Trinity Industries, Inc. (TRN) Q3 2025 Earnings Call Transcript
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 30 2025
0mins
Should l Buy TRN?
Source: SeekingAlpha
Total Revenues $454 million, down both sequentially and year-over-year due to lower external deliveries in the Rail Products Group.
Earnings Per Share (EPS) $0.38, up sequentially due to the favorable margin performance in the Rail Products Group.
Year-to-date Cash Flow from Continuing Operations $187 million.
Net Fleet Investment Year-to-date $387 million, above the full year guidance of $250 million to $350 million, implying a negative fleet investment in the fourth quarter as timing of railcar sales are heavily weighted in the fourth quarter.
Year-to-date Gains on Lease Portfolio Sales $35 million, with anticipated full year gains of $70 million to $80 million.
Capital Returned to Shareholders Year-to-date $134 million through a combination of dividends and share buybacks.
Cash Balance $66 million.
Total Liquidity $571 million.
Loan-to-Value Ratio 68.5%, remains within the target range of 60% to 70%.
Finished Goods Inventory $162 million, the majority of which is expected to deliver in the fourth quarter and convert to cash.
Leasing and Services Segment Revenue Grew year-over-year, driven by higher fleet pricing and strong utilization of 96.8%.
Renewal Rates 25.1% above expiring rates in the quarter with an 82% renewal success rate.
Future Lease Rate Differential 8.7% in the quarter, driven by higher expiring rates and some lease rate moderation on certain railcar types.
Operating Profit Margin in Rail Products 7.1%, achieved through a favorable mix of specialty railcars and improving operational efficiencies despite a lower delivery environment.
Railcar Deliveries 1,680 railcars, with 46% of deliveries going into the lease fleet.
Orders for Railcars 350 railcars in the quarter, reflecting broader market conditions.
Industry Railcar Orders 3,071 in the quarter, well below expectations in the replacement cycle.
Backlog $1.8 billion, with approximately 21% expected to deliver by year-end.
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Analyst Views on TRN
Wall Street analysts forecast TRN stock price to fall
2 Analyst Rating
0 Buy
2 Hold
0 Sell
Hold
Current: 34.580
Low
23.00
Averages
27.00
High
31.00
Current: 34.580
Low
23.00
Averages
27.00
High
31.00
About TRN
Trinity Industries, Inc. is the owner of businesses that provide rail transportation products and services in North America. The Company markets its railcar products and services under the trade name TrinityRail. Its platform also includes the brands of RSI Logistics, a provider of software and logistics solutions, and Holden America, a supplier of railcar parts and components. Its platform provides railcar leasing and management services; railcar manufacturing; railcar maintenance and modifications, and other railcar logistics products and services. Its segments include Railcar Leasing and Services Group and Rail Products Group. The Railcar Leasing and Services Group segment owns and operates a fleet of railcars and provides third-party fleet leasing, management, and administrative services; railcar maintenance and modification services; and other railcar logistics products and services. The Rail Products Group segment manufactures and sells railcars and related parts and components.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Slight Revenue Decline: Despite the impressive profit growth, the company's quarterly revenue fell by 2.9%, from $629.4 million last year to $611.2 million, reflecting challenges in the market environment and competitive pressures.
- Positive Future Outlook: The company projects earnings per share for 2026 to be between $1.85 and $2.10, demonstrating management's confidence in future performance, which may attract investor interest in its long-term growth potential.
- Financial Performance Comparison: Compared to last year, Trinity's profitability surged by 545%, not only boosting investor confidence but also providing financial support for future investments and expansions.
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- Estimate Revisions: In the last three months, EPS estimates have seen two upward revisions with no downward adjustments, while revenue estimates have had one upward revision, reflecting analysts' optimistic outlook on the company's future performance, which may positively influence stock prices.
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- Conference Call Timing: Following the earnings release, Trinity will hold a conference call at 8:00 a.m. Eastern to discuss the financial results in depth, aiming to bolster market confidence among investors.
- Webcast Access: Investors can listen to the earnings call via the company's website, indicating Trinity's efforts to enhance information dissemination through digital platforms.
- Replay Service: The conference call replay will be available on the company’s website for one year, ensuring that investors who cannot participate live can access key information, further demonstrating the company's commitment to investor service.
See More
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- Earnings Report Schedule: Trinity Industries will report its financial results for the year ending December 31, 2025, before the market opens on February 12, 2026, reflecting the company's commitment to transparency and investor confidence.
- Conference Call Timing: The company will hold a conference call at 8:00 a.m. Eastern on the same day to discuss its results, providing investors with a direct opportunity to engage with management and facilitating timely information dissemination.
- Webcast and Replay Availability: Investors can listen to the conference call via webcast on the company's website, with a replay available for one year, ensuring all investors have access to critical information and enhancing information accessibility.
- Dial-in Information: The dial-in number for the conference call is 1-888-317-6003, and participants are advised to call at least 10 minutes in advance to ensure proper connection, demonstrating the company's focus on investor experience.
