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Mar 31, 2024
Trinity Q1 2024 Earnings Report
Trinity Industries reported first quarter results with GAAP and adjusted earnings from continuing operations of $0.33 per diluted share.
Key Takeaways
Trinity Industries announced strong first quarter 2024 results, with revenues up 26% year over year to $810 million and both GAAP and adjusted EPS at $0.33. The company saw a lease fleet utilization of 97.5% and a Future Lease Rate Differential (FLRD) of 34.7%. Driven by higher deliveries and significantly improved operational and labor efficiencies, the Rail Products Group saw revenues up 14% and operating profit up 82% year over year.
Reported quarterly GAAP and adjusted earnings from continuing operations of $0.33 per diluted share.
Lease fleet utilization of 97.5% and Future Lease Rate Differential (FLRD) of positive 34.7% at quarter-end.
Generated operating and adjusted free cash flow of $57 million and $12 million, respectively.
Delivered 4,695 railcars in the quarter with backlog of $2.9 billion at quarter-end.
Trinity
Trinity
Trinity Revenue by Segment
Revenue by Segment
Railcar Leasing and Services Revenue
CapyFin.comRail Products Revenue
CapyFin.comEliminations Revenue
CapyFin.com Forward Guidance
Trinity Industries is raising its EPS guidance to a range of $1.35 to $1.55.
Positive Outlook
- Industry deliveries of approximately 40,000 railcars
- Net investment in the lease fleet of $300 million to $400 million
- Operating and administrative capital expenditures of $50 million to $60 million
- EPS of $1.35 to $1.55
- Excludes items outside of our core business operations
Revenue & Expenses
Visualization of income flow from segment revenue to net income