$TRS

TRIMAS CORP

CIK:0000842633|SEC Filings

Consolidated Statement of Income - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Net sales

$ 174,580

$ 171,750

$ 342,860

$ 324,210

Cost of sales

(139,240)

(133,800)

(270,650)

(253,430)

Gross profit

35,340

37,950

72,210

70,780

Selling, general and administrative expenses

(24,500)

(30,540)

(54,490)

(61,510)

Net gain (loss) on dispositions of assets

(20)

5,270

Operating profit

10,860

7,390

17,750

14,540

Other expense, net:

Interest expense

(4,120)

(4,550)

(9,360)

(9,070)

Other income, net

11,330

^[1]

270

12,220

^[2]

230

Other income (expense), net

7,210

(4,280)

2,860

(8,840)

Income before income tax expense

18,070

3,110

20,610

5,700

Income tax expense

49,200

(700)

(5,100)

(1,350)

Income (loss) from continuing operations

67,270

2,410

15,510

4,350

Income from discontinued operations, net of tax

(53,900)

14,310

798,690

24,790

Net income

$ 13,370

$ 16,720

$ 814,200

$ 29,140

Basic earnings (loss) per share

Continuing operations

$ 1.87

$ 0.06

$ 0.42

$ 0.11

Discontinued operations

(1.50)

0.35

21.79

0.61

Net income per share

$ 0.37

$ 0.41

$ 22.21

$ 0.72

Weighted average common shares—basic

35,877,517

40,647,361

36,651,820

40,626,325

Diluted earnings (loss) per share

Continuing operations

$ 1.86

$ 0.06

$ 0.42

$ 0.11

Discontinued operations

(1.49)

0.35

21.54

0.60

Net income per share

$ 0.37

$ 0.41

$ 21.96

$ 0.71

Weighted average common shares—diluted

36,211,032

40,929,861

37,075,408

40,939,798

[1]	Includes $10.9 million of interest income on the invested cash proceeds from the sale of Aerospace.
[2]	Includes $12.9 million of interest income on the invested cash proceeds from the sale of Aerospace.

Consolidated Statement of Cash Flows Statement - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities:
Income (loss) from continuing operations	$ 15,510	$ 4,350
Income from discontinued operations, net of tax	798,690	24,790
Net income	814,200	29,140
Adjustments to reconcile income to net cash provided by operating activities, net of acquisition impact:
Net gain on dispositions of assets	(1,040,040)	(5,270)
Depreciation	19,160	19,650
Amortization of intangible assets	5,300	8,540
Amortization of debt issue costs	480	480
Deferred income taxes	2,770	3,250
Non-cash compensation expense	5,410	5,000
Provision for losses on accounts receivable	(50)	(1,140)
Increase in receivables	(48,740)	(29,700)
(Increase) decrease in inventories	(15,520)	1,300
(Increase) decrease in prepaid expenses and other assets	7,430	(1,430)
Increase in accounts payable and accrued liabilities	191,190	14,520
Other operating activities	510	(4,900)
Net cash provided by (used for) operating activities, net of acquisition impact	(57,900)	39,440
Cash Flows from Investing Activities:
Capital expenditures	(13,130)	(29,980)
Acquisition of businesses, net of cash acquired	0	(37,160)
Net proceeds from disposition of business, property and equipment	1,436,930	21,180
Net cash provided by (used for) investing activities	1,423,800	(45,960)
Cash Flows from Financing Activities:
Proceeds from borrowings on revolving credit facilities	233,000	140,950
Repayments of borrowings on revolving credit facilities	(305,730)	(118,780)
Debt financing fees	0	(1,260)
Payments to purchase common stock	(73,460)	(2,260)
Shares surrendered upon exercise and vesting of equity awards to cover taxes	(4,430)	(1,800)
Dividends paid	(2,950)	(3,280)
Other financing activities	130	160
Net cash provided by (used for) financing activities	(153,440)	13,730
Increase for the period	1,212,460	7,210
At beginning of period	30,020	23,070
At end of period	1,242,480	30,280
Supplemental disclosure of cash flow information:
Cash paid for interest	9,960	9,490
Cash paid for taxes	33,940	9,210
Non-cash property additions	$ 1,840	$ 0

Consolidated Balance Sheet Statement - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 1,242,480	$ 30,020
Receivables, net of reserves of $1.3 million as of June 30, 2026 and December 31, 2025	153,640	111,270
Inventories	116,530	108,720
Prepaid expenses and other current assets	34,510	36,380
Current assets, discontinued operations	0	176,280
Total current assets	1,547,160	462,670
Property and equipment, net	240,790	247,510
Operating lease right-of-use assets	36,470	31,800
Goodwill	296,660	300,280
Other intangibles, net	72,970	76,550
Deferred income taxes	6,880	53,670
Other assets	44,720	45,430
Non-current assets, discontinued operations	0	267,170
Total assets	2,245,650	1,485,080
Current liabilities:
Accounts payable	223,450	72,280
Accrued liabilities	52,720	59,640
Lease liabilities, current portion	8,010	4,100
Current liabilities, discontinued operations	0	47,650
Total current liabilities	284,180	183,670
Long-term debt, net	396,890	469,170
Lease liabilities	32,870	31,810
Deferred income taxes	28,440	17,710
Other long-term liabilities	60,660	65,840
Non-current liabilities, discontinued operations	0	11,290
Total liabilities	803,040	779,490
Preferred stock $0.01 par: Authorized 100,000,000 shares; Issued and outstanding: None	0	0
Common stock, $0.01 par: Authorized 400,000,000 shares; Issued and outstanding: 35,871,612 shares at June 30, 2026 and 37,630,206 shares at December 31, 2025	360	380
Paid-in capital	526,970	577,810
Retained earnings	917,040	127,410
Accumulated other comprehensive income (loss)	(1,760)	(10)
Total shareholders' equity	1,442,610	705,590
Total liabilities and shareholders' equity	$ 2,245,650	$ 1,485,080