TriMas Corporation (TRS - Free Report) posted adjusted earnings of 40 cents per share for second-quarter 2017, beating the Zacks Consensus Estimate of 36 cents. Earnings also improved 18% year over year. On a reported basis, including special items, TriMas’ reported earnings of 32 cents per share in the reported quarter compared with 23 cents in the prior-year quarter.
TriMas posted revenues of $213 million for the quarter, outpacing the Zacks Consensus Estimate of $206 million. Revenues also went up 4.9% year over year. Organic growth in all four segments helped counter lower sales related to the de-emphasis of less profitable geographic regions in the Energy segment as well unfavorable currency impact.
Cost and Margins
Cost of sales rose 5.3% to $154 million in the quarter from $146 million in the year-ago quarter. Gross profit increased 4% year over year to $59.4 million. Gross margin contracted 30 basis points (bps) to 27.8%.
Selling, general and administrative expenses declined 14% year over year to $33 million. Adjusted operating profit improved 18% to $30.3 million from the prior-year quarter. Adjusted operating margin expanded 160 basis points year over year to 14.2% in the quarter.
TriMas Corporation Price, Consensus and EPS Surprise