UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-6903 (Exact name of registrant as specified in its charter) Delaware 75-0225040 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identific ...

Financial Data and Key Metrics Changes - The company reported an adjusted EPS of $1.82, representing a 32% year-over-year increase driven by higher lease rates and improved margin performance [7][28] - Adjusted ROE for the year was 14.6%, within the target range, and cash flow from operations increased by 65% to $645 million [8][34] - Full-year consolidated revenues were $3.1 billion, showing slight improvement over 2023 [27] Business Line Data and Key Metrics Changes - The leasing and services segment generated revenues of $287 million in Q4, with an operating profit of $121 million and a margin of 42% [16] - For the full year, leasing segment revenue was $1.1 billion, an increase of $102 million year-over-year [17] - The company achieved a lease fleet utilization rate of 97% and a future lease rate differential of 24.3% [18] Market Data and Key Metrics Changes - The industry delivered just under 43,000 railcars in 2024, with orders for 25,000 railcars [11] - The industry backlog stands at approximately 34,000 railcars, with Trinity's backlog comprising about 47% of the total [12] - The company expects industry deliveries to decrease to approximately 35,000 railcars in 2025, about 20% lower than 2024 [38] Company Strategy and Development Direction - The company aims to optimize returns through a less volatile operating environment and reduced cyclicality of its platform [8] - There is a focus on maintaining the utilization and returns of the lease fleet while managing production activity [42] - The company is committed to enhancing returns from its lease fleet and has plans for net lease fleet investment of $300 million to $400 million in 2025 [40] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing pressures on manufacturing due to macroeconomic forces but remains confident in the strength of the leasing business [10] - The company anticipates an acceleration in orders as policy changes become clearer, despite current uncertainties surrounding tariffs [13][24] - Management expects 2025 to be a year of continued strength for the leasing and services business [42] Other Important Information - The company returned $114 million to shareholders in 2024, including $93 million in dividends and $21 million in share repurchases [30] - The effective tax rate for the full year was 22.7% [28] Q&A Session Summary Question: Can you talk about the backlog coverage for the year? - Management expects industry deliveries for 2025 to be down about 20% and believes the second half will be better than the first half due to clarity on tariffs [47][50] Question: Have you adjusted terms of new purchase contracts due to tariff uncertainty? - Most contracts have escalation clauses to pass tariffs on, and the company is working to mitigate tariff impacts [53] Question: What is the contribution of incentive compensation to the SG&A decline? - More than half of the $40 million cost savings comes from other cost reductions, with less than half from incentive compensation [60] Question: What weighed down leasing and services margins in the quarter? - Increased maintenance costs due to compliance intervals are expected to persist into 2025 [66] Question: How do you expect Trinity's deliveries to trend relative to the industry? - Trinity expects to be in its normal range of 30% to 40% of deliveries during the same timeframe as the industry [74] Question: What is the outlook for the parts business? - The parts business has shown improvement, with strong performance in both internal and external sales [88]

Exhibit 99.3 Q4 2024 Investor Presentation February 20, 2025 – based on financial results as of December 31, 2024 Forward Looking Statements Some statements in this presentation, which are not historical facts, are "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about Trinity's estimates, expectations, beliefs, intentions or strategies for the future, and the assumptions underlying these forward-looking statements ...

Exhibit 99.1 NEWS RELEASE FOR IMMEDIATE RELEASE Trinity Industries, Inc. Announces Fourth Quarter and Full Year 2024 Results Reports full year GAAP and adjusted earnings from continuing operations of $1.81 and $1.82 per diluted share, respectively Generates full year operating cash flow of $588 million and net gains on lease portfolio sales of $57 million Lease fleet utilization of 97.0% and Future Lease Rate Differential ("FLRD") of positive 24.3% at quarter-end Delivered 17,570 railcars in the year; backl ...

One company that I have fond memories of is Trinity Industries (NYSE: TRN ). This is because it is a business that I have followed for many years. In fact, it is one of the first five companies I ever bought sharesCrude Value Insights offers you an investing service and community focused on oil and natural gas. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential.Subscribers get to use a 50+ stock model account, in-depth cash flow analyses of E& ...

