TriMas backs FY23 EPS $2.00-$2.20, consensus $1.98

The Company reaffirms its full year 2023 outlook provided on February 23 . The Company expects full year 2023 adjusted diluted earnings per share to be between $2.00 to $2.20 per share, based on consolidated sales growth of 10% to 15% compared to 2022. In addition, the Company is targeting full year 2023 Free Cash Flow(4) to be greater than 100% of net income. "Based on our current order book and visibility, we anticipate second quarter EPS to improve sequentially from the first quarter, albeit still significantly lower than the prior year quarter. We expect the second half of the year to be markedly improved compared to the first half, as we lap the year-over-year impact of customer inventory rebalancing, and expect a return to a more normalized seasonal selling period. We believe our strategy will continue to drive long-term value for our shareholders, and remain confident in our prospects for the future," commented Amato. Consensus for FY 23 revenue is $984.5M.