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Jun 30, 2021
TriMas Q2 2021 Earnings Report
TriMas' Packaging Group posted record quarterly sales and operating profit.
Key Takeaways
TriMas reported a 9.7% increase in second-quarter net sales, driven by growth in all segments. The Packaging segment achieved record quarterly sales and operating profit. Diluted EPS was $0.27, while adjusted diluted EPS increased by 19.2% to $0.62.
Increased second quarter net sales by 9.7%, driven by year-over-year sales growth in all segments
Achieved record quarterly sales and operating profit in the Packaging segment
Leveraged increased sales in the Specialty Products segment to achieve significant margin expansion
Reported diluted EPS of $0.27, while adjusted diluted EPS increased by 19.2% to $0.62
Revenue by Segment
Forward Guidance
The Company expects full year 2021 sales growth of 9% to 14% compared to 2020, and adjusted EPS to range between $2.15 to $2.30 per share, a 16% increase at the midpoint compared to 2020. The Company is continuing to forecast 2021 Free Cash Flow to be greater than 100% of net income.
Positive Outlook
- Expects TriMas’ consolidated sales to range between $840 million and $875 million, or sales growth of approximately 9% to 14%, as compared to full year 2020, with sales in all three segments anticipated to increase year-over-year.
- Expects full year 2021 adjusted diluted earnings per share in the range of $2.15 to $2.30 per share, representing a year-over-year increase of approximately 16% at the midpoint.
- Continuing to forecast 2021 Free Cash Flow to be greater than 100% of net income.
- All amounts considered as 2021 guidance are after adjusting for any current or future amounts that may be considered Special Items
- Guidance is after acquisition-related intangible asset amortization expense for deals that have not yet been consummated.
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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