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BLOOMFIELD HILLS, Mich. - TriMas Corp . (NASDAQ:TRS) reported fourth-quarter earnings that beat analyst estimates, but its shares tumbled 7% after the company provided weaker-than-expected guidance for 2025.
The diversified manufacturer posted adjusted earnings per share of $0.43 for Q4, surpassing the analyst consensus of $0.39. Revenue rose 8.8% YoY to $228.1 million, also topping expectations of $222.08 million.
TriMas saw strong performance in its Aerospace and Packaging (NYSE:PKG) segments, with Aerospace sales jumping 22.3% YoY to $78.3 million and Packaging sales growing 8.4% to $123.1 million. However, Specialty Products sales declined 16.8% to $26.6 million.
For the full year 2024, TriMas reported adjusted EPS of $1.65 on revenue of $925 million, up 3.5% from 2023.
Looking ahead, the company expects 2025 sales to increase 4% to 6% compared to 2024. However, TriMas forecasts full-year 2025 adjusted EPS of $1.70 to $1.85, below the analyst consensus of $2.01, disappointing investors.
"Given our cost restructuring actions within Norris Cylinder, we are positioned to deliver improved performance as the cylinder market recovers," said Thomas Amato, TriMas President and CEO.
The company repurchased 771,067 shares for $19.3 million in 2024 and paid a quarterly dividend of $0.04 per share.
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