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TriMas Reports Third Quarter 2023 Results

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Thursday, October 26, 2023
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TriMas (NASDAQ: TRS) today announced financial results for the third quarter ended September 30, 2023.

Key Points: 
  • TriMas (NASDAQ: TRS) today announced financial results for the third quarter ended September 30, 2023.
  • The Company reported operating profit of $23.8 million in third quarter 2023, an increase of $2.8 million, or 13.3%, compared to $21.0 million in third quarter 2022.
  • "Our third quarter results were catalyzed by proactive cost savings initiatives within our TriMas Packaging group and intensive operational improvements within our TriMas Aerospace group, which aided our ability to achieve adjusted diluted EPS(2) growth of 42.5% and top-line growth of 7.7%, compared to third quarter 2022," said Thomas Amato, TriMas President and Chief Executive Officer.
  • The Company reported net cash provided by operating activities of $31.4 million for third quarter 2023, compared to $19.0 million in third quarter 2022.

TriMas Reports Second Quarter 2023 Results

Retrieved on: 
Thursday, July 27, 2023
Packaging, Aerospace, Manufacturing, Elminster's Ecologies Appendix I: The Battle of Bones / Hill of Lost Souls, Uncertainty, Food, Information technology, Energy Independence and Security Act of 2007, Coronavirus, Capital expenditure, GAAP, ID, Government, HVAC, Climate change, Acquisition, Nature, Annual report, ESG, EPS, Environment, Arms industry, Video game, Retail, Bank, Risk management, Masco

Increased second quarter net sales in TriMas Specialty Products and TriMas Aerospace groups by 33.7% and 26.2%, respectively, while maintaining strong order backlogs in both groups

Key Points: 
  • Increased second quarter net sales in TriMas Specialty Products and TriMas Aerospace groups by 33.7% and 26.2%, respectively, while maintaining strong order backlogs in both groups
    Achieved three sequential months of strengthening order backlogs during second quarter within TriMas Packaging group, although overall market demand recovery not yet at previously anticipated levels
    TriMas reported second quarter 2023 net sales of $233.2 million, a decrease of 1.9% compared to $237.7 million in second quarter 2022, as organic growth in the TriMas Specialty Products and TriMas Aerospace groups, and acquisition-related sales, were more than offset by lower market demand for TriMas Packaging dispenser and closure products used in personal care, food and industrial applications.
  • The Company reported operating profit of $20.1 million in second quarter 2023, compared to $29.9 million in second quarter 2022.
  • The Company reported second quarter 2023 net income of $11.0 million, or $0.26 per diluted share, compared to $19.9 million, or $0.47 per diluted share, in second quarter 2022, and $4.9 million, or $0.12 per diluted share, in first quarter 2023.
  • Adjusting for Special Items(1), second quarter 2023 adjusted net income(2) was $17.5 million, compared to $21.8 million in second quarter 2022, primarily as a result of lower operating profit in second quarter 2023.

TriMas Reports First Quarter 2023 Results

Retrieved on: 
Thursday, April 27, 2023
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TriMas (NASDAQ: TRS) today announced financial results for the first quarter ended March 31, 2023.

Key Points: 
  • TriMas (NASDAQ: TRS) today announced financial results for the first quarter ended March 31, 2023.
  • The Company reported operating profit of $10.0 million in first quarter 2023, compared to $21.9 million in first quarter 2022.
  • Adjusting for Special Items(1), first quarter 2023 adjusted net income(2) was $9.0 million, as compared to $17.6 million in first quarter 2022, primarily as a result of lower operating profit in first quarter 2023.
  • TriMas also paid a quarterly cash dividend of $0.04 per share of TriMas Corporation stock on March 9, 2023.

Technicolor Creative Studios: Progressing towards delivering its recovery plan

Retrieved on: 
Monday, April 3, 2023
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PARIS (FRANCE), April 3, 2023 – Technicolor Creative Studios (Euronext Paris: TCHCS) (the “Company”) announces today an update of the implementation of its refinancing.

Key Points: 
  • PARIS (FRANCE), April 3, 2023 – Technicolor Creative Studios (Euronext Paris: TCHCS) (the “Company”) announces today an update of the implementation of its refinancing.
  • New chapter of Technicolor Creative Studios’ Refinancing:
    Approval by a judgment of the Commercial Court of Paris dated March 29, 2023, which puts an end to the conciliation procedure opened on January 20, 2023
    Caroline Parot, Chief Executive Officer of Technicolor Creative Studios, said: “Reaching an agreement on the refinancing of Technicolor Creative Studios has been pivotal in establishing the foundations of our long-term growth.
  • I am delighted that the process is progressing well with the execution of a conciliation protocol in line with the established schedule.
  • We are extremely grateful for the confidence and support of our key creditors and shareholders, as we strive to achieve Technicolor Creative Studios’ full value potential.

TriMas Reports Fourth Quarter and Full Year 2022 Results

Retrieved on: 
Thursday, February 23, 2023
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The Company reported operating profit of $26.3 million in fourth quarter 2022 compared to $17.6 million in fourth quarter 2021.

Key Points: 
  • The Company reported operating profit of $26.3 million in fourth quarter 2022 compared to $17.6 million in fourth quarter 2021.
  • The Company reported fourth quarter 2022 net income of $18.8 million, or $0.45 per diluted share, compared to $12.8 million, or $0.30 per diluted share, in fourth quarter 2021.
  • The Company reported net cash provided by operating activities of $25.9 million for fourth quarter 2022, compared to $56.5 million in fourth quarter 2021.
  • As a result, the Company reported Free Cash Flow(4) of $14.2 million for fourth quarter 2022 compared to $43.9 million in fourth quarter 2021.