10-K · March 2, 2026
TriMas is executing a strategic portfolio shift by exiting its Aerospace business (purchase price ~ $1.45 billion; expected net cash proceeds ≈ $1.2 billion) to become a more focused Packaging- and Specialty…
Earnings analysis · 10-Q
TRS earnings analysis
Filed April 30, 2026 · Our reading of the company's report
The latest report
TriMas Corporation reported Q1 2026 net sales of $168.3 million, a 10.4% year-over-year increase, exceeding consensus estimates of $158.2 million. However, the company experienced a significant loss of $1.38 per diluted…
Read full summary
TriMas Corporation reported Q1 2026 net sales of $168.3 million, a 10.4% year-over-year increase, exceeding consensus estimates of $158.2 million. However, the company experienced a significant loss of $1.38 per diluted share due to a substantial non-cash tax expense linked to the divestiture of its Aerospace segment.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-1.38
What stood out
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Strong Sales Growth
Net sales rose 10.4% year-over-year to $168.3 million, surpassing estimates.
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Specialty Products Segment Growth
Specialty Products saw a 17.0% increase in sales, driven by demand for steel cylinders.
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Improved Gross Profit Margin
Gross margin improved to 21.9% from 21.5% year-over-year despite challenges.
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Interest Income Boost
$2.0 million interest income from invested cash proceeds of the Aerospace sale.
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Significant Share Repurchase
$54.5 million spent repurchasing 1,487,057 shares under a buyback program.
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Strong Liquidity Post-Divestiture
Management confirmed sufficient liquidity from the Aerospace sale for ongoing operations.
What to watch
-
Record High Tax Rate
The effective tax rate soared to 2,137.8%, significantly impacting net income.
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Ongoing Operational Losses
Income from continuing operations decreased by $53.7 million, reflecting operational challenges.
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Exposure to Market Volatility
Continued volatility in demand and input costs poses risks to profitability.
Management's outlook
Full year 2026 adjusted diluted EPS guidance set at $1.50 to $1.70.
Earlier filings 4
10-Q · July 29, 2025
TriMas reported a strong Q2 with net sales of $274,760,000 and gross profit of $69,720,000, driving margin expansion and higher operating profit. Gross margin rose to ~25.4% and diluted EPS improved to $0.41; cash…
10-Q · November 4, 2024
TriMas reported Q3 net sales of $229.36M and diluted EPS of $0.06 for the three months ended September 30, 2024. Revenue and gross profit declined versus the year-ago quarter (net sales down $5.98M to $229.36M; gross…
10-Q · July 30, 2024
TriMas reported Q2 net sales of $240.5M (vs $233.19M a year earlier), driven by strength in Consumer Products and Aerospace & Defense, while Industrial declined. Gross profit was essentially flat at $54.01M (gross…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.