TriMas seesFY24 EPS $1.95-$2.15, consensus $2.32

The Company expects TriMas’ 2024 consolidated sales to increase 5% to 8% compared to 2023.”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.” “Looking ahead to 2024 and beyond, we believe that TriMas’ strong balance sheet and cash generation will consistently afford us opportunities to invest in organic growth, pursue bolt-on acquisitions, pay a dividend and repurchase shares. We are dedicated to delivering long-term value for our shareholders, and remain confident in the strength of our market positions and underlying businesses,” concluded Amato.