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Mar 31, 2021
TriMas Q1 2021 Earnings Report
TriMas reported first quarter net sales increase driven by record first quarter sales in TriMas' Packaging segment, increased operating profit due to continued momentum in TriMas' Packaging segment and margin expansion in the Specialty Products segment, completed the successful refinancing of its capital structure, and announced Chief Financial Officer transition as part of succession planning.
Key Takeaways
TriMas reported a strong start to 2021 with first quarter results exceeding expectations, achieving a sales growth rate of 13.1% and adjusted diluted EPS of $0.40. The company's performance was driven by positive momentum in the Packaging segment and better-than-expected performance in the Specialty Products segment.
Increased first quarter net sales by 13.1%, driven by record first quarter sales in TriMas' Packaging segment
Increased operating profit due to continued momentum in TriMas' Packaging segment and margin expansion in the Specialty Products segment
Completed the successful refinancing of its capital structure, extending maturities on both its credit facility and senior notes, and locking in a historically low rate on its fixed rate debt
Announced Chief Financial Officer transition as part of succession planning
Revenue by Segment
Forward Guidance
For the second quarter of 2021, TriMas expects consolidated sales to range between $205 million and $223 million, with sales in all three segments anticipated to increase year-over-year. The Company expects second quarter 2021 adjusted diluted earnings per share in the range of $0.50 to $0.57 per share. The Company is continuing to forecast 2021 Free Cash Flow to be greater than 100% of net income.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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