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Mar 31, 2020
TriMas Q1 2020 Earnings Report
TriMas reported mixed results for Q1 2020, with increased net sales offset by challenges from the COVID-19 pandemic.
Key Takeaways
TriMas reported a 5.4% increase in net sales for the first quarter of 2020, driven by acquisitions and organic growth in the Packaging group. Diluted EPS from continuing operations was $0.30, with adjusted diluted EPS at $0.34. The company completed acquisitions of RSA Engineered Products and Rapak during the quarter. Due to the COVID-19 pandemic, TriMas withdrew its full-year 2020 guidance.
Net sales increased by 5.4% due to acquisitions and organic growth in the Packaging segment.
Diluted EPS from continuing operations was $0.30, and adjusted diluted EPS was $0.34.
Completed acquisitions of RSA Engineered Products and Rapak.
Withdrew full-year 2020 guidance due to COVID-19 related uncertainty.
Revenue by Segment
Forward Guidance
Due to the COVID-19 pandemic and the resulting economic uncertainty, TriMas is withdrawing its full year guidance for 2020, which was previously provided on February 27, 2020.
Positive Outlook
- Longer-term growth strategy remains consistent.
- TriMas is well positioned financially and strategically.
- Confident in TriMas Business Model.
- Strong brands and innovative product solutions.
- Talented and dedicated employees.
Challenges Ahead
- COVID-19 pandemic is causing demand, operational and economic uncertainty.
- Unable to forecast the impact of this crisis on certain of our businesses with any precision.
- Managing production capacity to prevailing demand conditions.
- Taking steps to realign costs for volume shortfalls.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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