Welcome to our dedicated page for Trinity Industri SEC filings (Ticker: TRN), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Trinity Industries, Inc. (TRN) SEC filings page on Stock Titan provides access to the company’s regulatory disclosures as filed with the U.S. Securities and Exchange Commission. Trinity is a Dallas, Texas–based company whose businesses provide rail transportation products and services in North America under the TrinityRail® brand, and its filings offer detailed insight into this rail-focused platform.
Investors can review current reports on Form 8-K, where Trinity discloses material events such as quarterly earnings announcements, conference call materials, and significant transactions. Recent 8-K filings describe results for the Railcar Leasing and Services Group and Rail Products Group, non-GAAP financial measures like EBITDA and Adjusted Earnings Per Share (with reconciliations in accompanying materials), and operational metrics including lease fleet utilization, Future Lease Rate Differential (FLRD), new railcar orders and deliveries, and railcar backlog.
Filings also document material definitive agreements related to Trinity’s railcar leasing and financing structures. Examples include a Sale and Exchange Agreement involving Trinity Industries Leasing Company and Napier Park Railcar Lease Fund LLC, which changed ownership interests in entities such as Triumph Rail Holdings LLC and RIV 2013 Rail Holdings LLC and resulted in a preliminary non-cash pre-tax gain. Another 8-K describes a Note Purchase Agreement for secured green railcar notes issued by Trinity Rail Leasing 2025 LLC, backed by railcars and operating leases.
Through Stock Titan, users can access these filings as they are made available on EDGAR and use AI-powered summaries to interpret complex documents. The platform helps explain key sections of Trinity’s quarterly and annual reports, current reports, and financing agreements, and makes it easier to identify information about segment performance, capital structure, and railcar investment partnerships. Form 4 insider transaction data, when filed, can also be reviewed to understand equity activity by Trinity insiders.
Trinity Industries, Inc. reported a planned leadership transition in its Leasing and Services business. On February 13, 2026, Executive Vice President Gregory B. Mitchell notified the company of his intention to retire, effective October 15, 2026.
In connection with this transition, Mr. Mitchell stepped down from his role as Executive Vice President, Leasing and Services on February 16, 2026. The filing also includes standard cautionary language about forward-looking statements and lists technical Inline XBRL exhibit files, with no separate financial statements provided under this report.
Trinity Industries, Inc. received an amended ownership report showing that Capital International Investors beneficially owns 8,993,565 shares of Trinity common stock, representing 11.2% of the class as of the event date. Capital International Investors reports sole voting power over 8,988,375 shares and sole dispositive power over 8,993,565 shares, with no shared voting or dispositive power. The filing states these securities are held in the ordinary course of business and not for the purpose of changing or influencing control of Trinity Industries. Trinity’s total shares outstanding are cited as 80,180,523 shares believed to be outstanding, providing context for the reported ownership percentage.
Trinity Industries reported strong 2025 earnings but lower revenue, driven by major railcar portfolio moves. Full-year revenue was $2.16 billion, down from $3.08 billion, while diluted EPS from continuing operations rose to $3.14 from $1.81, helped by a $194 million non-cash gain on a railcar partnership restructuring and $91 million of gains on lease portfolio sales.
Operating cash flow from continuing operations was $367 million, with cash flow from operations including net gains on lease portfolio sales of $458 million and net lease fleet investment of $350 million. Lease fleet utilization was 97.1% and the Future Lease Rate Differential was a positive 6.0%, indicating higher renewal lease rates. Adjusted return on equity reached 24.4%, up from 14.6% in 2024.
For 2026, Trinity guides to EPS of $1.85–$2.10, industry deliveries of about 25,000 railcars, net lease fleet investment of $450–$550 million, operating and administrative capital expenditures of $55–$65 million, and Leasing and Services segment margins of 40–45%, supported by expected gains of $120–$140 million from secondary market railcar sales.
Trinity Industries, Inc. reported that its leasing subsidiary, Trinity Industries Leasing Company, entered into a Sale and Exchange Agreement with Napier Park Railcar Lease Fund LLC on December 30, 2025. TILC exchanged a 42.36% membership interest in Triumph Rail Holdings LLC for Napier Park’s 69.45% membership interest in RIV 2013 Rail Holdings LLC, resulting in TILC owning 100% of RIV 2013 and retaining a 0.2% interest in Triumph, while Napier Park now owns 99.8% of Triumph.
Following the transaction, Triumph will no longer be consolidated in Trinity’s financial statements. RIV 2013 will continue to be consolidated but without a noncontrolling interest adjustment. Trinity preliminarily expects to recognize a non-cash pre-tax gain of approximately $190 million for the quarter and year ending December 31, 2025 related to the divestiture of Triumph. The company also disclosed that it has increased its earnings guidance for fiscal year 2025.
