NASDAQ$TRS
TriMas Corporation · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Announced fourth quarter and full year 2022 results, with net sales decreasing by 2.7% and adjusted diluted earnings per share increasing by 10.7%.
TriMas reported a decrease in net sales for the fourth quarter of 2022, but an increase in operating profit and adjusted diluted earnings per share. The company's Aerospace and Specialty Products groups saw organic growth, while TriMas Packaging experienced lower demand. TriMas provided a 2023 outlook, expecting consolidated sales to increase by 10% to 15%.
- Net sales decreased by 2.7% compared to Q4 2021, with growth in Aerospace and Specialty Products offset by lower demand in Packaging.
- Operating profit increased to $26.3 million, with adjusted operating profit at $36.3 million, due to favorable price impacts and a property divestiture.
- Net income increased to $18.8 million, or $0.45 per diluted share, with adjusted net income up 14.0% to $22.9 million.
- Adjusted diluted earnings per share increased by 10.7% to $0.62.
Headline financials
Revenue & EPS history
TriMas · Revenue · Quarterly
$203M
Revenue by segment
TriMas · $203M total across 3 segments · Q4 2022
- Packaging$106M-14.5%52.0%
- Aerospace (Discontinued)$50.8M+6.5%25.0%
- Specialty Products$46.9M+24.2%23.1%
Forward guidance
The Company expects TriMas' 2023 consolidated sales to increase 10% to 15% compared to 2022. The Company expects full year 2023 adjusted diluted earnings per share to be between $2.00 to $2.20 per share. For first quarter 2023, adjusted diluted earnings per share is anticipated to be in the range of $0.24 to $0.28. In addition, the Company is targeting full year 2023 Free Cash Flow to be greater than 100% of net income.
Tailwinds
- 2023 consolidated sales are expected to increase 10% to 15% compared to 2022.
- Full year 2023 adjusted diluted earnings per share to be between $2.00 to $2.20 per share.
- First quarter 2023 adjusted diluted earnings per share is anticipated to be in the range of $0.24 to $0.28.
- Full year 2023 Free Cash Flow is targeted to be greater than 100% of net income.
- Prospects for the future are exciting.
Headwinds
- More cautious near-term outlook.
- Forecasting a demand recovery within TriMas Packaging as we move through 2023, as our customers continue to work through high inventory levels.
- Anticipate first quarter EPS to be lower than the prior year quarter.
- Forecasting sequential improvement in the second and third quarters driven by a reversion to a more normalized seasonal selling period, which did not occur in 2022.
- Inability to predict the amount and timing of the impacts of Special Items makes a detailed reconciliation of these forward-looking non-GAAP financial measures impracticable.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2022
-0.2%
Avg return
Earnings day
-0.9%
Avg return
5 days after
-0.3%
Avg return
30 days after
51%
33 / 65 earnings
Positive
+14.8%
Q3 2014
Best reaction
-29.6%
Q2 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.6% | +14.9% | +13.4% | |
| Q4 2025 | +3.1% | +4.0% | -3.2% | |
| Q3 2025 | -2.8% | -9.1% | -13.0% | |
| Q1 2025 | +12.3% | +17.9% | +26.8% | |
| Q4 2024 | -6.2% | +0.1% | +6.7% | |
| Q3 2024 | -3.3% | +1.0% | -1.7% | |
| Q2 2024 | -10.0% | -13.0% | -7.2% | |
| Q1 2024 | -3.6% | -2.0% | -0.2% | |
| Q4 2023 | -8.5% | -6.0% | +4.1% | |
| Q3 2023 | +3.6% | +5.8% | +7.3% | |
| Q2 2023 | -2.0% | -7.3% | -7.9% | |
| Q1 2023 | +0.4% | +1.7% | +1.3% | |
| Q4 2022 | -3.0% | -1.0% | -10.8% | |
| Q3 2022 | -18.1% | -14.0% | -4.9% | |
| Q2 2022 | +4.5% | +2.0% | -0.7% | |
| Q1 2022 | -3.2% | -5.1% | -5.7% | |
| Q4 2021 | -1.6% | -0.8% | -1.3% | |
| Q3 2021 | +0.2% | +2.2% | +5.7% | |
| Q2 2021 | -1.4% | -5.1% | -3.3% | |
| Q1 2021 | +1.2% | +3.5% | +3.1% | |
| Q4 2020 | -6.0% | -10.7% | -13.2% | |
| Q3 2020 | +3.0% | +10.5% | +17.2% | |
| Q2 2020 | -6.0% | -5.1% | +3.5% | |
| Q1 2020 | -10.5% | -11.5% | -8.7% | |
| Q4 2019 | -9.6% | -4.8% | -18.1% | |
| Q3 2019 | -7.4% | -5.2% | -7.4% | |
| Q2 2019 | -1.8% | -1.6% | -3.9% | |
| Q1 2019 | -4.9% | -3.9% | -11.0% | |
| Q4 2018 | +1.7% | +2.2% | -2.9% | |
| Q3 2018 | +7.4% | +7.4% | +4.6% | |
| Q2 2018 | +5.7% | +4.0% | +3.4% | |
| Q1 2018 | -0.4% | -1.1% | +4.7% | |
| Q4 2017 | +3.8% | +2.6% | +5.2% | |
| Q3 2017 | -2.0% | -4.3% | -8.1% | |
| Q2 2017 | +8.1% | +11.3% | +7.9% | |
| Q1 2017 | +5.3% | +5.3% | +0.0% | |
| Q4 2016 | -1.5% | -6.9% | -10.5% | |
| Q3 2016 | +2.2% | -0.6% | +21.2% | |
| Q2 2016 | -10.7% | -12.5% | -5.7% | |
| Q1 2016 | -1.8% | — | — | |
| Q4 2015 | +4.2% | — | — | |
| Q3 2015 | +4.4% | — | — | |
| Q2 2015 | -29.6% | — | — | |
| Q1 2015 | -10.0% | — | — | |
| Q4 2014 | +2.1% | — | — | |
| Q3 2014 | +14.8% | — | — | |
| Q2 2014 | -5.6% | — | — | |
| Q1 2014 | +11.0% | — | — | |
| Q4 2013 | -3.1% | — | — | |
| Q3 2013 | -8.2% | — | — | |
| Q2 2013 | +8.4% | — | — | |
| Q1 2013 | +0.2% | — | — | |
| Q4 2012 | +1.7% | — | — | |
| Q3 2012 | -1.1% | — | — | |
| Q2 2012 | +13.3% | — | — | |
| Q1 2011 | -1.7% | — | — | |
| Q1 2012 | +6.6% | — | — | |
| Q4 2011 | +6.0% | — | — | |
| Q4 2009 | +6.0% | — | — | |
| Q3 2010 | +11.1% | — | — | |
| Q3 2011 | +11.1% | — | — | |
| Q4 2010 | +4.0% | — | — | |
| Q2 2010 | +4.0% | — | — | |
| Q2 2011 | +4.0% | — | — | |
| Q1 2010 | -2.4% | — | — |
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