TriMas Corp: Set for 3-yr low on results miss, outlook cut

TriMas

04/11/2019 15:33

** Shares of industrial products maker  TRS.O  down 7.5% at
$30.6 in morning trade
    ** Stock set for its worst day in over 3 years, if losses
hold
    ** TRS misses Q3 profit and revenue est. - IBES data from
Refinitiv  urn:newsml:reuters.com:*:nASC0AHMO
    ** CEO Thomas Amato blames weakness in the company's North
American industrial, and oil and gas extraction markets 
    ** Second profit miss in a row; TRS has missed profit 3
times in the past 8 qtrs, with the biggest miss in Q3 at -12%
    ** TRS cuts 2019 adj. EPS outlook to between $1.75 and $1.80
from $1.85-$1.95
    ** Company said it would divest its Lamons unit, which makes
industrial sealing and fastener products, to focus on core
businesses
    ** Despite session losses, stock up 21% this year

 (Reporting by Bharath Manjesh in Bengaluru)
 ((Bharath.ManjeshR@thomsonreuters.com;  outside U.S. +91 80
6749 8400;))