TriMas Corporation announced its financial results for the third quarter ended September 30, 2026. The company reported net sales of $178.7 million, an increase of 7.7% compared to $166.0 million in the prior year period. This growth was driven by organic growth within TriMas Packaging and Specialty Products, as well as favorable foreign currency translation.
Operating profit for the quarter was $11.5 million, compared to an operating loss of $3.2 million in the prior year. Adjusting for Special Items, third quarter 2026 adjusted operating profit increased 47.9% to $13.6 million. The company reported income from continuing operations of $13.5 million, or $0.37 per diluted share, compared to a loss of $4.9 million, or $0.12 per diluted share, in the prior year. Adjusted diluted earnings per share from continuing operations was $0.50, an increase of 194.1% compared to $0.17 in the prior year.
TriMas reported net cash used in operating activities of continuing operations of $66.7 million for the third quarter of 2026, compared to net cash provided by operating activities of $9.3 million in the prior year. Free Cash Flow totaled $20.9 million for the quarter, compared to $4.0 million in the prior year. As of September 30, 2026, the company had $1.16 billion of cash and cash equivalents and a net leverage ratio of 1.7x.
The company returned capital to shareholders through share repurchases and dividends. During the third quarter, TriMas repurchased 233,150 shares for $9.3 million. Year-to-date through September 30, 2026, the company has repurchased 2,229,471 shares for $82.7 million, contributing to a 5.3% net reduction in shares outstanding. The company also paid a quarterly cash dividend of $0.04 per share.
TriMas also announced the sale of its Rapak flexible bag-in-box product line, a provider of packaging and dispensing solutions, which is expected to close in November 2026. The divestiture of TriMas Aerospace was completed on March 16, 2026, generating approximately $1.2 billion in net after-tax proceeds.
Regarding its outlook for full-year 2026, the company reaffirmed its adjusted diluted EPS outlook of $1.60 to $1.70. The company now expects 4% to 6% year-over-year sales growth across its combined Packaging and Specialty Products businesses and approximately 250 basis points of adjusted operating profit margin expansion year-over-year.
