TriMas Corp. (TRS) Reports In-Line Q3 EPS, Beats on Revenues; FY17 EPS Guidance Below Consensus

TriMas Corp. (NASDAQ: TRS) reported Q3 EPS of $0.39, in-line with the analyst estimate of $0.39. Revenue for the quarter came in at $209.3 million versus the consensus estimate of $208.98 million.

Outlook

The Company is updating its full-year 2017 outlook provided on February 28, 2017. The Company continues to estimate that 2017 sales will increase 2% to 4% compared to 2016. The Company expects full-year 2017 diluted earnings per share to be between $1.37 to $1.43 per share, excluding any current or future events that may be considered Special Items, as compared to $1.35 to $1.45 per share previously. In addition, the Company is now targeting 2017 Free Cash Flow(2) to be greater than 125% of net income, an increase from the previous guidanceof greater than 100% of net income.

• Increased net sales by 3.5% to $209.3 million
• Increased operating profit by 58.1% to $28.1 million, while operating profit, excluding Special Items,(1) increased by 2.3% to $28.8 million
• Increased diluted EPS by 52.6% to $0.29, while diluted EPS, excluding Special Items, increased by 11.4% to $0.39
• Reduced Total Debt of $336.6 million, less cash and cash equivalents of $24.8 million, by $68.1 million compared to September 30, 2016

GUIDANCE:

TriMas Corp. sees FY2017 EPS of $1.37-$1.43, versus the consensus of $1.42.

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

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