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TriMas (TRS) Expands Life Sciences' Cleanroom Capabilities
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TriMas Corporation (TRS - Free Report) announced that its Intertech business, which is part of the TriMas Life Sciences division, expanded its cleanroom capacity at its Denver facility. This move boosts the company's position to grow in medical technology applications. By expanding its cleanroom production capabilities, TRS is meeting the growing customer demand and remaining at the forefront of stringent regulatory standards.
Intertech has added 3,400 square feet to its ISO Class 8 cleanroom molding and assembly capabilities, featuring dedicated space for molding presses and secondary operating equipment. This adds to Intertech’s existing 9,000-plus square feet of ISO Class 8 cleanroom capacity.
Furthermore, under Intertech's current ISO 13485 Medical Devices Quality Management Systems certification, TriMas has invested in further cleanroom capabilities at a second location in the Denver region.
The TriMas Life Sciences division — which includes the Intertech and Omega businesses, as well as various pharmaceutical and nutraceutical product lines — creates complicated, precision injection molded components and assemblies for Life Sciences applications.
Increased investments by TriMas in the Life Sciences end market remain a key long-term strategic enhancement. The expanded manufacturing area addresses rising customer demand for highly designed components used in medical technology applications, such as diagnostics, vascular supply and extraction.
TriMas reported a third-quarter 2023 adjusted earnings per share (EPS) of 57 cents, which beat the Zacks Consensus Estimate of earnings of 56 cents. The bottom line increased 42.5% from the prior-year quarter’s figure of 40 cents, attributed to upbeat performances at the TriMas Aerospace and TriMas Specialty Products segments.
The company's revenues increased 7.7% year over year to $235 million. Organic growth in the TriMas Specialty Products and TriMas Aerospace groups, and acquisition-related sales helped to offset the impacts of low demand for TriMas Packaging. The top line missed the Zacks Consensus Estimate of $247 million.
Price Performance
Shares of TriMas have declined 2.9% in the past year against the industry’s 21% growth.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
TriMas carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Industrial Products sector are Crane Company (CR - Free Report) , Applied Industrial Technologies (AIT - Free Report) and A. O. Smith Corporation (AOS - Free Report) .
The Zacks Consensus Estimate for Crane Company’s 2023 earnings per share is pegged at $4.18. The consensus estimate for 2023 earnings has been unchanged in the past 60 days. The company has a trailing four-quarter average earnings surprise of 29.8%. CR shares have rallied 33.7% in a year.
Applied Industrial has an average trailing four-quarter earnings surprise of 15%. The Zacks Consensus Estimate for AIT’s 2023 earnings is pinned at $9.43 per share, which indicates year-over-year growth of 7.8%. Estimates have moved up 4% in the past 60 days. The company’s shares have gained 27.2% in a year.
The Zacks Consensus Estimate for A. O. Smith’s 2023 earnings is pegged at $3.77 per share. The consensus estimate for 2023 earnings has moved 5% north in the past 60 days and suggests year-over-year growth of 20.1%. The company has a trailing four-quarter average earnings surprise of 14%. AOS shares have gained 29.4% in a year.
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TriMas (TRS) Expands Life Sciences' Cleanroom Capabilities
TriMas Corporation (TRS - Free Report) announced that its Intertech business, which is part of the TriMas Life Sciences division, expanded its cleanroom capacity at its Denver facility. This move boosts the company's position to grow in medical technology applications. By expanding its cleanroom production capabilities, TRS is meeting the growing customer demand and remaining at the forefront of stringent regulatory standards.
Intertech has added 3,400 square feet to its ISO Class 8 cleanroom molding and assembly capabilities, featuring dedicated space for molding presses and secondary operating equipment. This adds to Intertech’s existing 9,000-plus square feet of ISO Class 8 cleanroom capacity.
Furthermore, under Intertech's current ISO 13485 Medical Devices Quality Management Systems certification, TriMas has invested in further cleanroom capabilities at a second location in the Denver region.
The TriMas Life Sciences division — which includes the Intertech and Omega businesses, as well as various pharmaceutical and nutraceutical product lines — creates complicated, precision injection molded components and assemblies for Life Sciences applications.
Increased investments by TriMas in the Life Sciences end market remain a key long-term strategic enhancement. The expanded manufacturing area addresses rising customer demand for highly designed components used in medical technology applications, such as diagnostics, vascular supply and extraction.
TriMas reported a third-quarter 2023 adjusted earnings per share (EPS) of 57 cents, which beat the Zacks Consensus Estimate of earnings of 56 cents. The bottom line increased 42.5% from the prior-year quarter’s figure of 40 cents, attributed to upbeat performances at the TriMas Aerospace and TriMas Specialty Products segments.
The company's revenues increased 7.7% year over year to $235 million. Organic growth in the TriMas Specialty Products and TriMas Aerospace groups, and acquisition-related sales helped to offset the impacts of low demand for TriMas Packaging. The top line missed the Zacks Consensus Estimate of $247 million.
Price Performance
Shares of TriMas have declined 2.9% in the past year against the industry’s 21% growth.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
TriMas carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Industrial Products sector are Crane Company (CR - Free Report) , Applied Industrial Technologies (AIT - Free Report) and A. O. Smith Corporation (AOS - Free Report) .
CR currently sports a Zacks Rank #1 (Strong Buy), and AIT and AOS carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Crane Company’s 2023 earnings per share is pegged at $4.18. The consensus estimate for 2023 earnings has been unchanged in the past 60 days. The company has a trailing four-quarter average earnings surprise of 29.8%. CR shares have rallied 33.7% in a year.
Applied Industrial has an average trailing four-quarter earnings surprise of 15%. The Zacks Consensus Estimate for AIT’s 2023 earnings is pinned at $9.43 per share, which indicates year-over-year growth of 7.8%. Estimates have moved up 4% in the past 60 days. The company’s shares have gained 27.2% in a year.
The Zacks Consensus Estimate for A. O. Smith’s 2023 earnings is pegged at $3.77 per share. The consensus estimate for 2023 earnings has moved 5% north in the past 60 days and suggests year-over-year growth of 20.1%. The company has a trailing four-quarter average earnings surprise of 14%. AOS shares have gained 29.4% in a year.