Trinity Industri Stock Price, News & Analysis

Monomoy Capital Partners has signed a definitive agreement to acquire Trinity Highway Products (THP) from Trinity Industries, Inc. (NYSE:TRN) for approximately $375 million. This acquisition is expected to enhance the operational capacity of THP, a manufacturer of highway safety products, including crash cushions and guardrails. The transaction is subject to customary closing conditions and regulatory approval. THP operates 14 manufacturing and distribution facilities across the U.S. and has a strong market presence in Europe, South America, and Asia.

Trinity Industries, Inc. (NYSE:TRN) announced a definitive agreement to sell its highway products business for $375 million in cash to Monomoy Capital Partners. The transaction aims to optimize Trinity's focus on rail-related segments. Approved by the Board of Directors, it is expected to close in Q4 2021, pending regulatory approvals. This sale allows Trinity to streamline operations and allocate proceeds towards enhancing shareholder returns, reflecting the company's commitment to meeting long-term financial goals.

Trinity Industries (NYSE: TRN) reported Q3 2021 earnings with a GAAP EPS of $0.33 and adjusted EPS of $0.29. Total revenues were $504 million, with operating cash flow of $428 million and free cash flow of $516 million. The company returned $473 million to shareholders through dividends and share repurchases. A key highlight was the $325 million railcar portfolio sale to Signal Rail Holdings. However, results were negatively impacted by labor shortages and supply chain disruptions. The lease fleet utilization remained high at 95%.

Trinity Industries, Inc. (NYSE: TRN) will announce its financial results for the three and nine months ending September 30, 2021, on October 21, 2021, prior to market open. A conference call will follow at 8:30 a.m. Eastern, available via webcast and teleconference. Trinity, based in Dallas, Texas, specializes in rail transportation products and services in North America, with operations in railcar leasing, management services, and other transportation sectors.

Trinity Industries, Inc. (NYSE:TRN) has completed its previous $250 million share repurchase program and announced a new $250 million program effective September 9, 2021, expiring December 31, 2022. CEO Jean Savage stated this reflects the company’s commitment to returning capital to shareholders, supported by its financial strength. Additionally, Trinity declared a quarterly dividend of 21 cents per share, marking its 230th consecutive dividend, payable October 29, 2021.

Trinity Industries, Inc. (NYSE:TRN) announced the appointment of Jason G. Anderson to its Board of Directors, effective immediately, following the resignation of Brandon B. Boze. Both individuals are affiliated with ValueAct Capital, with Anderson expected to bring notable experience in finance and mergers and acquisitions. Mr. Boze expressed gratitude for his tenure on the board, while the company’s chairman acknowledged Anderson's potential contributions. Anderson previously served at GTCR LLC and Bank of America Merrill Lynch.

Trinity Industries (NYSE: TRN) and Wafra Inc. announced a new railcar investment vehicle (RIV) program, aiming for up to $1 billion in acquisitions over three years. This joint venture, Signal Rail Holdings LLC, has Wafra owning 90% and TILC 10%. The initial acquisition involves 3,600 leased railcars, financed through an asset-backed securitization totaling $265 million. Executives from both companies expressed optimism about the partnership's potential for long-term investment and alignment in strategies.

Trinity Industries, Inc. (NYSE: TRN) will participate in several investor conferences during Q3 2021, including:

• Jefferies Industrials Conference: August 3, 2021, Virtual, featuring CEO Jean Savage.
• Susquehanna Energy, Industrials & Airlines Conference: August 10, 2021, Virtual, featuring CFO Eric Marchetto.
• Cowen 14th Annual Global Transportation & Sustainable Mobility Conference: September 10, 2021, Virtual, featuring CFO Eric Marchetto.

Trinity Industries reported second-quarter earnings with total revenues at $372 million, an EPS of $0.12 and adjusted EPS of $0.15. The utilization rate of the lease fleet stood at 94.3% with new railcar orders totaling 4,570. Year-to-date cash flow from operations reached $335 million, and free cash flow hit $359 million. The company repurchased approximately 10.5 million shares at a cost of $291 million. Management expressed optimism about recovery in rail markets and continued focus on cost reduction and balance sheet optimization.