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Jun 30, 2022
TriMas Q2 2022 Earnings Report
Increased net sales and operating profit, with diluted EPS of $0.47 and adjusted diluted EPS of $0.60.
Key Takeaways
TriMas reported an 8.5% increase in net sales, driven by the Specialty Products group, and a 16.8% increase in operating profit. Diluted EPS was $0.47, and adjusted diluted EPS was $0.60. The company reaffirmed its full-year outlook.
Net sales increased by 8.5%, led by the Specialty Products group with 20.5% sales growth.
Operating profit increased by 16.8% to $29.9 million, and adjusted operating profit increased by 7.2% to $32.1 million.
Diluted EPS was reported at $0.47, with an adjusted diluted EPS of $0.60.
927,987 shares of outstanding common stock were repurchased, reducing net shares outstanding by approximately 1.8% during the first half of 2022.
Revenue by Segment
Forward Guidance
The Company reaffirms its full year 2022 outlook originally provided on March 1, 2022. The Company expects to generate full year 2022 adjusted diluted earnings per share in the range of $2.25 to $2.35, based on consolidated sales growth of 8% to 11% compared to 2021. In addition, the Company is targeting 2022 Free Cash Flow to be greater than 100% of net income.
Positive Outlook
- Expects to generate full year 2022 adjusted diluted earnings per share in the range of $2.25 to $2.35.
- Based on consolidated sales growth of 8% to 11% compared to 2021.
- Targeting 2022 Free Cash Flow to be greater than 100% of net income.
Challenges Ahead
- Includes the impact of all announced acquisitions, but excludes any additional future direct or indirect impacts that may result from additional supply or labor disruptions related to the COVID pandemic or other factors.
- Excludes the geopolitical risks related to the ongoing conflict in Eastern Europe.
- All amounts are after adjusting for any current or future amounts that may be considered Special Items.
- Adjusted diluted earnings per share, acquisition-related intangible asset amortization expense for deals that have not yet been consummated is excluded.
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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