The 10-second takeaway
For the quarter ended Sep. 30 (Q3), TriMas beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share dropped.
Margins dropped across the board.
TriMas reported revenue of $335.9 million. The four analysts polled by S&P Capital IQ looked for revenue of $302.4 million on the same basis. GAAP reported sales were 21% higher than the prior-year quarter's $277.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.51. The five earnings estimates compiled by S&P Capital IQ anticipated $0.48 per share. GAAP EPS of $0.47 for Q3 were 11% lower than the prior-year quarter's $0.53 per share. (The prior-year quarter included $0.04 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 26.8%, 270 basis points worse than the prior-year quarter. Operating margin was 10.9%, 200 basis points worse than the prior-year quarter. Net margin was 5.6%, 100 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $287.6 million. On the bottom line, the average EPS estimate is $0.35.
Next year's average estimate for revenue is $1.23 billion. The average EPS estimate is $1.83.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on TriMas is outperform, with an average price target of $30.00.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.