TriMas Cuts FY24 Adjusted EPS Forecast From $1.95 - $2.15 To $1.70 - $1.90 (Est $2.03), Based On Revised Consolidated Sales Growth Of 4% - 6%
Portfolio Pulse from Benzinga Newsdesk
TriMas has revised its FY24 adjusted EPS forecast downwards from $1.95 - $2.15 to $1.70 - $1.90, citing lower than expected sales in its Specialty Products segment. The company now anticipates consolidated sales growth of 4% - 6%.
July 30, 2024 | 12:07 pm
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TriMas has lowered its FY24 adjusted EPS forecast to $1.70 - $1.90 from $1.95 - $2.15 due to lower than expected sales in its Specialty Products segment. The company now expects consolidated sales growth of 4% - 6%.
The downward revision of the EPS forecast and lower sales expectations in the Specialty Products segment are likely to negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100