The 10-second takeaway
For the quarter ended Dec. 31 (Q4), TriMas beat expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly. Non-GAAP earnings per share increased significantly. GAAP earnings per share dropped to a loss.
Margins contracted across the board.
TriMas tallied revenue of $301.0 million. The four analysts polled by S&P Capital IQ expected revenue of $293.8 million on the same basis. GAAP reported sales were 16% higher than the prior-year quarter's $259.7 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 $0.33. The five earnings estimates compiled by S&P Capital IQ predicted $0.33 per share. Non-GAAP EPS of $0.33 for Q4 were 32% higher than the prior-year quarter's $0.25 per share. (The prior-year quarter included $0.18 per share in earnings from discontinued operations.) GAAP EPS were -$0.36 for Q4 against $0.38 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 26.2%, 290 basis points worse than the prior-year quarter. Operating margin was 6.4%, 370 basis points worse than the prior-year quarter. Net margin was -4.6%, 970 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $324.8 million. On the bottom line, the average EPS estimate is $0.46.
Next year's average estimate for revenue is $1.35 billion. The average EPS estimate is $2.19.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on TriMas is outperform, with an average price target of $31.20.
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