Trimas Corporation - TRS STOCK NEWS

TriMas (NASDAQ: TRS) will present at the Bank of America Securities 2022 Leveraged Finance Conference on November 29, 2022, at 10:10 a.m. ET in Boca Raton, Florida. Their presentation will be available via live webcast on the company’s Investor Relations page. TriMas specializes in manufacturing products for consumer, aerospace, and industrial markets, employing roughly 3,500 personnel across 13 countries. The company is known for its strong brand presence within its sectors.

TriMas (NASDAQ: TRS) reported its third quarter 2022 financial results, revealing a 1.7% decline in net sales to $218.5 million, compared to $222.4 million in Q3 2021. Operating profit decreased to $21.0 million from $30.8 million, with adjusted diluted earnings per share of $0.40, down from $0.57.

Despite these challenges, including inflation and supply chain issues, TriMas remains optimistic, expecting adjusted EPS between $2.10 and $2.18 for the year. The company repurchased over 1 million shares in 2022 and ended Q3 with a solid $378.3 million in cash availability.

TriMas has announced a quarterly cash dividend of $0.04 per share, payable on November 10, 2022, to shareholders on record as of November 3, 2022. This dividend indicates the company's commitment to returning value to shareholders amidst its operations across consumer products, aerospace, and industrial markets. TriMas operates globally with approximately 3,500 employees, emphasizing innovation and quality in its diverse product offerings.

TriMas (NASDAQ: TRS) will host its third quarter 2022 earnings conference call on October 27, 2022, at 10 a.m. Eastern Time, following the earnings release at 8 a.m. that same day. Investors can join via phone by dialing (888) 254-3590 with confirmation code 3906527 or through a webcast on the company's website. A replay will be available from October 27, 3 p.m. ET to November 3, 3 p.m. ET.

TriMas manufactures products for aerospace and consumer markets, employing approximately 3,500 people across 13 countries.

TriMas (NASDAQ: TRS) announced that its Aerospace division, Allfast Fastening Systems, received the Supply Chain Performance Achievement Certificate from Boeing for the tenth consecutive year. The award recognizes suppliers for superior performance, and Allfast maintained a Silver performance rating throughout 2021. John Schaefer, President of TriMas Aerospace, highlighted the team's commitment to quality, on-time delivery, and customer satisfaction. The company continues to serve the global aerospace industry with various engineered products.

TriMas reported an 8.5% increase in net sales to $237.7 million for Q2 2022, driven by a 20.5% growth in its Specialty Products group. Operating profit rose 16.8% to $29.9 million, with diluted EPS at $0.47 and adjusted diluted EPS at $0.60. The company repurchased 927,987 shares, reducing outstanding shares by 1.8%. TriMas reaffirmed its 2022 outlook with adjusted EPS projected between $2.25 and $2.35, expecting sales growth of 8% to 11%. The financial position remains strong with $348.1 million in cash and a leverage ratio of 2.0x.

TriMas declared a quarterly cash dividend of $0.04 per share, payable on August 11, 2022, to shareholders of record as of August 4, 2022. This marks the initiation of a dividend as part of the company's capital allocation strategy, announced in October 2021. TriMas operates in the consumer products, aerospace, and industrial markets with approximately 3,500 employees across 13 countries.

TriMas (NASDAQ: TRS) will hold its second quarter 2022 earnings conference call on July 28, 2022, at 10 a.m. Eastern Time, following the earnings results release at 8 a.m. The call can be accessed by dialing (888) 220-8451, with a conference code of 7250176. A webcast will also be available on the company’s website. For those unable to attend live, a replay will be accessible from July 28 to August 4 via dial-in or the website. TriMas operates in consumer products, aerospace, and industrial markets.

TriMas (NASDAQ: TRS) has announced multi-year contracts awarded to its Aerospace group by Boeing for the T-7A Red Hawk training jet program. The contracts cover components for fluid conveyance applications, marking an expansion of TriMas' defense business. CEO Thomas Amato expressed enthusiasm for the collaboration, emphasizing Boeing's role as a crucial customer for aerospace growth. Production is set to ramp up towards the end of the year, leveraging innovations from RSA Engineered Products. This development aligns with TriMas’ strategy to enhance its aerospace offerings and gain market share.