Tue, Apr 29, 6:35 PM (24 days ago)
**TriMas Corporation (TRS) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $241.7 million, up 6.4% YoY. - **Profit Margins:** Gross margin at 23.6%, operating margin at 9.0%. - **Earnings:** Net income of $12.4 million, up 143% YoY. - **Cash Flow:** Operating cash flow of $9.2 million, up from a use of $3.7 million in Q1 2024. - **Earnings per Share (EPS):** Basic EPS of $0.31, diluted EPS of $0.30. **Segment Performance:** - **Packaging:** Sales up 0.4% to $127.6 million, operating profit up 0.6% to $17.2 million. - **Aerospace:** Sales up 32.5% to $89.2 million, operating profit up 114% to $15.1 million. - **Specialty Products:** Sales down 24% to $24.9 million, operating loss of $1.2 million. **Key Events & Trends:** - **Acquisitions:** Acquired GMT Aerospace for $37.2 million. - **Divestitures:** Sold Arrow Engine business for $20.5 million, gaining $5.3 million. - **Realignment Costs:** $3.8 million in realignment costs for corporate office reorganization. - **Debt Refinancing:** Extended credit agreement maturity to March 2030, incurring $1.3 million in fees. - **Currency Impact:** $3.8 million negative impact from currency exchange. **Uncertainties & Future Operations:** - **Tariffs & Trade:** Uncertainty due to tariffs and trade policies. - **Supply Chain:** Continued supply chain disruptions and labor shortages. - **Market Conditions:** Cautious outlook due to global market uncertainties. - **Capital Allocation:** Focus on share repurchases and dividends, with $67.2 million remaining under repurchase authorization. **Liquidity & Capital Resources:** - **Debt:** $434.2 million in long-term debt, $38.5 million outstanding under revolving credit facility. - **Cash Position:** $32.7 million in cash and cash equivalents. - **Financial Covenants:** Compliance with financial covenants, with a total net leverage ratio of 2.67x. **Market Risk & Outlook:** - **Currency Risk:** Exposure to foreign currency fluctuations. - **Interest Risk:** Variable interest rates on debt. - **Outlook:** Optimistic about Aerospace and Packaging segments, cautious on Specialty Products recovery. **Stock Information:** - **Ticker:** TRS - **Exchange:** NASDAQ - **Dividend:** $0.04 per share declared for Q1 2025. **Credit Rating:** - **Moody's:** Ba3 rating for Senior Notes, Ba2 Corporate Family Rating with a negative outlook. - **S&P:** BB- rating for Senior Notes, BB corporate credit rating with a stable outlook.