Trinity Industries reports Q1 cont-op EPS 29c vs. 33c last year

Reports Q1 revenue $585M vs. $809.6M last year. “Trinity’s Q1 results reflect the strength and resilience of our platform,” said CEO Jean Savage. “Despite facing external challenges, we are achieving Adjusted ROE in our targeted range and generating favorable cash flow. In our Railcar Leasing and Services segment, our fleet of 144,000 owned and managed railcars have robust demand reflected in strong renewal rates. Year-over-year improvement in the segment reflects this trend. Market dynamics are favorable, with a fleet utilization of 96.8% and an FLRD of 17.9%. In the Rail Products Group, strong inquiries indicate pent-up demand. Although customers are taking longer to make ordering decisions, which will impact short-term performance, we remain confident in the long-term fundamentals of this business. Trinity’s platform is unparalleled, and we are continuously seeking opportunities to create value. We have implemented necessary changes to our business to ensure we can generate strong returns through this cycle.”