TriMas Q1 sales rise 10.4%, adjusted EPS up 60%

Overview

• US packaging and specialty products maker's Q1 sales rose 10.4% yr/yr on organic growth

• Adjusted diluted EPS for Q1 rose 60% to $0.24

• Company completed TriMas Aerospace sale, generating $1.2 bln in net proceeds, and repurchased 1.5 mln shares

Outlook

• TriMas reaffirms 2026 sales growth outlook of 3% to 6% year-over-year

• Company expects more than 300 basis points of adjusted operating profit margin improvement in 2026

• TriMas sees 2026 adjusted diluted EPS from continuing operations of $1.50 to $1.70

Result Drivers

• ORGANIC GROWTH & FX - Sales growth was driven by organic growth in Packaging and Specialty Products, with additional benefit from favorable foreign currency exchange

• COST REDUCTION & OPERATIONAL IMPROVEMENTS - Adjusted operating profit rose due to stronger sales and execution of cost-out and operational improvement initiatives

• SEGMENT DEMAND SHIFTS - Packaging sales rose on higher demand in beauty, personal care, and life science markets, while Specialty Products growth was led by Norris Cylinder

Company press release: ID:nBw6c5bGza

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the non-paper containers & packaging peer group is "buy"

• Wall Street's median 12-month price target for TriMas Corp is $45.00, about 24.7% above its April 29 closing price of $36.08

• The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 29 three months ago

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