Trimas Corporation · NASDAQ:TRS
Trimas — Q1 2025 Earnings Presentation
19 slides from Trimas's earnings presentation, Apr 29, 2025
Slide 1: First Quarter 2025 Earnings Presentation
First Quarter 2025 Earnings Presentation April 29, 2025
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements Any "forward-looking" statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, contained herein, including those relating to TriMas’ business, financial condition or future results, invol
Slide 3: Opening Remarks
Opening Remarks 2025 Off to a Great Start with Strong First Quarter Performance Consolidated sales growth of +6.4% with improvements in cash flow and earnings per share Proactively navigating dynamics emerging in global markets Aerospace Record sales quarter within the Aerospace segment, with contin
Slide 4: First Quarter 2025 Results
First Quarter 2025 Results Net Sales Adjusted EBITDA (1) Adj. Earnings Per Share(2) (in millions) (in millions) $241.7 +6.4% $227.1 $39.7 +13.5% $0.46 +24.3% $35.0 Organic: +8.2% $0.37 Acquisitions: +1.4% Dispositions: -1.6% Currency: -1.6% 15.4% 16.4% +100 bps Q1 2024 Q1 2025 Q1 2024 Q1 2025 Q1 202
Slide 5: Balance Sheet & Capitalization
Balance Sheet & Capitalization Low-Interest Rate Senior Notes Do Not Mature Until 2029 Continuing to manage a strong balance sheet, backed by low-interest, long-term debt with no maturities until 2029 March 31, December 31, March 31, Key Credit Statistics 2025 2024 2024 Successfully refinanced a
Slide 6: Q1 2025 Segment Overview: Packaging
Q1 2025 Segment Overview: Packaging Adjusted for Special Items Q1 2025 Q1 2024 LTM Q1 2025 Net Sales $127.6 $127.0 $512.9 Operating Profit $17.8 $18.0 $71.0 Operating Margin 14.0% 14.2% 13.8% Adjusted EBITDA(1) $26.2 $26.2 $105.6 Adjusted EBITDA Margin 20.5% 20.7% 20.6% Quarterly Takeaways Forward P
Slide 7: Q1 2025 Segment Overview: Aerospace
Q1 2025 Segment Overview: Aerospace Adjusted for Special Items Q1 2025 Q1 2024 LTM Q1 2025 Net Sales $89.2 $67.3 $316.1 Operating Profit $15.2 $7.1 $45.3 Operating Margin 17.1% 10.6% 14.3% Adjusted EBITDA(1) $19.8 $11.8 $63.3 Adjusted EBITDA Margin 22.1% 17.4% 20.0% Quarterly Takeaways Forward Persp
Slide 8: Q1 2025 Segment Overview: Specialty Products
Q1 2025 Segment Overview: Specialty Products Adjusted for Special Items Q1 2025 Q1 2024 LTM Q1 2025 Net Sales $24.9 $32.7 $110.6 Operating Profit $0.1 $2.6 $3.8 Operating Margin 0.4% 8.0% 3.5% (1) Adjusted EBITDA $0.9 $3.6 $7.7 Adjusted EBITDA Margin 3.7% 11.0% 7.0% Quarterly Takeaways Forward Persp
Slide 9: Sales and EPS Outlook
Sales and EPS Outlook Reaffirming Outlook provided on February 27, 2025 FY 2025 Outlook SALES GROWTH(1) ADJUSTED EPS(2) 4% to 6% $1.70 to $1.85 Navigating changing and uncertain tariff dynamics, while continuing to assess potential secondary demand effects that may impact end markets Strong star
Slide 10: Q&A
Q&A
Slide 11: Appendix
— Appendix
Slide 12: Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet March 31, December 31, 2025 2024 Assets Current assets: Cash and cash equivalents $ 32,710 $ 23,070 Receivables, net 183,840 164,820 Inventories 218,890 209,190 Prepaid expenses and other current assets 29,470 29,560 Total current assets 464,910 426,640 Property
Slide 13: Consolidated Statement of Income
Consolidated Statement of Income Three months ended March 31, 2025 2024 Net sales $ 241,670 $ 227,100 Cost of sales (184,640) (174,390) Gross profit 57,030 52,710 Selling, general and administrative expenses (40,540) (40,330) Net gain on dispositions of assets 5,290 60 Operating profit 21,780 12,440
Slide 14: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows Three months ended March 31, 2025 2024 Cash Flows from Operating Activities: Net income $ 12,420 $ 5,140 Adjustments to reconcile net income to net cash provided by (used for) operating activities, net of acquisition impact: Gain on dispositions of assets (5,290)
Slide 15: Company and Segment Financial Information
Company and Segment Financial Information Three months ended YOY Growth % March 31, 2025 2024 Organic Acquisitions Divestitures Fx Total Packaging Q1 2025 vs. Q1 2024 Net sales $ 127,570 $ 127,020 Consolidated TriMas 8.2% 1.4% -1.6% -1.6% 6.4% Operating profit $ 17,240 $ 17,110 Special Items to cons
Slide 16: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures Three months ended March 31, 2025 2024 Net income, as reported $ 12,420 $ 5,140 Special Items to consider in evaluating quality of net income: Business restructuring and severance costs 6,540 1,590 Purchase accounting costs 160 - M&A diligence and transact
Slide 17: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures Three months ended March 31, 2025 2024 As reported Special Items As adjusted As reported Special Items As adjusted Net cash provided by (used for) operating activities $ 9,190 $ 4,390 $ 13,580 $ (3,690) $ 2,770 $ (920) Less: Capital expenditures (12,940) -
Slide 18: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures Three months ended Twelve months ended March 31, March 31, 2025 2024 2025 2024 Net income, as reported $ 12,420 $ 5,140 $ 31,530 $ 40,590 Depreciation expense 9,640 9,980 47,780 40,630 Amortization expense 4,190 4,210 16,780 17,800 Interest expense 4,520 4
Slide 19: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures As of April 29, 2025 Full Year 2025 GAAP to Non-GAAP EPS Outlook Reconciliation Twelve months ended December 31, 2025 Low High Diluted earnings per share (GAAP) $ 1.19 $ 1.34 Pre-tax amortization of acquisition-related intangible assets(1) 0.42 0.42 Income