Slide 1: First Quarter 2022 Earnings Presentation
First Quarter 2022 Earnings Presentation April 28, 2022
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: Advancing TriMas' Strategy
Opening Remarks TriMas Delivered First Quarter Results On Plan Advancing TriMas’ Strategy ▪ Q1 2022 performance as planned 21% TriMas ▪ Leveraged TriMas Business Model to navigate through inflationary Aerospace pressures, demand fluctuations and continued pandemic-related uncertainty 62% 17% ▪ Conti
Slide 4: First Quarter 2022 Results
First Quarter 2022 Results Adjusted for Special Items Q1 2022 Q1 2021 Net Sales $224.3 $206.7 Operating Profit $26.2 $26.6 Q1 2022 Q1 2022 Q1 2022 Operating Profit Margin 11.7% 12.9% SALES GROWTH ADJUSTED EPS ADJUSTED EBITDA Net Income $17.6 $17.4 8.5% $0.50 $42M up 2.0% up 4.6% Adjusted Earnings Pe
Slide 5: Strong Balance Sheet and Cash Flow
Strong Balance Sheet and Cash Flow Strong annual cash flow and liquidity to invest in our strategic initiatives March 31, March 31, Key Credit Statistics 2022 2021 ▪ Q1 2022 Free Cash Flow(3) as expected and reflects proactive management of Total Debt $394.0 $690.2 inventory in response to global su
Slide 6: TriMas Packaging Segment
TriMas Packaging Segment Results & Forward Perspective Adjusted for Special Items Q1 2022 Q1 2021 Net Sales $138.5 $132.1 Operating Profit $23.8 $23.6 Operating Margin 17.2% 17.9% Adjusted EBITDA(1) $31.8 $31.0 Adjusted EBITDA Margin 23.0% 23.5% Quarterly Takeaways Forward Perspective ▪ Sales increa
Slide 7: TriMas Aerospace Segment
TriMas Aerospace Segment Results & Forward Perspective Adjusted for Special Items Q1 2022 Q1 2021 Net Sales $44.5 $44.6 Operating Profit $2.4 $5.0 Operating Margin 5.4% 11.1% (1) Adjusted EBITDA $7.2 $9.5 Adjusted EBITDA Margin 16.3% 21.4% Quarterly Takeaways Forward Perspective ▪ Sales were relativ
Slide 8: TriMas Specialty Products Segment
TriMas Specialty Products Segment Results & Forward Perspective Adjusted for Special Items Q1 2022 Q1 2021 Net Sales $41.3 $30.0 Operating Profit $7.2 $4.5 Operating Margin 17.5% 15.1% (1) Adjusted EBITDA $8.3 $5.5 Adjusted EBITDA Margin 20.2% 18.3% Quarterly Takeaways Forward Perspective ▪ Sales in
Slide 9: Forward Expectations – Reaffirms Outlook
Forward Expectations – Reaffirms Outlook As of April 28, 2022 FY 2022 Outlook Continuing to Invest for our Future FREE CASH FLOW SALES GROWTH ADJUSTED EPS 8% to 11% $2.25 to $2.35 >100% of Net Income ▪ Organic sales growth expected to be augmented by acquisitions; more than overcoming TriMas Aerospa
Slide 10: TriMas' Value Drivers
TriMas’ Value Drivers Packaging M&A Augmented Market Treasury Commitment to at Our Core Growth Recoveries Actions ESG ▪ Products that help ▪ Expanding ▪ Well positioned as ▪ Proactively ▪ Operating TriMas in fight the spread of Packaging and aerospace markets managing strong a way to positively germ
Slide 11: TriMas Q&A
TriMas Q&A Packaging Aerospace & Industrials Our Vision To provide innovative products of exceptional performance and value through market-leading brands. Strong Brand Names Diverse End Markets Innovative Product Solutions 11
Slide 12: Questions & Answers
___ Questions & Answers TriMas
Slide 13: Appendix
___ Appendix TriMas
Slide 14: Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet March 31, December 31, 2022 2021 (unaudited) Assets Current assets: Cash and cash equivalents $ 58,820 $ 140,740 Receivables, net 150,500 125,630 Inventories 158,360 152,450 Prepaid expenses and other current assets 16,290 12,950 Total current assets 383,970 431,
Slide 15: Consolidated Statement of Operations
Consolidated Statement of Operations Three months ended March 31, 2022 2021 (unaudited) Net sales $ 224,310 $ 206,730 Cost of sales (170,600) (155,400) Gross profit 53,710 51,330 Selling, general and administrative expenses (31,780) (30,220) Operating profit 21,930 21,110 Other expense, net: Interes
Slide 16: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows Three months ended March 31, 2022 2021 Cash Flows from Operating Activities: Net income $ 14,170 $ 13,060 Adjustments to reconcile net income to net cash provided by operating activities, net of acquisition impact: Loss on dispositions of assets 20 20 Depreciatio
Slide 17: Company and Segment Financial Information
Company and Segment Financial Information Three months ended YOY Growth % March 31, Organic Acquisitions Fx Total 2022 2021 Q1 2022 vs. Q1 2021 Packaging Consolidated TriMas 5.3% 4.3% -1.1% 8.5% Net sales $ 138,490 $ 132,090 Packaging 0.8% 5.8% -1.8% 4.8% Operating profit $ 21,330 $ 21,300 Special I
Slide 18: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures Three months ended March 31, 2022 2021 Net income, as reported $ 14,170 $ 13,060 Special Items to consider in evaluating quality of net income: Business restructuring and severance costs 2,820 4,210 M&A diligence and transaction costs 910 490 Purchase acco
Slide 19: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures Three months ended March 31, 2022 2021 As reported Special Items As adjusted As reported Special Items As adjusted Net cash provided by operating activities $ 5,670 $ 4,310 $ 9,980 $ 15,740 $ 3,920 $ 19,660 Less: Capital expenditures (11,890) - (11,890) (9
Slide 20: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures Three months ended Twelve months ended March 31, March 31, 2022 2021 2022 2021 Net income (loss), as reported $ 14,170 $ 13,060 $ 58,420 $ (79,820) Depreciation expense 8,470 7,850 32,510 30,210 Amortization expense 5,290 5,390 21,460 21,290 Interest expen
Slide 21: Additional Information on Non-GAAP Measures
Addition Information on Non-GAAP Measures As of April 28, 2022 Full Year 2021 GAAP to Non-GAAP EPS Outlook Reconciliation Twelve months ended Three months ended March 31 December 31, 2022 Low High Diluted earnings per share (GAAP) $ 1.82 $ 1.92 Pre-tax amortization of acquisition-related intangible
Slide 22: Fiscal Year 2022 Outlook – Additional Assumptions
Fiscal Year 2022 Outlook – Additional Assumptions As of April 28, 2022 FY 2022 Full Company Outlook FY 2022 Outlook by Segment Aerospace Stocking TriMas Packaging Core and Orders Acquisition Sales Growth 11% to 14% Growth Tax Rate Operating Profit Margin % 18.5% to 19.5% TriMas Aerospace 2021 2022 S