Trimas Corporation · NASDAQ:TRS
Trimas — KeyBanc Industrials & Basic Materials Conference 2026
28 slides from Trimas's conference presentation, May 28, 2026
Slide 1: KeyBanc Industrials & Basic Materials Conference
KeyBanc Industrials & Basic Materials Conference May 28, 2026
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: TriMas Overview
a TriMas Overview
Slide 4: TriMas Overview
TriMas Overview A High-Quality, Scalable Precision Manufacturing Platform Who We Are: Packaging TriMas ▪ Global designer and manufacturer of high-value, precision-engineered products ▪ Innovation-driven, quality-focused platform serving diversified consumer products, life sciences and industrial end
Slide 5: The New TriMas
The New TriMas Enhanced Focus. Stronger Foundation. New Opportunity. Who We Are: ▪ Global provider of high-value dispensing, closure and life science solutions ▪ Deep technical expertise with long-standing customer partnerships ▪ Diversified end-market exposure that supports resilient demand ▪ Flexi
Slide 6: TriMas Packaging Product Overview
TriMas Packaging Product Overview High-Performance Solutions Across Diverse Markets Fragrance Pumps All Plastic Solutions Food Caps Push-Pull Caps Press-Fit Closures AVDS (Airless High-viscosity Dispensing System) Color Cosmetics Foamer Pumps Aseptic Tethered Caps Child-Resistant Caps Pull-Out Spout
Slide 7: TriMas Global Footprint
TriMas Global Footprint North America Asia Europe South America ~2,500 employees Sales by Geography Australia Europe 28 facilities U.S. Asia 12 countries Other TriMas Headquarters Manufacturing Facilities Sales Branch/Tech/Distribution Locations 7
Slide 8: A Differentiated Growth Platform
A Differentiated Growth Platform Manufacturing DNA Sustainability Leadership ▪ Deep expertise in precision injection molding and engineered ▪ Innovation-led sustainability and lightweighting solutions packaging solutions without compromising performance ▪ Proven ability to manufacture complex, high-
Slide 9: What's Next: Multiple Levers for Growth
What’s Next: Multiple Levers for Growth Revitalized Organization Focused on Driving Meaningful Shareholder Value Acquisition Growth New Product Innovation • Target strategic acquisitions aligned with high-growth, high- margin packaging and life sciences platforms • Accelerate customer-driven innovat
Slide 10: Q1 2026 Earnings
=a Q1 2026 Earnings
Slide 11: Opening Remarks
Opening Remarks Q1 2026: Executing the Plan Successfully Closed the TriMas Aerospace Divestiture on March 16, 2026 ▪ Generated approximately $1.24 billion of net after-tax cash proceeds ▪ Repaid borrowings under the revolving credit facility related to Q4 share repurchase activity ▪ Repurchased addi
Slide 12: First Quarter 2026 Results – Continuing Operations
First Quarter 2026 Results – Continuing Operations Net Sales Segment Operating Profit (in millions) Operating Profit (1) (in millions) (in millions) $168.3 Q1 2026 Results +10.4% $152.5 ▪ Strong year-over-year sales growth $20.5 +14.6% $12.7 +32.2% driven by organic volume gains and $17.9 $9.6 Organ
Slide 13: Balance Sheet & Capitalization
Balance Sheet & Capitalization Net Cash Position Provides Future Financial Flexibility ▪ Strong balance sheet following the TriMas Aerospace divestiture, with a net cash position of $913 million March 31, December 31, March 31, Key Credit Statistics 2026 2025 2025 ▪ Cash currently invested in intere
Slide 14: Segment Overview: Packaging
Segment Overview: Packaging Adjusted for Special Items Q1 2026 Q1 2025 Change Q4 2025 Net Sales $139.2 $127.6 9.1% $129.3 Operating Profit $17.7 $17.8 -0.8% $15.0 Operating Margin 12.7% 14.0% -130 b ps 11.6% (1) Adjusted EBITDA $25.5 $26.2 -2.7% $21.5 Adjusted EBITDA Margin 18.3% 20.5% -220 b ps 16.
