TriMas Cuts FY14 EPS Forecast Below Market View - Quick Facts

(RTTNews) - TriMas Corp. (TRS), a manufacturer of engineered and applied products, announced Monday that it is lowering its full year 2014 guidance.

For the year 2014, the company now expects earnings per share to be between $1.85 and $1.95, excluding any future events that may be considered Special Items. The previous estimate was an earnings per share of between $2.15 and $2.25.

On average, nine analysts polled by Thomson Reuters expects the company to earn $2.17 per share for the year. Analysts' estimates typically exclude special ite,s.

The company estimates that 2014 sales will increase 6 percent to 7 percent as compared to 2013. Analysts expect sales to increase 7.5 percent to $1.5 billion.

Further, the company has maintained its guidance of $55 million to $65 million of Free Cash Flow in 2014.

David Wathen, TriMas President and Chief Executive Officer, said, "As previously indicated, we have faced both external market pressures and operational challenges in our Energy and Aerospace businesses to date in 2014. While we have taken actions to improve the performance in these segments, the reality is that the improvements have not taken place at the expected pace. In addition, our Cequent businesses have faced and will continue to face additional margin pressures during the back half of 2014.'

The company added, "While we do see positive trends in certain businesses, these trends are expected to be more than offset by the recent headwinds. We are taking actions to effectively address these challenges and remain positive on the longer-term prospects for EPS growth in our business."