Trinity Industries Inc. director reports additional deferred phantom stock units. A company director reported a Form 4 transaction dated 12/31/2025 involving Trinity Phantom Stock Units under the Trinity Industries, Inc. Deferred Plan for Directors Fees. The filing shows an acquisition coded as "A" of 838 Trinity Phantom Stock Units, each economically tied on a 1-for-1 basis to one share of Trinity common stock. The units reference Trinity common stock at a price of $26.44 and have a conversion or exercise price of $0.
After this transaction, the reporting person holds 74,691 derivative securities in the form of phantom stock units, held in direct ownership. According to the plan terms, the phantom stock account will be settled in cash after the reporting person’s retirement, rather than in actual shares.
Trinity Industries director Robert C. Biesterfeld Jr. reported an equity-related transaction involving derivative securities linked to the company’s common stock. On 12/31/2025, he acquired 1,079 Trinity Phantom Stock Units at a conversion rate of one unit for one share of Trinity common stock, under the Trinity Industries, Inc. Deferred Plan for Directors Fees. The units track the value of Trinity common stock, which is shown at $26.44 per share for this transaction, but will be settled in cash after his retirement rather than in actual shares. Following this transaction, he beneficially owned 12,915 derivative securities in the form of these phantom stock units, held as a direct interest.
Trinity Industries director reports additional deferred equity units
Todd Maclin, a director of Trinity Industries, Inc., reported an acquisition of 1,280 Trinity Phantom Stock Units on 12/31/2025 under the company’s Deferred Plan for Directors Fees. Each phantom stock unit is linked to one share of Trinity common stock on a 1-for-1 basis. Following this transaction, Maclin beneficially owns 24,453 Trinity Phantom Stock Units in direct form. The filing notes that the account tied to these units will be settled in cash after the reporting person’s retirement, rather than through delivery of company shares.
Trinity Industries (TRN) reported Q3 2025 results. Total revenues were $454.1 million versus $798.8 million a year ago, reflecting lower Manufacturing revenue of $153.3 million and steady Leasing & Services revenue of $300.8 million. Operating profit was $118.6 million compared with $122.4 million. Net income attributable to Trinity was $30.3 million, with diluted EPS of $0.37, unchanged from last year.
Leasing fundamentals remained firm: operating lease revenues were $212.6 million, up from $194.5 million, and gains on lease portfolio sales were $21.7 million. The company reported unsatisfied performance obligations in the Rail Products Group of $1,762.4 million for new railcars, with 21.3% expected to be delivered in 2025. In the Railcar Leasing and Services Group, future contractual minimum operating lease revenues totaled $2,766.2 million.
Year to date, operating cash flow from continuing operations was $187.2 million. Capital expenditures for the lease fleet were $530.3 million. Cash and cash equivalents were $66.3 million, while total debt consisted of $688.3 million recourse and $5,943.7 million non-recourse. Dividends declared were $0.30 per share for each period in 2025. Shares outstanding were 80,180,523 as of October 23, 2025.
Trinity Industries (TRN) furnished an update on its financial results under Item 2.02 and Item 7.01. The company provided its News Release announcing operating results for the three-month period ended September 30, 2025, conference call scripts, and Q3 2025 presentation materials as Exhibits 99.1, 99.2, and 99.3. Trinity also held a conference call and webcast on October 30, 2025.
The materials reference non-GAAP measures such as Adjusted Operating Results, Adjusted EPS, Adjusted ROE, Cash Flow from Operations with Net Gains on Lease Portfolio Sales, EBITDA, and Adjusted EBITDA, with reconciliations included in the News Release and/or Presentation Materials. These items are furnished, not filed, and are not incorporated into Securities Act registration statements. The release includes customary forward-looking statements and related risk disclaimers.
Trinity Industries (TRN) reported that subsidiaries Trinity Industries Leasing Company and Trinity Rail Leasing 2025 LLC entered a Note Purchase Agreement for an asset-backed securitization of railcar leases. The agreement provides for the issuance and sale of $498,580,000 Series 2025-1 Class A Secured Green Standard Railcar Notes at a fixed 5.09% rate and $36,660,000 Series 2025-1 Class B Notes at a fixed 5.30% rate, both payable monthly and with a stated final maturity of October 19, 2055.
The Notes are expected to be resold to qualified institutional buyers under Rule 144A and to certain offshore investors under Regulation S. They will be secured by approximately 7,821 railcars and related operating leases that TRL-2025 is purchasing from affiliated entities. Closing is part of a securitization scheduled on or about October 28, 2025, subject to customary conditions; there is no assurance the transaction will close on that date or at all.