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Dec 31, 2020
TriMas Q4 2020 Earnings Report
TriMas reported increased fourth quarter and full year 2020 sales, driven by record sales in the Packaging group, and provided first quarter 2021 outlook.
Key Takeaways
TriMas reported a 10.1% increase in fourth-quarter sales, driven by robust organic sales growth in Packaging and the impact of recent acquisitions, partially offset by weak demand in aerospace and industrial businesses due to COVID-19. Diluted EPS from continuing operations increased 80.0% to $0.54, while adjusted diluted EPS from continuing operations increased 22.6% to $0.38 compared to Q4 2019.
Increased fourth quarter sales by 10.1%, driven by record sales in TriMas' Packaging group.
Increased fourth quarter diluted EPS from continuing operations 80.0% to $0.54, while adjusted diluted EPS from continuing operations increased 22.6% to $0.38 compared to Q4 2019.
Generated full year 2020 net cash provided by operating activities from continuing operations of $127.4 million, an increase of 33.1% compared to $95.7 million in 2019.
Acquired Affaba & Ferrari, expanding TriMas’ Packaging group.
Revenue by Segment
Forward Guidance
Given the continued market uncertainties arising from the global COVID-19 pandemic, the Company is providing first quarter outlook at this time.
Positive Outlook
- Expect first quarter sales growth of 4% to 9% compared to first quarter 2020.
- Sales in the Packaging segment anticipated to increase.
- Expect first quarter 2021 adjusted diluted earnings per share in the range of $0.34 to $0.39 per share.
- Targeting 2021 Free Cash Flow to be greater than 100% of net income.
Challenges Ahead
- Continued weaker demand in the Aerospace segment.
- Continued weaker demand in the Specialty Products segments.
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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