanding 4.875% senior unsecured notes due 2025, with any remaining funds allocated for general corporate purposes. The offering is exempt from registration under the Securities Act and limited to qualified institutional buyers and certain non-U.S. persons.
TriMas Corporation (NASDAQ: TRS) has announced a $350 million offering of senior unsecured notes due 2029. The funds will be used to redeem existing 4.875% unsecured notes due 2025, with remaining proceeds allocated for general corporate purposes. The offering is exempt from registration under the Securities Act, targeting qualified institutional buyers and certain non-U.S. persons. This announcement does not constitute an offer to sell the notes or a notice of redemption for existing notes.
TriMas (NASDAQ: TRS) has announced the departure of Joshua Sherbin, Senior Vice President, General Counsel, and Chief Compliance Officer, after a 16-year tenure. Sherbin played a crucial role in guiding the company through acquisitions, divestitures, and governance matters, especially during the pandemic. His official duties will end on March 5, 2021, though he will remain with TriMas until May 11, 2021, for transitional support. Jodi Robin will act as interim General Counsel during the restructuring of the legal department.
TriMas reported a 10.1% increase in Q4 sales to $188.2 million and a 6.4% rise in full-year sales to $770 million, driven by its Packaging segment. Q4 diluted EPS rose 80% to $0.54, while adjusted EPS was $0.38, an 18.3% increase. Despite operational challenges, TriMas generated $127.4 million in operating cash flow for the year. The company ended 2020 with $312.3 million in cash and a leverage ratio of 1.8x. TriMas experienced a significant operating loss of $88.3 million due to impairment charges in Aerospace. For Q1 2021, sales growth is projected between 4% to 9% with adjusted EPS expected at $0.34 to $0.39.
TriMas (NASDAQ: TRS) will host its fourth quarter and full year 2020 earnings conference call on February 25, 2021, starting at 10 a.m. ET, following the earnings release at 8 a.m. The call can be accessed via phone at (800) 353-6461 or through a live webcast on the company’s website. A replay will be available from February 25 at 3 p.m. ET until March 4 at 3 p.m. ET. TriMas is a global manufacturer focused on consumer products, aerospace, and industrial markets, operating in 11 countries with approximately 3,500 employees.
