![“We are introducing 2024 EPS annual guidance of $1.30 to $1.50, which reflects improving margins in both our segments [Rail Products Group and Railcar Leasing and Management Services Group],” Trinity Industries President and CEO Jean Savage said on Feb. 22.](https://www.old.railwayage.com/wp-content/uploads/2024/02/Caterpillar_E_Jean_Savage-315x168.jpg)
Trinity Industries’ closed out 2023 with revenue up 51% over 2022 and a backlog of $3.2 billion, President and CEO Jean Savage said during an Feb. 22 financial report. Rising leasing rates
Union Pacific (UP) has recognized 12 suppliers and companies with its first ever 2023 Sustainability Partner Award, honoring business partners who have demonstrated both leadership and progress toward achieving sustainability goals.
Trinity Industries’ second-quarter 2023 results “reflect a favorable operating environment and significant positive trends in our business,” President and CEO Jean Savage said during an Aug. 1 financial report. “We continue to see rising lease rates that reflect a balanced railcar fleet and railcar orders and deliveries to support replacement level demand, setting Trinity up for growth in the second half of the year.” TD Cowen weighs in.
At Trinity Industries, the Railcar Leasing and Management Services Group continues to see “lease rate improvement and strong utilization,” and the Rail Products Group “again faced labor and supply chain challenges, impacting deliveries and margins,” President and CEO Jean Savage reported during a fourth-quarter and full-year 2022 earnings announcement on Feb. 21.
Trinity Industries, Inc., on Jan. 6 reported the acquisition of Holden America, a Montreal, Quebec-based producer of multi-level vehicle securement and protection systems, gravity-outlet gates, and gate accessories for freight rail, to support its autorack manufacturing business.
Trinity Industries on Oct. 25 reported third-quarter 2022 GAAP and adjusted earnings that “show progress and improvement in our business,” according to President and CEO Jean Savage. “We continue to believe we will perform well in the coming years given our robust backlog and the favorable re-pricing environment for lease rates.”
Railinc will develop, maintain and operate RailPulse’s technology platform for monitoring railcar location, condition and health under a 10-year agreement, RailPulse reported on May 31.
For Trinity Industries’ Rail Products Group, “margins were positive, and railcar orders and deliveries were strong” in fourth-quarter 2021, President and CEO Jean Savage reported during a Feb. 17 earnings announcement. “The labor and supply chain challenges that have affected performance continued in the fourth quarter, but the company is seeing improvement as market conditions start to normalize.”
Trinity Industries has wrapped up the $375 million sale of its highway products business to Rush Hour Intermediate II LLC, which is owned by an affiliated investment fund of Monomoy Capital Partners.
Trinity Industries’ two partially owned lease subsidiaries have entered into agreements to refinance more than $1.2 billion in outstanding debt.