Trinity Q3 rev $821M (+65% YoY); lowers FY adj EPS guide to $1.20-$1.35 on border closure

TRINITY INDUSTRIES INC

2023-Q3 EPS reported $0.52 revenue$2,185,400,000

GAAP EPS $0.29, adjusted EPS $0.26; Q3 revenue $821M (+65% YoY).
Lease fleet utilization 98.1%, FLRD +26.6%; Leasing revenues up 14% YoY to $223M.
Deliveries of 4,325 railcars (685 below plan) due to Mexico border closure; Rail Products margin 5.2% ex-insurance.
FY 2023 adjusted EPS guidance lowered to $1.20-$1.35; three-year cumulative cash flow target reduced to $1.0-$1.2B.
YTD cash from ops $216M; adjusted free cash flow $50M after investments and dividends.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TRINITY INDUSTRIES INC updated its the three month period ended September 30, 2023 guidance (lowered).

Period: the three month period ended September 30, 2023
Guidance: lowered
Result: reported results

Exact text from the filing

The conference call, News Release, and Supplemental Materials, described below, included references to Adjusted Operating Results and Adjusted Earnings Per Share, Pre-Tax Return on Equity, Adjusted Free Cash Flow, EBITDA and Adjusted EBITDA, which are not calculations based on generally accepted accounting principles (“GAAP”).

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Source: SEC EDGAR

accession 0000099780-23-000142

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