See More
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- Slight Revenue Decline: Despite the impressive profit growth, the company's quarterly revenue fell by 2.9%, from $629.4 million last year to $611.2 million, reflecting challenges in the market environment and competitive pressures.
- Positive Future Outlook: The company projects earnings per share for 2026 to be between $1.85 and $2.10, demonstrating management's confidence in future performance, which may attract investor interest in its long-term growth potential.
- Financial Performance Comparison: Compared to last year, Trinity's profitability surged by 545%, not only boosting investor confidence but also providing financial support for future investments and expansions.
See More
HubSpot Reports Strong Q3 Earnings, Shares Surge 9.4%
- Earnings Beat: HubSpot reported quarterly earnings of $3.09 per share, surpassing analyst expectations of $2.99, indicating robust profitability and boosting market confidence in the company's future performance.
- Significant Revenue Growth: The quarterly revenue reached $846.75 million, exceeding the Street estimate of $830.54 million and marking a 20.4% increase from $703.17 million in the same period last year, showcasing HubSpot's competitive strength in the market.
- Stock Price Surge: Following the positive earnings report, HubSpot's shares jumped 9.4% to $228.93 on Thursday, reflecting investor optimism about the company's growth potential and likely attracting more investor interest.
- Mixed Market Performance: While U.S. stocks showed mixed results overall, HubSpot's strong performance distinguished it among many stocks, demonstrating relative resilience and appeal in a fluctuating market.
See More
Trinity Industries Q4 Earnings Beat Expectations
- Strong Earnings Report: Trinity Industries reported a Q4 GAAP EPS of $2.31, beating expectations by $0.03, indicating stable profitability; despite a 2.9% year-over-year revenue decline to $611.2 million, it exceeded market expectations by $40.75 million, reflecting the company's resilience in challenging conditions.
- Leasing Performance: The lease fleet utilization reached 97.1%, with a positive FLRD of 6.0% at quarter-end, demonstrating strong performance in the leasing market, which helps maintain stable cash flow and profitability.
- Delivery and Orders: The company delivered 2,945 railcars in the quarter with new orders totaling 1,800, indicating sustained market demand that is expected to drive revenue growth and enhance market share in the future.
- 2026 Guidance: Trinity anticipates industry deliveries of approximately 25,000 railcars, with net fleet investments between $450 million and $550 million, and operating and administrative capital expenditures projected at $55 million to $65 million, forecasting EPS between $1.85 and $2.10, reflecting confidence in future growth.
See More
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- Earnings Announcement: Trinity Industries (TRN) is set to release its Q4 2023 earnings on February 12 before market open, with a consensus EPS estimate of $2.30, reflecting a substantial year-over-year increase of 489.7%, indicating a significant improvement in profitability.
- Revenue Expectations: Despite the strong EPS outlook, the revenue estimate stands at $570.45 million, representing a 9.4% year-over-year decline, which raises concerns about sales growth and could impact investor confidence.
- Historical Performance: Over the past two years, Trinity Industries has beaten EPS estimates 63% of the time and revenue estimates 63% of the time, demonstrating the company's financial stability and adaptability in the market.
- Estimate Revisions: In the last three months, EPS estimates have seen two upward revisions with no downward adjustments, while revenue estimates have had one upward revision, reflecting analysts' optimistic outlook on the company's future performance, which may positively influence stock prices.
See More
Trinity Industries Announces Financial Results Release Date
- Earnings Release Schedule: Trinity Industries will report its financial results for the year ending December 31, 2025, before the market opens on February 12, 2026, reflecting the company's commitment to transparency and investor communication.
- Conference Call Timing: Following the earnings release, Trinity will hold a conference call at 8:00 a.m. Eastern to discuss the financial results in depth, aiming to bolster market confidence among investors.
- Webcast Access: Investors can listen to the earnings call via the company's website, indicating Trinity's efforts to enhance information dissemination through digital platforms.
- Replay Service: The conference call replay will be available on the company’s website for one year, ensuring that investors who cannot participate live can access key information, further demonstrating the company's commitment to investor service.
See More
Trinity Industries Announces Financial Results Reporting Schedule
- Earnings Report Schedule: Trinity Industries will report its financial results for the year ending December 31, 2025, before the market opens on February 12, 2026, reflecting the company's commitment to transparency and investor confidence.
- Conference Call Timing: The company will hold a conference call at 8:00 a.m. Eastern on the same day to discuss its results, providing investors with a direct opportunity to engage with management and facilitating timely information dissemination.
- Webcast and Replay Availability: Investors can listen to the conference call via webcast on the company's website, with a replay available for one year, ensuring all investors have access to critical information and enhancing information accessibility.
- Dial-in Information: The dial-in number for the conference call is 1-888-317-6003, and participants are advised to call at least 10 minutes in advance to ensure proper connection, demonstrating the company's focus on investor experience.
See More
