TriMas (TRS) investor relations material

Executive summary

• Completed the Aerospace segment divestiture in March 2026, generating $1.2–$1.24 billion in net after-tax proceeds and strengthening the balance sheet; proceeds earmarked for growth, acquisitions, and share repurchases.

• Repurchased 4.5 million shares since the divestiture announcement, reducing shares outstanding to 36.3 million as of March 31, 2026.

• Achieved strong Q1 execution with 10.4% net sales growth, driven by organic gains in Packaging and Specialty Products and favorable currency exchange.

• Advanced operational improvements, including cost-saving initiatives, facility consolidation, and realignment, expected to yield $10 million in 2026 savings and $15 million annualized.

• Maintained focus on organic growth, core capability strengthening, and targeted acquisitions in packaging and life sciences.

Financial highlights

• Q1 2026 net sales from continuing operations rose 10.4% year-over-year to $168.3 million, with 7.3% organic growth and a 4% currency tailwind.

• Adjusted operating profit increased 32.2% to $12.7 million; adjusted EPS up 60% to $0.24, supported by operating performance and interest income.

• Net cash position of $913 million post-divestiture, with cash invested in interest-bearing accounts; ended Q1 with $1.31 billion in cash and equivalents.

• Free cash flow was negative $16 million in Q1, reflecting higher investment levels and expected to improve through the year.

• Weighted average shares outstanding reduced to 36.3–37.4 million.

Outlook and guidance

• Reaffirmed full-year 2026 sales growth guidance of 3%–6% and over 300 basis points of operating margin improvement from 2025's 5.3%.

• Full-year 2026 adjusted diluted EPS guidance set at $1.50–$1.70, a 191% increase at midpoint over 2025, assuming $9 million quarterly interest income and $20–$22 million interest expense.

• Sequential improvement in sales, earnings, and EPS expected each quarter of 2026.

• Over $10 million in cost savings expected in 2026 from realignment and cost actions.

• Guidance assumes no material impact from global conflicts or geopolitical actions.