Trimas Corporation - TRS STOCK NEWS

TriMas (NASDAQ: TRS) announces participation in two key investor conferences: the KeyBanc Capital Markets Industrials & Basic Materials Conference on June 2 in Boston, and the William Blair 42nd Annual Growth Stock Conference on June 9 in Chicago. TriMas CEO Thomas Amato and other executives will present at both events. The June 9 conference includes a presentation at 2:00 p.m. CT, which will be available via live webcast on TriMas' website, offering investors insight into the company’s performance and strategy.

TriMas (NASDAQ: TRS) reported its first-quarter 2022 financial results, achieving net sales of $224.3 million, an 8.5% increase from the previous year. The company noted improved operating profit of $21.9 million, but adjusted operating profit declined slightly to $26.2 million due to higher energy costs and inflation. Diluted EPS rose to $0.33, with adjusted diluted EPS reaching $0.50. The company reaffirms its 2022 outlook, targeting adjusted diluted EPS between $2.25 and $2.35, while aiming for Free Cash Flow to exceed 100% of net income. TriMas ended Q1 with a leverage ratio of 2.0x.

TriMas (NASDAQ: TRS) has declared a quarterly cash dividend of $0.04 per share, payable on May 12, 2022, to shareholders of record as of May 5, 2022. The dividend announcement is part of the company's capital allocation strategy initiated in October 2021. TriMas operates in diverse markets, including consumer products, aerospace, and industrial sectors, and employs around 3,500 staff across 13 countries.

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.