Trinity Industries Reports Mixed Q2 Results

  • Trinity Industries Inc TRN reported a second-quarter revenue decline of 27% year-over-year to $371.5 million, missing the consensus of $440.62 million.
  • Adjusted EPS of $0.15 beats the estimate of $0.09.
  • The company's revenue decline is due to lower deliveries in the rail products group.
  • Rail Products Group revenue fell 35% to $261.8 million, with deliveries declining to 1,765 units.
  • Railcar Leasing and Management Services Group revenues were $185.1 million (+1.7% Y/Y), and fleet utilization was 94.3% compared to 94.7% a year ago.
  • Rail Products Group Backlog was at $1.18 billion compared to $1.34 billion a year ago. New railcar orders totaled 4,570.
  • Adjusted EBITDA increased by 4% Y/Y to $136.1 million, and margin expanded by 1,096 bps to 36.6%.
  • Adjusted operating profit margin improved by around 570 bps to 18%.
  • Net cash generated by operating activities continuing operations was $335.1 million, compared to $327.8 million a year ago. Free Cash Flow was $358.9 million.
  • The company repurchased ~10.5 million shares at the cost of $291 million during the quarter.
  • Trinity Industries had liquidity of $918 million as of June 30, 2021.
  • Price action: TRN shares are trading higher by 0.34% at $26.58 on the last check Thursday.

Posted In: BriefsEarningsNews

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.