Every 10-Q that Trinity Industries, Inc. (TRN) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow TRN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full TRN filings page.
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 reported Q1 2026 results with lower revenue but steady profitability. Revenue was $492.0 million, down 16.0% from Q1 2025, mainly from fewer external railcar deliveries in the Rail Products Group. Operating profit edged up to $101.1 million as higher gains on lease portfolio sales and better lease rates offset volume pressure.
Net income was $24.8 million versus $27.1 million a year ago, with diluted EPS of $0.30. The Railcar Leasing and Services Group grew operating profit 3.5%, while Rail Products profit fell 14.7% on lower shipments but improved margins. Cash from continuing operations rose to $99.6 million, and Trinity made a net fleet investment of $67.7 million.
Trinity ended the quarter with $1.1 billion of committed liquidity, including $132.6 million of cash. Subsequent to quarter-end, it issued $480.8 million of new secured railcar notes and redeemed $377.1 million of older notes, and agreed to contribute its TRIP Holdings stake, expecting a non-cash pre-tax gain of about $130 million in Q2 2026.
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.