It is rare for Seeking Alpha's Quant system to give any stock a Strong Buy rating. But it has had one for Trinity Industries, Inc. (NYSE: TRN ) since June 27, 2024.Robert F. Abbott has been investing his family’s accounts since 1995, and in 2010 added options, mainly covered calls and collars with long stocks. He is a freelance writer, and his projects include a website that provides information for new and intermediate-level mutual fund investors. A resident of Airdrie, Alberta, Canada, Robert has earned B ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ . Commission File Number 1-6903 TRINITY INDUSTRIES, INC. (Exact name of registrant as specified in its charter) Delaware 75-0225040 ...

Trinity Industries, Inc. (NYSE:TRN) Q3 2024 Earnings Conference Call October 31, 2024 8:00 AM ET Company Participants Leigh Anne Mann - Vice President, Investor Relations Jean Savage - President and CEO Eric Marchetto - Chief Financial Officer Conference Call Participants Bascome Majors - Susquehanna Operator Good day and welcome to the Trinity Industries Third Quarter Ended September 30, 2024 Results Conference Call. All participants will be in listen-only mode. [Operator Instructions]. Please note this ev ...

Financial Performance - Quarterly total revenues of $799 million, with a year-over-year adjusted EPS improvement of $0.17 to $0.43[2] - Operating profit increased to $122.4 million, up from $100.2 million year-over-year[5] - Revenues for the three months ended September 30, 2024, were $798.8 million, a decrease of 2.9% from $821.3 million in the same period last year[18] - Operating profit increased to $122.4 million for the three months ended September 30, 2024, compared to $100.2 million in the prior year, representing a 22.0% increase[18] - Net income attributable to Trinity Industries, Inc. was $31.4 million, up from $21.8 million, reflecting a 44.0% increase year-over-year[18] - Basic earnings per share from continuing operations rose to $0.45, compared to $0.30 in the same quarter last year, marking a 50.0% increase[18] - Operating profit for the three months ended September 30, 2023, was $100.2 million, with an adjusted profit of $96.5 million[28] - Income from continuing operations before income taxes for the nine months ended September 30, 2023, was $68.5 million, down from $62.3 million in the previous year[29] - Net income from continuing operations attributable to Trinity Industries, Inc. for the nine months ended September 30, 2023, was $51.3 million, compared to $46.7 million in the prior year[29] - Diluted income from continuing operations per common share for the three months ended September 30, 2023, was $0.29, down from $0.26 in the previous year[28] Cash Flow and Liquidity - Year-to-date operating cash flow from continuing operations totaled $384 million, with net gains on lease portfolio sales of $36 million[2] - Cash and cash equivalents increased to $222.4 million as of September 30, 2024, from $105.7 million at the end of December 2023[20] - Net cash provided by operating activities for continuing operations was $383.5 million, significantly higher than $215.8 million in the prior year[22] - Proceeds from lease portfolio sales amounted to $253.7 million, compared to $245.8 million in the same period last year[22] - The company reported a net cash increase of $97.3 million during the period, contrasting with a decrease of $27.6 million in the previous year[22] - Cash flow from operations with net gains on lease portfolio sales for the nine months ended September 30, 2024, was $419.7 million, compared to $262.2 million for the same period in 2023[36] - Total committed liquidity as of September 30, 2024, was $924 million[9] Operational Efficiency - Lease fleet utilization reached 96.6% and Future Lease Rate Differential (FLRD) was positive at 28.4%[2] - Railcar Leasing and Services segment revenues rose by 11% year-over-year, with operating profit margin improving to 39.8%[11] - Operating profit margin for the Rail Products Group improved to 8.1%, driven by enhanced labor and operational efficiencies[11] - Trinity Industries plans to continue focusing on operational efficiency and strategic investments to drive future growth[24] Orders and Backlog - Delivered 4,360 railcars in the quarter, with a backlog valued at $2.4 billion[1] - New railcar orders totaled 1,810, down from 3,200 in the previous year[11] Equity and Valuation - Total stockholders' equity as of September 30, 2023, was $1,298.5 million, an increase from $1,253.4 million in the previous year[32] - Adjusted Return on Equity for the year ending September 30, 2024, was 16.0%, up from 18.3% in the previous year[32] EBITDA - EBITDA for the three months ended September 30, 2024, was $200.9 million, compared to $177.5 million in the previous year[38] - Adjusted EBITDA for the nine months ended September 30, 2024, was $611.8 million, compared to $488.7 million in the previous year[38] Guidance - Full year EPS guidance raised to a range of $1.70 to $1.80, excluding items outside core operations[3]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |-------------------------------------------------------------------------------|-------------------------------------------| | For the transition period from _________ Commiss ...