TriMas reports Q4 EPS 37c, two estimates 53c

Reports Q4 revenue $209.6M, two estimates $246.44M. “As we concluded 2023, we were pleased by the ongoing upward trend in our order intake, sales and conversion within our TriMas Aerospace group, and also by our TriMas Packaging group’s gains in order intake momentum,” said Thomas Amato, TriMas President and Chief Executive Officer. “While this positive momentum in our two largest segments was encouraging, demand in our Specialty Products businesses softened well beyond our expectations, as customers postponed their capital expenditure purchases to rebalance inventory levels toward year end.” “Although we encountered a challenging macro demand environment in 2023, our intense focus on cost management and operational improvements establishes a promising foundation for 2024. We addressed many of the critical sub-supply constraints to meet heightened demand in TriMas Aerospace, and rationalized our manufacturing and distribution footprint in TriMas Packaging. Throughout the year, we also continued to invest in the capabilities essential for our future growth, prioritizing innovation, sustainable solutions and digital transformation.”