Slide 15: Segment Overview: Specialty Products
Segment Overview: Specialty Products Adjusted for Special Items Q1 2026 Q1 2025 Change Q4 2025 Net Sales $29.1 $24.9 17.0% $26.2 Operating Profit $2.9 $0.1 n/m $1.7 Operating Margin 9.8% 0.4% 940 b ps 6.5% Adjusted EBITDA(1) $3.6 $0.9 291.3% $2.4 Adjusted EBITDA Margin 12.4% 3.7% 870 b ps 9.1% Takea
Slide 16: Forward Expectations – from Continuing Operations
Forward Expectations – from Continuing Operations As of April 30, 2026 Full Year 2026 Outlook SALES GROWTH ADJUSTED OPERATING PROFIT ADJUSTED EPS(1) 3% to 6% MARGIN $1.50 to $1.70 IMPROVEMENT (2025: $645.7M) 300+ BPS (2025: $0.55) (2025: 5.3%) Full Year 2026 Assumptions ▪ Margin expansion driven pri
Slide 17: Levers for Long-term Value Creation
Levers for Long-term Value Creation Continuous Improvement Innovation Capital Allocation Portfolio Shaping • Accelerate customer-driven • Pursue strategic, high-quality • Focus on highest-value products and • Embed Operational Excellence through Lean, Six Sigma and product innovation to address acqu
Slide 18: Q&A
Q&A
Slide 19: Appendix
= Appendix
Slide 20: Level-Setting RemainCo (Continuing Operations)
Level-Setting RemainCo (Continuing Operations) Full Year 2025 Basis ($ in millions, except per share amount) Packaging $ % of Sales Packaging 2026 Focus Areas Net Sales $535.5 • Streamline commercial and operational functions to reduce complexity and cost, unify brands, and further integrate prior a
Slide 21: Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet March 31, December 31, 2026 2025 Assets Current assets: Cash and cash equivalents $ 1,309,610 $ 30,020 Receivables, net 128,610 111,270 Inventories 117,270 108,720 Prepaid expenses and other current assets 34,450 36,380 Current assets, discontinued operations - 1
Slide 22: Consolidated Statement of Income
Consolidated Statement of Income Three months ended March 31, 2026 2025 Net sales $ 168,280 $ 152,460 Cost of sales (131,410) (119,630) Gross profit 36,870 32,830 Selling, general and administrative expenses (29,990) (30,970) Net gain on dispositions of assets 10 5,290 Operating profit 6,890 7,150 O
Slide 23: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows Three months ended March 31, 2026 2025 Cash Flows from Operating Activities: Income (loss) from continuing operations (51,760) 1,940 Income from discontinued operations 852,590 10,480 Net income 800,830 12,420 Adjustments to reconcile net income to net cash provi
Slide 24: Company and Segment Financial Information
Company and Segment Financial Information Continuing Operations Three months ended Three months ended March 31, March 31, 2026 2025 2026 2025 Packaging Adjusted operating profit, continuing operations $ 12,700 $ 9,610 Net sales $ 139,170 $ 127,570 Corporate operating expenses (adjusted) 5,120 7,120
Slide 25: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures Continuing Operations Three months ended March 31, 2026 2025 Income (loss) from continuing operations, as reported $ (51,760) $ 1,940 Special Items to consider in evaluating quality of net income from continuing operations: Business restructuring and sever
Slide 26: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures Continuing Operations Three months ended March 31, 2026 2025 As reported Special Items As adjusted As reported Special Items As adjusted Net cash provided by (used for) operating activities $ (19,050) $ 5,340 $ (13,710) $ 6,990 $ 4,390 $ 11,380 Less: Capit
Slide 27: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures Continuing Operations Three months ended Twelve months ended March 31, March 31, From Continuing Operations 2026 2025 2026 2025 Income (loss) from continuing operations, as reported $ (51,760) $ 1,940 $ 18,610 $ - Depreciation expense 8,190 7,640 32,080 39
Slide 28: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures As of April 30, 2026 Full Year 2026 GAAP to Non-GAAP EPS Outlook Reconciliation Twelve months ended December 31, 2026 Continuing Operations Low High Diluted earnings per share (GAAP) $ (0.34) $ (0.14) Pre-tax amortization of acquisition-related intangible
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