Trinity Industries(TRN) - 2025 Q1 - Quarterly Results

Financial Performance - Quarterly total revenues of $585 million, down from $809.6 million year-over-year[5] - Earnings per diluted share (EPS) of $0.29, compared to $0.33 in the same quarter last year[5] - Revenues for Q1 2025 were $585.4 million, a decrease of 27.7% compared to $809.6 million in Q1 2024[15] - Operating profit for Q1 2025 was $99.8 million, down 13.1% from $115.2 million in Q1 2024[15] - Net income attributable to Trinity Industries, Inc. for Q1 2025 was $22.1 million, a decline of 6.7% from $23.7 million in Q1 2024[15] - Net income for Q1 2025 was $27.1 million, a slight decrease from $27.4 million in Q1 2024[26] - Income from continuing operations decreased to $29.0 million in Q1 2025 from $31.7 million in Q1 2024[26] - EBITDA for Q1 2025 was $179.5 million, down from $188.2 million in Q1 2024[26] - Adjusted EBITDA for Q1 2025 was $179.5 million, compared to $187.8 million in Q1 2024[26] Cash Flow and Liquidity - Cash flow from continuing operations of $78 million, an increase from $56.5 million year-over-year[5] - Cash flow from operations with net gains on lease portfolio sales was $84.3 million in Q1 2025, compared to $58.6 million in Q1 2024, representing an increase of 43.8%[24] - Total committed liquidity of $920 million as of March 31, 2025[6] - Cash and cash equivalents decreased to $94.9 million in Q1 2025 from $228.2 million in Q1 2024[17] Operational Metrics - Lease fleet utilization at 96.8% with a Future Lease Rate Differential (FLRD) of positive 17.9%[4] - Delivered 3,060 railcars in the quarter, with a backlog value of $1.9 billion[2] - New railcar orders totaled 695, down from 1,880 in the previous year[7] - Operating profit margin for Railcar Leasing and Services Group at 36.4%[7] - Net fleet investment projected between $300 million to $400 million for the year[4] Shareholder Returns - Last twelve months (LTM) Return on Equity (ROE) of 13.0% and Adjusted ROE of 14.2%[4] - Adjusted Return on Equity for the twelve months ended March 31, 2025, was 14.2%, compared to 13.0% for the same period in 2024[22] Expenses - Interest expense decreased to $68.8 million in Q1 2025 from $72.1 million in Q1 2024[26] - Depreciation and amortization expense increased to $74.3 million in Q1 2025 from $73.4 million in Q1 2024[26] - Provision for income taxes was $7.4 million in Q1 2025, down from $11.0 million in Q1 2024[26] Capital Expenditures - Capital expenditures for the lease fleet were $120.2 million in Q1 2025, down from $147.5 million in Q1 2024[18] Share Statistics - The company reported a basic earnings per share of $0.27 for Q1 2025, compared to $0.29 for Q1 2024[15] - The weighted average number of diluted shares outstanding increased slightly to 83.8 million in Q1 2025 from 83.5 million in Q1 2024[15] Discontinued Operations - Loss from discontinued operations improved to $(1.9) million in Q1 2025 from $(4.3) million in Q1 2024[26]