---
schema_version: "secwatch.filing_event.v1"
accession: "0000099780-23-000142"
form_type: "8-K"
ticker: "TRN"
cik: "0000099780"
company_name: "TRINITY INDUSTRIES INC"
filed_at: "2023-11-02T23:59:59+00:00"
generated_at: "2026-06-09T01:39:43.327862+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000099780-23-000142
- form_type: 8-K
- ticker: TRN
- cik: 0000099780
- company_name: TRINITY INDUSTRIES INC
- filed_at: 2023-11-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/99780/000009978023000142/0000099780-23-000142-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/99780/000009978023000142/trn-20231102.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000099780-23-000142
- JSON: https://secwatch.observer/filing/0000099780-23-000142.json
- Plain text: https://secwatch.observer/filing/0000099780-23-000142.txt

## Key facts
- Earnings Releases
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/99780/000009978023000142/0000099780-23-000142-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.