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TriMas reports Q3 earnings; offloads its Lamons business

Nov. 04, 2019 10:15 AM ETTriMas Corporation (TRS) StockBy: Vandana Singh, SA News Editor
  • TriMas slips (NASDAQ:TRS -8.1%) as its Q3 earnings came in below expectations; updated its full year 2019 outlook, and estimates organic sales growth ~1.5% to 2.5% Y/Y, reflecting the impact of certain softer end markets and macro challenges.
  • Forecasts adjusted diluted EPS in the range of $1.75 to $1.80, from the previous range of $1.85 to $1.95.
  • TriMas also announced to divest its Lamons business to First Reserve, a private equity firm focused on energy investing, for $135M.
  • Lamons provider of industrial sealing and fastener solutions is currently part of TriMas’ Specialty Products segment, and generated ~$186M as annual sales.
  • The transaction is expected to close by Q1 2020.
  • Excluding the impact of the Lamons business, organic sales growth is expected to be up slightly compared to 2018, with adjusted diluted EPS of ~$1.40 to $1.45.
  • Previously: Trimas EPS misses by $0.06, misses on revenue (Nov. 4)

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