Trimas Corporation - TRS STOCK NEWS

TriMas (NASDAQ: TRS) will conduct its first quarter 2023 earnings conference call on April 27, 2023, at 10 a.m. Eastern Time, following the earnings release at 8 a.m. that same day. Participants can join via phone or through a live webcast on the company's website. A replay will be available from April 27 at 3 p.m. until May 11 at 3 p.m. Participants can dial specific numbers to access the call or the replay. TriMas designs and manufactures products for consumer, aerospace, and industrial markets, with a workforce of approximately 3,500 employees across 13 countries.

TriMas (NASDAQ: TRS) has appointed Jeffrey Fielkow as a new director, effective March 8, 2023. With over 30 years of experience in the packaging industry, Fielkow will also serve on the Governance and Nominating Committee. His background includes leadership roles at ID Images, LLC and Tetra Pak, where he emphasized sustainability and operational growth. Fielkow's expertise in innovation and M&A is expected to complement TriMas' existing board as the company focuses on future growth. The board now consists of nine members, with eight being independent.

TriMas (NASDAQ: TRS) reported a 3.1% increase in 2022 net sales, reaching $883.8 million, despite a 2.7% decline in Q4 sales to $203.3 million. Operating profit for 2022 rose to $99.1 million, a 4.2% increase from 2021.

Adjusted earnings per share for Q4 were $0.62, a 10.7% increase from the previous year. The company anticipates a 10% to 15% sales increase for 2023, with adjusted EPS projected between $2.00 and $2.20. TriMas aims to achieve over 100% of net income in Free Cash Flow for 2023, expecting recovery in demand for its Packaging segment throughout the year.

TriMas (NASDAQ: TRS) has signed an agreement to acquire Weldmac Manufacturing Company, enhancing its TriMas Aerospace platform. This acquisition aims to integrate Weldmac's high-performance metal components and assemblies into TriMas Aerospace's offerings for the aerospace, defense, and space launch sectors. Expected to close in the coming months, this strategic move is anticipated to expand TriMas Aerospace's capabilities and product range, benefiting both Weldmac and TriMas customers. Weldmac generated approximately $33 million in revenue in 2022 and is known for its advanced manufacturing services and certifications.

TriMas (NASDAQ: TRS) has announced a quarterly cash dividend of $0.04 per share, payable on March 9, 2023, to shareholders of record as of March 2, 2023. This decision reflects the company's commitment to returning value to its investors. TriMas operates in the consumer products, aerospace, and industrial markets, with around 3,500 employees across 13 countries. The company emphasizes strong brand presence and innovative product solutions as it continues to navigate various market challenges.

TriMas (NASDAQ: TRS) has acquired Aarts Packaging B.V., a prominent provider of luxury packaging solutions, enhancing its TriMas Packaging platform. This acquisition, effective immediately, focuses on beauty, food, and life sciences sectors, adding significant cosmetic dispenser closures to its offerings. Aarts Packaging, based in the Netherlands, generated €23 million in revenue in 2022. The acquisition aims to leverage TriMas's global manufacturing capabilities and resources, promising expanded design and production capabilities to Aarts's clients.

TriMas (NASDAQ: TRS) will host its fourth quarter and full year 2022 earnings conference call on February 23, 2023, at 10 a.m. Eastern Time, following the release of earnings results at 8 a.m.. Stakeholders can participate by dialing (877) 407-0890 (U.S. and Canada) or +1 (201) 389-0918 (international). The call will be webcast live on the company's website. A replay will be available from 3 p.m. on February 23 until 3 p.m. on March 9. TriMas specializes in designing and manufacturing products for various markets, employing approximately 3,500 employees across 13 countries.

TriMas (NASDAQ: TRS) announced that its TriMas Packaging facility in Hamilton, Indiana, has achieved FSSC 22000 certification, a key standard in food safety for the food and beverage sector. This certification reflects TriMas Packaging’s commitment to growth and quality, enhancing its manufacturing processes. The certification, awarded by SGS, complements its existing ISO 9001:2015 certification, reinforcing industry best practices. TriMas Packaging serves global markets with a range of packaging solutions across various sectors, including food, beauty, and pharmaceuticals.

TriMas (NASDAQ: TRS) announced the winners of its 2022 Kaizen Challenge, recognizing impactful projects from its Aerospace and Packaging divisions. The challenge, launched five years ago, has seen over 147 projects submitted globally. This year's winning projects include an Optimizing Subcontracting Supply project aimed at streamlining subcontracting processes, and a Productivity Improvement project focused on meeting customer demand through enhanced manufacturing practices. TriMas emphasizes employee engagement in driving sustainable improvements.