Core Insights - TriMas Corporation (TRS) reported first-quarter 2025 adjusted earnings per share (EPS) of 46 cents, exceeding the Zacks Consensus Estimate of 43 cents, marking a 24% increase from the prior-year quarter [1] - The company's revenues rose 6.4% year over year to $242 million, surpassing the Zacks Consensus Estimate of $233 million, driven by growth in the Packaging and Aerospace segments [2] - The company completed the acquisition of GMT Aerospace during the quarter, enhancing its capabilities in aerospace and defense applications [2] Financial Performance - Cost of sales increased 6% year over year to $185 million, while gross profit rose 8% to $57 million, resulting in a gross margin of 23.6%, up from 23.2% in the prior-year quarter [3] - Selling, general and administrative expenses increased slightly by 0.5% to $41 million, with operating profit rising to $21.8 million from $12.4 million in the first quarter of 2024 [4] - Adjusted operating profit increased 50% year over year to $24.4 million, with an adjusted operating margin of 10.1%, compared to 7.2% in the prior-year quarter [4] Segment Performance - Packaging segment net sales increased 0.4% year over year to $128 million, with adjusted operating profit decreasing 1.1% to $17.8 million [5] - Aerospace segment net sales surged 32.5% year over year to $89 million, with adjusted operating profit rising to $15 million from $7 million in the year-ago quarter [6] - Specialty Products segment revenues fell 24% year over year to $25 million, with adjusted operating profit dropping to $0.09 million from $2.6 million in the prior-year quarter [7] Cash Flow and Balance Sheet - The company generated $9.2 million in cash from operations in the first quarter of 2025, compared to an outflow of $3.7 million in the same quarter of 2024 [8] - As of March 31, 2025, TriMas had $32.7 million in cash, up from $23 million at the end of 2024, and $240.1 million in cash and available borrowing capacity under its revolving credit facility [8] - The company repurchased approximately 20,491 shares for $0.5 million, with total debt standing at $434.2 million at the end of the first quarter of 2025 [9] Stock Performance - TriMas' shares have declined by 7.3% over the past year, contrasting with the industry's growth of 8.4% [11]

Financial Data and Key Metrics Changes - Consolidated net sales increased by 6.4% year over year to $241.7 million, with organic revenue growth exceeding 8% when excluding currency and acquisitions [9] - Adjusted EBITDA rose by 13.5% to $39.7 million, with a margin improvement of 100 basis points to 16.4% [10] - Adjusted earnings per share increased to $0.46, representing a 24.3% growth year over year [10] - Consolidated operating profit increased by over 50% compared to Q1 2024, reflecting strong revenue growth and expanded operating margin [9] Business Line Data and Key Metrics Changes - Aerospace business achieved record sales of nearly $90 million, with organic growth of 27.8% [4][17] - Packaging segment experienced organic growth of 3.3%, with solid growth in dispensing products, although operating profit conversion rates were slightly lower due to proactive material procurement costs [12][14] - Specialty Products segment sales decreased by $7.9 million, primarily due to the divestiture of AeroEngine and lower cylinder demand [19] Market Data and Key Metrics Changes - The Aerospace and defense market showed continued momentum, contributing to the record sales in the Aerospace segment [5][18] - The Packaging group faced challenges from elevated customer inventory levels and geopolitical tariff dynamics, impacting demand in the closure product line [13][14] Company Strategy and Development Direction - The company is focused on navigating geopolitical challenges and is prepared to relocate production to mitigate tariff impacts [16] - A new larger facility in Vietnam has been launched to serve as a manufacturing hub for Asia and other regions [15] - The acquisition of GMT Aerospace is expected to enhance the company's positioning in the aerospace market, particularly with Airbus [39] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the long-term growth outlook, despite current uncertainties related to tariffs and geopolitical factors [22][43] - The company is monitoring order intake rates closely, particularly in the Specialty Products segment, which is beginning to show signs of recovery [20] - Management reaffirmed the 2025 outlook, indicating that uncertainties in trade strategy could impact future guidance [21][42] Other Important Information - The company successfully refinanced its senior secured revolving credit facility, extending its maturity to February 2030 [10] - Free cash flow improved by $14.8 million compared to Q1 2024, attributed to strong operational performance and disciplined working capital management [11] Q&A Session Summary Question: Any change to the segment guidance provided last quarter? - Management indicated no changes to segment guidance at this point due to uncertainty in the environment [28] Question: How to think about other investments or potential headwinds relative to packaging? - Management stated that they do not foresee additional abnormal expenses beyond those incurred in Q1 and are focused on procurement strategies to mitigate exposure [30] Question: Aerospace organic growth was solid; how to think about the cadence of growth moving forward? - Management acknowledged the expectation of modest operating leverage gains but emphasized a conservative approach due to uncertainty [34][35] Question: How will the acquisition of GMT Aerospace impact capacity and pricing? - Management expressed excitement about the acquisition and its potential to improve positioning, while also acknowledging the competitive dynamics in the aerospace market [39] Question: Are there any signs of pre-buying activity among customers due to tariffs? - Management noted some signs of pre-buying in certain product lines but did not observe significant abnormal inventory levels across the board [51] Question: How is the company thinking about organic pricing relative to volumes? - Management indicated that if tariffs persist, there may be an impact on the year-end guidance, with more clarity expected after Q2 [56]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended March 31, 2025 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 CORPORATION (Exact name of registrant as specified in its charter) Delaware 38-2687639 (IRS Empl ...

April 29, 2025 First Quarter 2025 Earnings Presentation Disclaimer Forward-Looking Statements Any "forward-looking" statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, contained herein, including those relating to TriMas' business, financial condition or future results, involve risks and uncertainties with respect to, including, but not limited to: general economic and currency conditions; competitive factors; market demand; our ...

TriMas (TRS) came out with quarterly earnings of $0.46 per share, beating the Zacks Consensus Estimate of $0.43 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 6.98%. A quarter ago, it was expected that this maker of packaging materials, aerospace components and other engineered parts would post earnings of $0.48 per share when it actually produced earnings of $0.43, delivering a s ...

TRIMAS REPORTS FIRST QUARTER 2025 RESULTS BLOOMFIELD HILLS, Michigan, April 29, 2025 - TriMas (NASDAQ: TRS) today announced financial results for the first quarter ended March 31, 2025. The Company reported first quarter 2025 net income of $12.4 million, or $0.30 per diluted share, compared to $5.1 million, or $0.12 per diluted share, in first quarter 2024. Adjusting for Special Items , first quarter 2025 adjusted net income was $18.8 million, compared to $15.1 million in first quarter 2024. First quarter 2 ...

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 ...

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]

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 ...

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 ____________________________ ...