TriMas reports Q3 net cash provided by operations $22M vs. $31.4M last year

The Company reported net cash provided by operating activities of $22.0 million for third quarter 2024, compared to $31.4 million in third quarter 2023, primarily driven by the year-over-year performance decline within its Specialty Products segment. As a result, the Company reported Free Cash Flow(3) of $15.4 million for third quarter 2024, compared to $25.2 million in third quarter 2023. TriMas (TRS) ended third quarter 2024 with $26.9 million of cash on hand, $210.2 million of cash and available borrowing capacity under its revolving credit facility, and a net leverage ratio of 2.8x as defined in the Company’s credit agreement. As of September 30, 2024, TriMas reported total debt of $410.0 and Net Debt of $383.0 million. The Company continues to maintain a strong balance sheet and remains committed to its capital allocation strategy of investing in its businesses, returning capital to shareholders through both share buybacks and dividends, and augmenting organic growth through programmatic bolt-on acquisitions focused on building out its packaging and aerospace platforms.