Brief: Trimas Reports Third Quarter 2019 Results

TriMas

04/11/2019 13:04

Nov 4 (Reuters) - TriMas Corp  TRS.O :
    * TRIMAS REPORTS THIRD QUARTER 2019 RESULTS
    * Q3 ADJUSTED EARNINGS PER SHARE $0.44
    * Q3 EARNINGS PER SHARE $0.42
    * Q3 SALES $236.8 MILLION VERSUS REFINITIV IBES ESTIMATE OF
$242.1
MILLION
    * Q3 EARNINGS PER SHARE ESTIMATE $0.50 -- REFINITIV IBES
DATA
    * SEES FY 2019 ADJUSTED EARNINGS PER SHARE $1.75 TO $1.80
    * INCREASED CO'S COMMON STOCK SHARE REPURCHASE AUTHORIZATION
TO
$150 MILLION
    * LOWER SALES LEVELS, MIX, INCREASED FREIGHT COSTS AND A
HIGHER
EFFECTIVE TAX RATE RESULTED IN Q3 ADJUSTED EPS OF $0.44
    * ARE UPDATING OUR FULL-YEAR 2019 ADJUSTED DILUTED EPS
GUIDANCE
RANGE TO $1.75 TO $1.80 PER SHARE
    * TRIMAS - UPDATING FY ADJUSTED EARNINGS PER SHARE GUIDANCE
AS A
RESULT OF ANTICIPATED PROLONGED LOWER END MARKET DEMAND & LESS
FAVORABLE PRODUCT MIX IN CERTAIN BUSINESSES
    * ENTERED INTO AN AGREEMENT TO DIVEST CO'S LAMONS BUSINESS

Source text for Eikon:  ID:nBw67WH7Za 
Further company coverage:  TRS.O 

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