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Trinity Industries, Inc. has a new institutional ownership disclosure for its common stock. American Century ETF Trust reports beneficial ownership of 4,139,781 shares, representing 5.2% of the outstanding common stock, with sole voting and sole dispositive power over these shares.
American Century Investment Management, Inc., American Century Companies, Inc., and the Stowers Institute for Medical Research each report beneficial ownership of 4,321,153 shares, representing 5.4% of the class, with sole voting and dispositive power and no shared powers. The filing explains that various investment companies and institutional accounts advised by American Century Investment Management have the right to receive dividends and sale proceeds, and that no single advised client holds more than 5% of the class. The entities agree to a joint filing reflecting this ownership and control structure.
State Street Corporation reported beneficial ownership of common stock of Trinity Industries, Inc.. State Street and its investment advisory subsidiaries beneficially own 4,123,807 shares of Trinity Industries common stock, representing 5.2% of the class.
State Street reports 0 shares with sole voting and dispositive power and 3,801,711 shares with shared voting power. It has 4,123,807 shares with shared dispositive power, held through various State Street Global Advisors entities. No other person is identified as having rights to more than 5% of the class on whose behalf State Street holds these shares.
Trinity Industries, Inc. reported Q2 2026 revenue of $485.1 million, down 4.2% year over year, and first-half 2026 revenue of $977.1 million, down 10.5%. Despite lower sales, net income attributable to Trinity rose to $98.3 million in Q2 and $122.5 million for the first half, versus $14.1 million and $36.2 million a year earlier, driven largely by a $131.6 million non‑cash gain on the divestiture of partially‑owned leasing subsidiary TRIP Holdings and higher gains on lease portfolio sales. Q2 diluted EPS was $1.20, up from $0.17.
The Railcar Leasing and Services Group saw revenues decline 7.0% in Q2, mainly from divested partnerships, while operating profit increased 89.1% on the TRIP gain, stronger lease portfolio sale margins, and higher lease rates; excluding those gains, segment margins compressed. Fleet utilization remained high at 97.3%. The Rail Products Group faced weaker fundamentals, with Q2 revenues down 11.9% and operating profit down 61.8%, reflecting lower railcar deliveries and a production interruption at the Longview, Texas facility. New railcar backlog was $1.59 billion (11,340 units), down 19.1% in dollars and 19.8% in units from a year earlier, including $28.2 million of sustainable railcar conversion backlog.
Cash generation improved, with net cash provided by operating activities from continuing operations of $172.4 million versus $141.9 million in the prior‑year period, while net fleet investment moderated to $126.0 million. Total debt declined to $5.23 billion, and Trinity reported about $1.0 billion of committed liquidity (cash, undrawn revolver, and warehouse capacity) and substantial covenant headroom. Discontinued operations tied to retained highway products obligations continued to weigh on results, with pre‑tax expenses of $7.4 million ( $5.7 million after tax) in the first half of 2026.
Trinity Industries, Inc. reported Q2 2026 revenue of $485.1 million and diluted EPS from continuing operations of $1.25, up sharply from $0.19 a year earlier, largely due to a $132 million non-cash pre-tax gain on a railcar partnership transaction with Napier Park.
The Railcar Leasing and Services segment generated $281.1 million of revenue and a 79.8% operating margin including the gain; excluding it, margin was 33.0%. Leasing metrics were strong, with lease fleet utilization of 97.3%, a Future Lease Rate Differential of 3.5%, and lease portfolio sale gains of $8.2 million on $31 million of proceeds. Last twelve months Return on Equity was 30.2% and Adjusted ROE was 32.4%.
The Rail Products segment posted $258.5 million of revenue and a 1.3% operating margin, pressured by lower deliveries, an unplanned production interruption at the Longview facility, and temporary Mexico manufacturing realignment. Trinity generated year-to-date operating cash flow from continuing operations of $172.4 million, returned $71.3 million to shareholders, held total committed liquidity of $1.0 billion, and reaffirmed 2026 EPS guidance of $2.20 to $2.40 with expected net fleet investment of $300 million to $400 million.
Biesterfeld Robert C Jr reported acquisition or exercise transactions in this Form 4 filing.
Trinity Industries director Robert C. Biesterfeld Jr. received a grant of 847 Trinity Phantom Stock Units on June 30, 2026. These units were awarded under the company’s Deferred Plan for Directors Fees at a reference price of $34.58 per unit.
Each phantom unit tracks one share of Trinity common stock on a 1-for-1 basis but will be settled in cash, not stock, after his retirement. Following this award, he holds 14,664 Trinity Phantom Stock Units in total. This is a compensation-related, non‑market transaction rather than an open‑market purchase or sale.
MACLIN TODD reported acquisition or exercise transactions in this Form 4 filing.
Trinity Industries director Todd Maclin received a grant of 1,006 Trinity Phantom Stock Units, each valued at $34.58, as part of director compensation. These awards accrue under the Trinity Industries Deferred Plan for Directors Fees and are tied 1-for-1 to Trinity common stock for value.
Following this grant, Maclin holds 26,529 phantom stock units. The units do not represent actual shares and will be settled in cash after his retirement, giving him economic exposure to the stock’s performance without current share ownership or voting rights.
ECHOLS LELDON E reported acquisition or exercise transactions in this Form 4 filing.
Trinity Industries director Leldon E. Echols received a grant of 676 Trinity Phantom Stock Units on Trinity Industries Inc. common stock. These units were awarded under the company’s Deferred Plan for Directors Fees at a reference price of $34.58 per unit.
Each phantom stock unit is credited at a 1-for-1 rate to one share of Trinity common stock, but the account will be settled in cash after Echols’ retirement rather than in actual shares. Following this compensation award, his balance in the plan totals 76,087 phantom stock units.
Trinity Industries, Inc. entered into a Third Amended and Restated Credit Agreement providing a $600.0 million unsecured revolving line of credit. The facility matures on the earlier of June 12, 2031, or April 15, 2028 if the Company’s 7.750% senior notes due 2028 are not fully repaid.
The Credit Agreement allows up to $300.0 million of additional commitments and includes up to $100.0 million in letter of credit capacity, which reduces revolver availability when used. Interest is based on SOFR, CORRA, or a U.S. base rate plus a margin tied to a leverage ratio, initially 1.50% per year.
A commitment fee of 0.175% to 0.30% per year on unused capacity is set initially at 0.20%. Certain material domestic subsidiaries guarantee the obligations, and the agreement includes customary covenants and financial ratio tests. As of June 12, 2026, no loans were outstanding under this facility, which replaces the prior 2022 credit agreement.
Lakkundi Veena M reported acquisition or exercise transactions in this Form 4 filing.
TRINITY INDUSTRIES INC director Veena M. Lakkundi received a new equity award in the form of 4,024 Trinity Stock Units. These units are restricted stock units granted at a price of $0.00 per unit under the company's Fifth Amended and Restated 2004 Stock Option and Incentive Plan.
The award represents 4,024 underlying shares of common stock and brings Lakkundi's reported holdings of these units to 4,024. The units vest at the first annual stockholders meeting following the grant date and are payable one-for-one in Trinity common stock after the director's termination of service.
Trinity Industries EVP & CFO Eric R. Marchetto reported compensation-related stock activity. He received a grant of 51,336 shares of common stock, classified as a grant, award, or other acquisition.
To cover tax obligations, 14,922 shares were disposed of at $34.30 per share through a tax-withholding transaction, not an open-market sale. After these transactions, he directly held 299,082 common shares and indirectly held 3,080 shares through a 401k Plan.