Fourth Quarter and Full Year 2024 Earnings Presentation February 27, 2025 Disclaimer Forward-Looking Statements Packaging: Strong organic growth of nearly 10%, while continuing to improve efficiency related to the high demand rates for certain dispenser product lines as customer orders rebounded from prior year levels – Positioned well for 2025 Aerospace: Record sales levels with growth of 22%, accompanied by improved conversion rates of ~450 basis points – Entering 2025 with a record backlog Specialty Prod ...

TriMas Corporation (TRS) reported fourth-quarter 2024 adjusted earnings per share (EPS) of 43 cents, missing the Zacks Consensus Estimate of 48 cents. The bottom line increased 13.2% from the prior-year quarter. Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Including the impacts of one-time items, the company reported an EPS of 14 cents compared with the year-ago quarter's 19 cents.TRS's revenues increased 8.8% year over year to $228 million, attributed to growth in the Packaging an ...

Financial Data and Key Metrics Changes - Consolidated sales increased by 8.8% in Q4 2024 compared to the prior year, driven by solid organic growth in the Packaging and Aerospace segments [19][21] - Net income rose by 13.2% year-over-year, with earnings per share (EPS) at $0.43 [21] - Adjusted EBITDA for the quarter was $42.2 million, representing 18.5% of sales [20] Business Line Data and Key Metrics Changes - TriMas Packaging, representing 55% of total sales, achieved organic growth of nearly 10% year-over-year, with sales of $123 million in Q4 [7][24] - TriMas Aerospace, accounting for 32% of total sales, saw a 22% increase in net sales compared to the previous year, with a record backlog exceeding $350 million [30] - Specialty Products segment, representing 13% of total sales, experienced a decline in sales by about 6.5%, with net sales of $26.6 million [12][33] Market Data and Key Metrics Changes - The beauty and personal care markets drove significant growth in the Packaging segment, with over 25% year-over-year organic sales growth [25] - The aerospace and defense market is recovering, contributing to improved EBITDA rates in the Aerospace segment [10] Company Strategy and Development Direction - The company is focused on enhancing its portfolio through strategic acquisitions and divestitures, including the acquisition of GMT Aerospace and the sale of its aero engine business [15][17] - TriMas aims to leverage its strong balance sheet to invest in growth, return capital to shareholders, and pursue bolt-on acquisitions [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery in the Packaging and Aerospace segments, anticipating continued growth in 2025 [39][41] - The company is taking proactive steps to address challenges in the North Cylinder business, expecting improvements as demand recovers [41] Other Important Information - The company completed the acquisition of GMT Aerospace, which adds a manufacturing location in Europe and is expected to enhance its presence in the aerospace market [15][16] - The divestiture of the aero engine business is part of a strategic shift to reduce exposure to the oil and gas market [17] Q&A Session Summary Question: Can you quantify the implied incremental margins in each business for 2025? - Management expects margin uplift in Packaging of 100 to 150 basis points, Aerospace of 150 to 200 basis points, and North Cylinder of 100 to 150 basis points [52][53] Question: What is the impact of tariffs on margins and how quickly can the company respond? - Management indicated that they can respond relatively quickly to tariff changes on a commercial front, but long-term adjustments may take 12 to 18 months [56][58] Question: Any updates on the CEO replacement search and portfolio focus? - The board is actively working on the CEO search and assessing the best ways to unlock value from the business segments [60][66]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________________________________________________ Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-10716 ____________________________ ...

TriMas (TRS) came out with quarterly earnings of $0.43 per share, missing the Zacks Consensus Estimate of $0.48 per share. This compares to earnings of $0.37 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -10.42%. A quarter ago, it was expected that this maker of packaging materials, aerospace components and other engineered parts would post earnings of $0.57 per share when it actually produced earnings of $0.43, delivering a ...

