TRS - Trimas reports Q3 earnings miss; narrows FY22 guidance below estimates

• Trimas press release ( NASDAQ: TRS ): Q3 Non-GAAP EPS of $0.40 misses by $0.21 .
• Revenue of $218.5M (-1.8% Y/Y) misses by $28.19M .
• Outlook: The company is revising its full year 2022 outlook originally provided on March 1, 2022, due to macro-economic challenges that intensified during the third quarter.
• The company is now expecting to generate full year 2022 adjusted diluted earnings per share in the range of $2.10 to $2.18, based on consolidated annual sales growth of 3% to 5% compared to 2021 vs. consensus of $2.25.
• In addition, the company now expects 2022 Free Cash Flow to be greater than 80% of net income.

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