TriMas Surges on Strong Q2 Results

Shares of Michigan-based manufacturer of commercial, industrial and consumer products, TriMas

, were seeing much strength during Monday's trading session after the company reported second quarter results that exceeded analysts' consensus expectations. TriMas reported second-quarter EPS of $0.61 versus the estimated $0.55 per share, beating by +10.9%. Revenues came in at $338.4 million versus the estimated $324.23 million, beating by +4.4%. "Our record second quarter results demonstrate we are successfully executing on our growth strategies in the midst of an uncertain global economy," said David Wathen, TriMas President and Chief Executive Officer. "We achieved sales growth of 17.5% during the second quarter, resulting from the execution of our strategic initiatives including bolt-on acquisitions, product innovation, market share gains and geographic expansion. With pressure in Europe, as well as anticipated slower global economic growth rates, we identify the bright spots where we believe we can capture growth for our businesses. We then execute swiftly and effectively on our new product and geographic expansion programs targeting these areas. In parallel, we must be cost effective to achieve compelling returns on our investments, continue to remain competitive and fund reinvestment." Monday, shares of TriMas traded over 19 percent higher, at about $22.87 per share.