Slide 1: First Quarter 2017 Earnings Presentation
First Quarter 2017 Earnings Presentation April 27, 2017
Slide 2: Forward-Looking Statement
Forward-Looking Statement Forward-Looking Statement 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 the Company’s business, financial condition or f
Slide 3: Agenda
Agenda 1. Quarter Highlights and Performance 2. Segment Summary 3. Outlook 4. Questions and Answers 5. Appendix Presenters Include: • Thomas Amato, President and Chief Executive Officer • Robert Zalupski, Chief Financial Officer • Sherry Lauderback, Vice President, Investor Relations 3
Slide 4: Quarter Highlights and Performance
Quarter Highlights and Performance
Slide 5: First Quarter Highlights
First Quarter Highlights • First quarter results are showing positive signs from actions taken » Operating under a redefined TriMas Business Commitment to Model Environmental, Health & Safety • Accelerated business realignment efforts to drive improved performance Talent TriMas Annual Goal Setting &
Slide 6: First Quarter Performance
First Quarter Performance (Unaudited, dollars in millions, except per share amounts) Q1 2017 Q1 2016 Variance Net Sales $199.8 $202.9 (1.5%) Operating Profit $15.7 $16.5 (4.3%) Excluding Special Items, Operating Profit would have b een: $23.9 $21.8 9.2% Excluding Special Items, Operating Profit marg
Slide 7: First Quarter Performance
First Quarter Performance (Unaudited, dollars in millions) Q1 2017 Q1 2016 Variance Q4 2016 Variance (1) Free Cash Flow $17.7 ($5.9) $23.6 $33.2 ($15.5) Capital Expenditures $10.7 $6.0 $4.8 $8.9 $1.8 Inventories $159.0 $167.3 ($8.3) $160.5 ($1.5) Total Debt $366.9 $437.9 ($71.0) $374.7 ($7.8) Cash $
Slide 8: Segment Summary
Ss TriMias Segment Summary
Slide 9: Packaging Segment
Packaging Segment (Unaudited, dollars in millions) Financial Summary Q1 2017 Q1 2016 Variance Quarterly Comments Sales $81.0 $80.1 1.1% • Sales increased 3% on a constant currency basis Operating Profit, excluding • Growth in the Industrial, Health Beauty & Home Care, $18.5 $18.3 1.1% Special Items
Slide 10: Aerospace Segment
Aerospace Segment (Unaudited, dollars in millions) Financial Summary Q1 2017 Q1 2016 Variance Quarterly Comments Sales $45.4 $40.5 12.1% • Increased sales due to improved production output and solid customer demand Operating Profit, excluding $5.0 $3.5 41.6% Special Items • Operating profit and rela
Slide 11: Energy Segment
Energy Segment (Unaudited, dollars in millions) Financial Summary Q1 2017 Q1 2016 Variance Quarterly Comments Sales $40.9 $44.8 -8.5% • Sales decreased due to de-emphasizing underperforming regions and reduced demand in oil and gas end markets Operating Profit, excluding Special Items $2.5 $1.1 133.
Slide 12: Engineered Components Segment
Engineered Components Segment (Unaudited, dollars in millions) Financial Summary Q1 2017 Q1 2016 Variance Quarterly Comments Sales $32.5 $37.5 -13.3% • Sales declined due to continued soft industrial end markets, customer consolidations, and reduced oil and Operating Profit, excluding natural gas we
Slide 13: Segment Performance Summary
Segment Performance Summary (Unaudited, dollars in millions) Segment Operating Profit Margin Net Sales (excluding Special Items) $203 $200 -1.5% $31 +8.3% $29 14.1% 15.5% Q1 2016 Q1 2017 Q1 2016 Q1 2017 Note: Please see the detailed reconciliation to GAAP results in the Appendix. Improvements driven
Slide 14: Outlook
Ss TriMias
Slide 15: FY 2017 Outlook
FY 2017 Outlook Full Year Outlook (as of 4/27/17) Sales Growth 2% – 4% Earnings Per Share, diluted $1.35 – $1.45 Free Cash Flow(1) > 100% of net income Note: All of the figures on this slide exclude any current and future Special Items. (1) Free Cash Flow is defined as Net Cash Provided by/Used for
Slide 16: Closing Comments
Closing Comments Commitment to 1. Re-invest in our businesses Environmental, Health & Safety Cash Priorities 2. Reduce net debt with a long-term Performance TriMas Drive Toward Annual Goal target leverage ratio of <2.0x Talent Business Setting & Exceptional Development Measurement Model Cash (TBM) G
Slide 17: Questions and Answers
Ss TriMias Questions and Answers
Slide 18: Appendix
Ss TriMias
Slide 19: Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet (Dollars in thousands) March 31, December 31, 2017 2016 (unaudited) Assets Current assets: Cash and cash equivalents............................................... $ 22,640 $ 20,710 Receivables, net.............................................................. 11
Slide 20: Consolidated Income Statement
Consolidated Income Statement (Unaudited, dollars in thousands, except for per share amounts) Three months ended March 31, 2017 2016 Net sales......................................................................................... $ 199,830 $ 202,880 Cost of sales...................................
Slide 21: Consolidated Statement of Cash Flow
Consolidated Statement of Cash Flow (Unaudited, dollars in thousands) Three months ended March 31, 2017 2016 Cash Flows from Operating Activities: Net income..................................................................................................................... $ 6,990 $ 8,300 Adjustmen
Slide 22: Company & Segment Financial Information
Company & Segment Financial Information (Unaudited, dollars in thousands) Three months ended March 31, 2017 2016 Packaging Net sales................................................................................................... $ 80,960 $ 80,110 Operating profit..................................
Slide 23: Additional Information Regarding Special Items
Additional Information Regarding Special Items (Unaudited, dollars in thousands, except for per share amounts) Three months ended March 31, 2017 2016 Net income, as reported......................................................................................................... $ 6,990 $ 8,300 After
Slide 24: Additional Information Regarding Special Items
Additional Information Regarding Special Items (Unaudited, dollars in thousands) Three months ended March 31, 2017 2016 Excluding Excluding As reported Special Items Special Items As reported Special Items Special Items Net cash provided by (used for) operating activities.................. $ 21,970
Slide 25: LTM Bank EBITDA and Ratios
LTM Bank EBITDA and Ratios (Unaudited, dollars in thousands) March 31, December 31, 2017 2016 Net loss for the twelve months ended……………………………................... $ (41,110) $ (39,800) Interest expense.................................................................................. 13,830 13,720 Depr