Trinity Industri Stock Price, News & Analysis

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.

Trinity Industries, Inc. (NYSE: TRN) will release its financial results for the three and six months ending June 30, 2021, on July 22, 2021, before market opening. A conference call is scheduled for the same day at 8:30 a.m. Eastern, where the results will be discussed. Investors can listen to the call via webcast or teleconference. Trinity specializes in rail transportation products and services, providing leasing, management, manufacturing, and maintenance under its TrinityRail® platform.

Trinity Industries (NYSE: TRN) announced a major refinancing plan for its subsidiaries TRIP Rail Holdings and RIV 2013 Rail Holdings, involving over $1.2 billion in debt. The refinancing will reduce annual interest expenses by approximately $25 million to $30 million, leveraging historically low rates. Notably, Trinity will become the first North American railcar lessor to issue green bonds under its Green Financing Framework. The refinancing process is expected to close around June 15, 2021, and will also lead to a reduction in the cost of debt by 50 basis points.

Trinity Industries, Inc. (NYSE:TRN) has announced a quarterly dividend of 21 cents per share, confirming its status as a consistent dividend payer with this being the 229th consecutive dividend. The dividend is scheduled for payment on July 30, 2021, to stockholders of record as of July 15, 2021. Headquartered in Dallas, Texas, Trinity is a major player in rail transportation products and services, with operations that include railcar leasing, manufacturing, and maintenance.

Trinity Industries (NYSE: TRN) announced its participation in three virtual investor conferences in Q2 2021. The Wells Fargo Industrial Investor Conference is scheduled for May 6, featuring CEO Jean Savage and Jessica Greiner, VP of Investor Relations. The KeyBanc Industrials & Basic Materials Conference takes place on June 2, with CFO Eric Marchetto and Greiner also presenting. Lastly, the UBS Global Industrials and Transportation Conference is set for June 9, featuring Brian Madison, EVP of Services Operations, and Greiner. Such events can enhance investor relations and market presence.