Financial Performance - TriMas reported fourth quarter 2024 net sales of $228.1 million, an increase of 8.8% compared to $209.6 million in the same quarter of 2023[3]. - For full year 2024, TriMas achieved net sales of $925.0 million, reflecting a 3.5% increase from 2023, despite a 37.2% decline in the Specialty Products segment[4]. - The Aerospace group experienced a quarterly sales growth of 22.3%, contributing to record annual sales of $294.2 million[5]. - Adjusted operating profit for fourth quarter 2024 was $23.2 million, a 23.5% increase from $18.8 million in the prior year[3]. - Full year 2024 adjusted net income was $67.7 million, down from $79.9 million in 2023, with adjusted diluted earnings per share at $1.65 compared to $1.92 in the previous year[4]. - The Packaging group saw a sales increase of 8.4% in the fourth quarter, driven by growth in beauty and personal care markets[7]. - The Specialty Products group reported a 16.8% decrease in fourth quarter sales, attributed to a decline in demand and lower absorption of fixed costs[8]. - Reported net income for Q4 2024 was $5,640,000, a decrease of 29% compared to $7,940,000 in Q4 2023[27]. - Adjusted net income for Q4 2024 was $17,520,000, up 11% from $15,810,000 in Q4 2023[27]. - Diluted earnings per share (EPS) for Q4 2024 was $0.14, down from $0.19 in Q4 2023, while adjusted diluted EPS increased to $0.43 from $0.38[27]. Cash Flow and Debt - The Company ended 2024 with $23.1 million in cash and a net leverage ratio of 2.6x, with total debt reported at $398.1 million[6]. - Cash and cash equivalents at the end of 2024 were $23.07 million, down from $34.89 million at the end of 2023, indicating a decrease of 33.8%[24]. - The company reported a net cash provided by operating activities of $63.78 million for the twelve months ended December 31, 2024, compared to $88.16 million in 2023[24]. - Net cash provided by operating activities for the twelve months ended December 31, 2024, was $63,780,000, down from $88,160,000 in 2023[29]. - Net debt increased to $375,050,000 as of December 31, 2024, from $360,770,000 in 2023[29]. - Long-term debt as of December 31, 2024, was $398,120,000, slightly up from $395,660,000 in 2023[29]. Shareholder Actions - TriMas repurchased 771,067 shares for $19.3 million in 2024, reducing net shares outstanding by approximately 1.5%[6]. Future Projections - TriMas expects consolidated sales to increase by 4% to 6% in 2025, with adjusted diluted earnings per share projected between $1.70 to $1.85, a 7% increase compared to 2024[9]. - The company expects diluted EPS for the twelve months ending December 31, 2025, to range from $1.23 to $1.38, with adjusted diluted EPS projected between $1.70 and $1.85[31]. Special Items and Adjustments - The company incurred special items totaling $35.65 million in 2024, impacting the evaluation of operating profit significantly compared to $24.01 million in 2023[26]. - Special items impacting net income included $10,620,000 in business restructuring and severance costs for Q4 2024[27]. - Adjusted operating profit for the total company in 2024 was $82.84 million, down from $89.45 million in 2023, reflecting ongoing challenges in the market[26]. Asset and Liability Overview - Total current assets increased to $426.64 million in 2024 from $397.38 million in 2023, primarily driven by higher receivables and inventories[19]. - Total liabilities decreased slightly to $656.88 million in 2024 from $658.71 million in 2023, with long-term debt remaining stable at $398.12 million[19]. - Gross profit for the twelve months ended December 31, 2024, was $199.46 million, slightly down from $201.32 million in 2023, reflecting a gross margin of 21.5%[21]. - Operating profit for the fourth quarter of 2024 was $8.62 million, a decrease of 26.0% compared to $11.63 million in the fourth quarter of 2023[21]. - Net income for the twelve months ended December 31, 2024, was $24.25 million, down from $40.36 million in 2023, resulting in a basic earnings per share of $0.60 compared to $0.97 in the previous year[21].

Wall Street expects a year-over-year increase in earnings on higher revenues when TriMas (TRS) reports results for the quarter ended December 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on February 27. On ...

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Believes Now is the Optimal Time Given the Contemplated CEO TransitionNEW YORK, Jan. 10, 2025 /PRNewswire/ -- Barington Capital Group, L.P., which together with its affiliates collectively owns approximately 1.5% of TriMas Corporation (NasdaqGS: TRS), announced today that it has sent a letter to Herbert K. Parker, the Chairman of the Board of Directors of TriMas, urging the Board to immediately retain a financial advisor to pursue strategic alternatives for the Company.The full text of Barington's letter to ...

TriMas Corporation (TRS) announced that it opened a highly developed 225,000-square-foot facility in Haining, China, for its TriMas Packaging group . This move reflects the company’s commitment to offering its customers high-quality packaging solutions, focusing on operational excellence and innovation.Details of TriMas’ New FacilityTriMas announced last year that it would consolidate two manufacturing facilities into one to better serve customers across China and the wider Asia markets. The company closed ...