Weakness in Specialty Products, High Costs Ail TriMas (TRS) [Yahoo! Finance]
TriMas Corporation (TRS)
Last trimas corporation earnings: 4/30 08:00 am
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Source: Yahoo! Finance
and Aerospace segments were offset by unexpectedly weak results in the Specialty Products segment. Higher costs also dampened its bottom line in the quarter. This situation is expected to persist in the ongoing year as well. Let's delve deeper. Pickup in Packaging Volumes Raises Hope TriMas' Packaging segment has been witnessing negative volumes since the second quarter of 2022, reflecting weak demand due to cautious customer spending. However, there has been a slight pickup in volumes in the fourth quarter of 2023 and the segment reported a 7.5% increase in sales. Sales increases in the Beauty & Personal Care and Life Sciences end markets offset the continued soft demand in closure products, primarily in Food & Beverage-related applications. Backed by the recent gradual improvement seen in some of these end markets, the company expects the packaging segment's sales to grow in the range of 5% to 9% in 2024. The segment's adjusted EBITDA margin is projected at around 21.5% to 23.
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News
- TriMas Packaging Receives Silver Award as Strategic Supplier [Yahoo! Finance]Yahoo! Finance
- TriMas Packaging Receives Silver Award as Strategic SupplierBusiness Wire
- TriMas Declares Quarterly DividendBusiness Wire
- TriMas Packaging Group to Exhibit at LUXE PACK New York and China Beauty Expo [Yahoo! Finance]Yahoo! Finance
- TriMas Packaging Group to Exhibit at LUXE PACK New York and China Beauty ExpoBusiness Wire
TRS
Earnings
- 2/29/24 - Miss
TRS
Sec Filings
- 4/11/24 - Form 4
- 3/28/24 - Form ARS
- 3/28/24 - Form DEFA14A
- TRS's page on the SEC website