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Jun 30, 2023
TriMas Q2 2023 Earnings Report
Reported a decrease in net sales, but experienced growth in TriMas Specialty Products and TriMas Aerospace groups. Achieved three sequential months of strengthening order backlogs during the second quarter within TriMas Packaging group.
Key Takeaways
TriMas reported a slight decrease in net sales for Q2 2023, offset by growth in the TriMas Specialty Products and Aerospace segments. The company is adjusting its full-year outlook due to a slower-than-anticipated recovery in the packaging market.
Increased second quarter net sales in TriMas Specialty Products and TriMas Aerospace groups by 33.7% and 26.2%, respectively.
Achieved three sequential months of strengthening order backlogs during second quarter within TriMas Packaging group.
Reduced net outstanding shares through six months by 0.7%, as a result of repurchasing more than 450,000 shares of common stock.
Published updated Sustainability Report highlighting progress achieved in 2022
Revenue by Segment
Forward Guidance
The Company is revising its full year 2023 outlook provided on February 23, 2023. The Company is now expecting to generate full year 2023 adjusted diluted earnings per share in the range of $1.80 to $1.95, based on revised consolidated sales growth of 5% to 10% compared to 2022. In addition, the Company continues to target its full year 2023 Free Cash Flow to be greater than 100% of net income.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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