TriMas Q4 Adj. Profit Declines

(RTTNews) - TriMas (TRS) reported fourth quarter net income of $7.9 million, or $0.19 per share, compared to $18.8 million, or $0.45 per share, in fourth quarter 2022. Adjusted net income was $12.3 million compared to $22.9 million in the prior year period. Adjusted earnings per share was $0.37 compared to $0.62. The company said the year-over-year decline was primarily related to the fourth quarter 2022 property divestiture gain that did not repeat in fourth quarter 2023. Analysts polled by Thomson Reuters expected the company to report profit per share of $0.53, for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter net sales were $209.6 million, an increase of 3.1% compared to $203.3 million in fourth quarter 2022. Analysts on average had estimated $246.44 million in revenue.

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