TriMas says 3Q profit increased 26 percent

TriMas said its profit increased to $8.3 million, or 25 cents per share, from $6.6 million, or 20 cents per share, in the same quarter a year earlier. Revenue rose 7 percent to $276.9 million from $258.7 million.

Analysts polled by Thomson Reuters forecast a profit of 23 cents per share on $264.2 million in revenue.

TriMas said packaging systems sales rose 13 percent to $58.5 million, energy products revenue grew 37 percent to $55.4 million, and industrial specialties revenue increased 16 percent to $59.3 million.

That offset lower sales of RV and trailer products, which fell 9 percent to $42 million. Also, recreational accessories revenue slipped 11 percent to $61.7 million. TriMas said the declines were due to lower demand and consumer spending.

The company cut its full-year profit forecast.

The stock lost 71 cents, or 23.7 percent, to close at $2.29. The stock has ranged from $1.73 to $14 over the past year.