TriMas Corporation (NASDAQ:TRS) Q4 2023 Earnings Call Transcript

Peter Ra: Hi, thank you for the questions. Just on the outlook, when you — especially for Packaging, you’re showing sort of sales growth of 5% to 9%. How much of that is volume? And then just cadence by quarter will be helpful.

Scott Mell: Yes. I mean relative to the organic growth versus acquisition-related growth, it’s around 1.5% is what we’re forecasting for the acquisition-related growth. Relative — we’re not going to provide sales guidance by quarter, but I think it’s fair to extrapolate that we believe it’s a gradual recovery. And hence, you should see more momentum as we get towards the later part of the year. So I think that’s probably pretty good guidance relative to how you want to think about Packaging sales sequentially over the course of the year.

Peter Ra: Okay. And just a follow-up, just in terms of the — just organic growth. Most of that is volume? Or is there price baked in?

Scott Mell: Well, we’re not going to get into price versus volume discussion. But I will say, given the demand environment within Packaging and more broadly, the excess capacity in most of the end markets, it’s a very challenging pricing environment. So I think you can assume that the vast majority of our organic growth is volume-driven.

Peter Ra: Okay. Thank you.

Operator: It appears there are no further questions at this time. I would now like to turn the floor back over to management for closing comments.

Thomas Amato: Thank you, and thank you for joining us on our earnings call, and we look forward to updating you again next quarter.

Operator: This concludes today’s teleconference. You may disconnect your lines at this time. Thank you for your participation.