TriMas Corp. (TRS) Reports In-Line Q2 EPS, Reduces FY Guidance

TriMas Corp. (NASDAQ: TRS) reported Q2 EPS of $0.34, in-line with the analyst estimate of $0.34. Revenue for the quarter came in at $203.3 million versus the consensus estimate of $222.52 million.

GUIDANCE:

TriMas Corp. sees FY2016 EPS of $1.22-$1.30, versus prior guidance of $1.35-$1.45 and the consensus of $1.37.

2016 Outlook

The Company is revising its full year 2016 outlook from continuing operations. The Company is now estimating that 2016 sales will decline from 4% to 7% as compared to 2015. The Company also expects full-year 2016 diluted earnings per share to be $1.22 to $1.30 per share, excluding any current or future events that may be considered Special Items, a reduction from the previous outlook of $1.35 to $1.45 per share. In addition, the Company expects 2016 Free Cash Flow (defined as Cash Flow from Operating Activities, excluding the cash impact of Special Items, less Capital Expenditures) to be between $55 million and $65 million, or approximately 100% of net income, excluding Special Items.

"While we believe we will be able to offset the majority of the impact of our lowered sales outlook through continued cost management and productivity savings," said Zalupski, "the combined impact of the reduced level of higher margin distributor sales and the more gradual improvement of fastener production within Aerospace is tempering our previously expected profitability for the back half of 2016. We have taken actions to effectively address these challenges and remain positive on the longer-term prospects for revenue and earnings growth in our businesses."

For earnings history and earnings-related data on TriMas Corp. (TRS) click here.

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