Trimas Corporation - TRS STOCK NEWS

TriMas (NASDAQ: TRS) will host its third quarter 2021 earnings conference call on October 28, 2021, at 10 a.m. Eastern Time. The earnings results will be released earlier that day at 8 a.m.. Participants can join by calling (800) 367-2403 with the confirmation code 5060586 or via webcast at TriMas’ website. A replay will be available from October 28, 3 p.m. until November 4, 3 p.m. by dialing (888) 203-1112 (Replay Passcode 5060586).

TriMas reported strong Q2 2021 results with a 9.7% increase in net sales, reaching $219 million, and a return to profit with diluted EPS of $0.27 compared to a loss in the prior year. Adjusted diluted EPS grew 19.2% to $0.62. The company achieved record sales and operating profit in its Packaging segment and gained margin expansion in Specialty Products despite rising costs. TriMas expects sales growth of 9% to 14% for the full year, projecting adjusted EPS of $2.15 to $2.30.

TriMas (NASDAQ: TRS) has launched the Mono™-2e dispenser pump, a fully recyclable product from its Rieke division. This innovative pump is made from a single polymer grade resin, enhancing recyclability without requiring sorting. The Mono™-2e pump, recognized as a finalist for the Sustainability Packaging Coalition Innovator Awards in 2020, is e-commerce ready and designed to reduce carbon footprint. TriMas continues to focus on sustainability as a core value, with plans for more single-material products. The new pump enhances its portfolio and aligns with evolving customer sustainability goals.

TriMas (NASDAQ: TRS) is expanding its North American manufacturing with a new 230,000 sq. ft. facility in New Albany, Ohio, set to open in Q2 2022. This automated plant will enhance production capacity for foaming and traditional dispensers, particularly for the beauty and personal care market. The facility aims to improve sustainability by reducing energy consumption and localizing production for products currently made overseas. TriMas Packaging, with 2,000 employees and multiple brands, continues to focus on operational excellence and customer collaboration.

TriMas (NASDAQ: TRS) will host its second quarter 2021 earnings conference call on July 29, 2021, starting at 10 a.m. Eastern Time. This follows the release of earnings results at 8 a.m. the same day. Participants can join by calling (800) 367-2403 using Confirmation Code 7302308. The call will also be available via webcast on TriMas' website. A replay will be accessible from July 29 at 3 p.m. through August 5, 2021, by dialing (888) 203-1112 with a Replay Passcode of 7302308.

TriMas announced that its Norris Cylinder business has achieved the "Made in the USA" designation, making it the only remaining manufacturer of forged steel high-pressure and acetylene cylinders in the U.S. This recognition is seen as a positive development for Norris Cylinder's commitment to quality and service in the compressed industrial gas industry. With manufacturing locations in Texas and Alabama, Norris Cylinder sources most materials domestically, enhancing control over lead times and quality.

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.