Textainer reports Q3 adjusted EPS $1.08 vs. $1.20 last year

“We are pleased with our third quarter results, which continue to demonstrate the resiliency of our business. For the third quarter, utilization increased to 99.1% at the end of the quarter, while lease rental income remained firm at $192 million. Adjusted net income was $45 million, or $1.08 per diluted common share. Overall market conditions have remained unchanged from last quarter, yet our contracted revenue and profitability continue to be supported by our long-term lease contracts and fixed-rate financing policy,” stated Olivier Ghesquiere, President and Chief Executive Officer. “We are incredibly excited about our recent agreement to be acquired by Stonepeak. We believe this acquisition provides a compelling value for our shareholders, while also benefiting the Textainer business and our customers,” concluded Ghesquiere.