Trinity Industri Stock Price, News & Analysis

Trinity Industries (NYSE:TRN) reported strong Q2 2024 results, with GAAP and adjusted EPS of $0.67 and $0.66 respectively, a significant improvement year-over-year. Key highlights include:

- Total revenues of $841 million, up 16% year-over-year
- Lease fleet utilization of 96.9% and Future Lease Rate Differential of +28.3%
- 4,755 railcar deliveries and 2,495 new orders
- Year-to-date operating cash flow of $300 million
- LTM Return on Equity of 14.8% and Adjusted ROE of 16.8%

The company raised its full-year 2024 EPS guidance to $1.55-$1.75, reflecting strong operational performance and positive market conditions. Trinity's CEO highlighted improvements across the business, including increased revenues, strong cash flow, and progress towards financial targets.

Trinity Industries (NYSE: TRN) announced it will release its financial results for Q2 and H1 2024 on August 1, 2024, before markets open.

A conference call will follow at 8:00 a.m. Eastern to discuss the results. Investors can access the call through a webcast on Trinity's Investor Relations page or by dialing 1-888-317-6003 with participant entry number 6316195.

A replay will be available on the company’s website for one year or via phone until August 8, 2024, by dialing 1-877-344-7529 with access code 6133090.

Trinity, based in Dallas, Texas, is a leading North American provider of rail transportation products and services under the TrinityRail brand. From January 1, 2024, it reports in two segments: Railcar Leasing and Services Group and Rail Products Group.

Trinity Industries will host an Investor Day on June 25, 2024, at The Ritz-Carlton Dallas, Las Colinas. The event will feature presentations from 9:00am to 10:30am ET, followed by a Q&A session. Trinity's leadership team will discuss the company's three-year strategy focusing on operations, growth in leasing, manufacturing, maintenance, parts services, cash flow generation, and capital allocation. In-person attendance is to institutional investors, equity analysts, and invitees, but the event will be webcast live for broader access. More details are available on Trinity's Investor Relations webpage.

Trinity Industries announced the pricing of an additional $200 million of its 7.750% Senior Notes due 2028.

The offering is expected to close on June 5, 2024, subject to customary conditions. The proceeds, along with cash on hand and borrowings, will repay the company's 4.550% Senior Notes due 2024 and cover related expenses.

Sold at 102.50% of the principal amount plus accrued interest, the new notes will constitute a further issuance of the company's existing $400 million 7.750% Senior Notes due 2028, bringing the total to $600 million.

The notes are offered to qualified institutional buyers and non-U.S. persons under specific regulations and are not registered under the Securities Act of 1933.

Trinity Industries announced a $200 million offering of additional 7.750% Senior Notes due 2028. The new notes will fund the repayment of 4.550% Senior Notes due 2024 and cover associated fees and costs. The company previously issued $400 million of these notes in June 2023, and with this new issuance, it will have $600 million in total outstanding. These notes are not registered under the Securities Act of 1933, and will be offered to qualified institutional buyers and certain non-U.S. persons. This announcement does not constitute an offer to sell or solicit buys in any jurisdiction where it would be unlawful.

Trinity Industries (NYSE: TRN) has announced a quarterly dividend of 28 cents per share on its $0.01 par value common stock. This marks the 241st consecutive dividend payment by the company. The dividend is payable on July 31, 2024, to shareholders recorded by July 15, 2024.

Headquartered in Dallas, Texas, Trinity Industries operates in North America through its TrinityRail platform, which provides railcar leasing, management, manufacturing, maintenance, and other logistics services. As of January 1, 2024, Trinity Industries will report its financial results in two segments: the Railcar Leasing and Services Group and the Rail Products Group.

Trinity Industries, Inc. reported strong first-quarter results for 2024 with quarterly total company revenues of $810 million, an improvement of 26% year over year. The earnings per diluted share (EPS) and adjusted EPS were $0.33, showing a $0.26 improvement in adjusted EPS year over year. The lease fleet utilization was at 97.5% with a positive FLRD of 34.7% at quarter-end. Trinity delivered 4,695 railcars in the quarter with a backlog of $2.9 billion. The company generated operating and adjusted free cash flow of $57 million and $12 million, respectively. Trinity also provided guidance for 2024 with industry deliveries of approximately 40,000 railcars, an EPS range of $1.35 to $1.55, and net investment in the lease fleet of $300 million to $400 million.