September 15, 2020 – Triton International Limited (NYSE:TRTN) today announced that Brian Sondey, Chairman and Chief Executive Officer, and John Burns, Chief Financial Officer, will participate in a virtual non-deal roadshow hosted by Keefe, Bruyette, & Woods on Wednesday September 16, 2020. Triton also posted a new investor presentation in connection with the event. The new presentation can be found in the "Investors" section of Triton's website at www.trtn.com
The new presentation includes the following market and performance highlights:
- Global containerized trade volumes have rebounded strongly in the third quarter. Container throughput now exceeds pre-pandemic levels at key export locations in China.
- Demand for leased containers has been strong throughout the third quarter. Triton has leased out most of its available new and used dry containers, and Triton's utilization was 97.1% as of September 14, 2020.
- Triton has priced $2.3 billion of new ABS debt over the last month. Most of the proceeds will be used to call existing ABS notes in accordance with their terms. Triton expects interest expense savings to exceed $25 million in the first year following the September 21, 2020 call date for the existing ABS notes.
- Triton has also provided updated financial guidance. Triton now expects its Adjusted earnings per share ("EPS") to increase 20% or more from the second to the third quarter of 2020. Triton expects Adjusted EPS to increase further from the third to the fourth quarter of 2020 as Triton benefits from a full period of higher utilization and reduced interest expense.
Triton anticipates providing further updates and details on its third quarter earnings call to be held in October 2020.
About Triton International Limited
Triton International Limited is the world's largest lessor of intermodal freight containers. With a container fleet of over 6.0 million twenty-foot equivalent units ("TEU"), Triton's global operations include acquisition, leasing, re-leasing and subsequent sale of multiple types of intermodal containers and chassis.
Website Information
We routinely post important information for investors on our website, www.trtn.com, in the "Investors" section. We may use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investors section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.
Cautionary Statement Regarding Forward-Looking Statements
Non-GAAP Financial Measures
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