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TRS

TriMas

$28.08 /

+0.03 (+0.11%)

08:26
02/27/20
02/27
08:26
02/27/20
08:26

TriMas reports Q4 adj. EPS 31c, consensus 38c

Reports Q4 revenue $170.9M, consensus $225.73M. "Throughout the past year, we have made significant strides to reposition TriMas," said Thomas Amato, TriMas President and CEO. "In December, we completed the sale of Lamons, further focusing TriMas on our highest value proposition businesses and significantly decreasing our exposure to the oil and gas market to under 5% of sales. In addition to the two acquisitions in the Packaging group in 2019, we also recently announced our agreement to acquire Rapak with its bag-in-box dispensing innovative product lines. Separately, we announced the acquisition of RSA Engineered Products, which expands our aerospace presence into environmental control system applications, the defense and business jet markets, and aerospace aftermarket. While taking significant strategic actions to focus TriMas on the more attractive packaging and aerospace markets, we have also increased our cadence of buying back shares, acquiring 2.7% of our total shares outstanding during 2019. In addition, we increased TriMas' share repurchase authorization to $150 million, enabling us to continue to return capital to our shareholders. We remain committed to allocating capital on a balanced basis, while maintaining a solid balance sheet. During the fourth quarter, we achieved sales growth due to the continued strength of our aerospace fastener business and recent acquisitions. However, fourth quarter sales were softer than planned, primarily across the North American industrial end markets which we serve in our Packaging and Specialty Products segments. Despite lower sales levels, less favorable mix and increased expedited freight costs, we achieved fourth quarter and full year adjusted EPS from continuing operations of 31c and $1.45, respectively, with the full year level at the high end of the previously provided range of $1.40 to $1.45. We will continue to take actions to drive long-term performance under the TriMas Business Model.

  • 27

    Feb

TRS TriMas
$28.08 /

+0.03 (+0.11%)

01/07/20 KeyBanc
NN, Inc. could 'benefit the most' from strategic divestiture, says KeyBanc

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