Trinity Industries(TRN) - 2025 Q2 - Quarterly Results

Financial Performance - Quarterly earnings from continuing operations were $0.19 per diluted share, with total company revenues of $506 million[4] - Revenues for Q2 2025 were $506.2 million, a decrease of 40% compared to $841.4 million in Q2 2024[15] - Operating profit for Q2 2025 was $95.4 million, down 32.8% from $141.9 million in Q2 2024[15] - Net income attributable to Trinity Industries, Inc. for Q2 2025 was $14.1 million, a decline of 74.1% from $54.4 million in Q2 2024[15] - Basic earnings per share from continuing operations for Q2 2025 were $0.20, down 70.6% from $0.68 in Q2 2024[15] - Income from continuing operations for the six months ended June 30, 2025, was $141.9 million, a decrease from $299.7 million in the same period of 2024[25] - Adjusted net income for the last twelve months (LTM) was $109.6 million, reflecting a return on equity of 10.3%[23] - The company reported a net income of $20.0 million for the three months ended June 30, 2025, compared to $56.4 million in the same period of 2024[27] Cash Flow and Liquidity - Year-to-date operating cash flow reached $142 million, with net gains on lease portfolio sales amounting to $14 million[4] - Cash flow from operations with net gains on lease portfolio sales was $155.6 million for the six months ended June 30, 2025, compared to $324.5 million in 2024[25] - Cash and cash equivalents decreased to $147.7 million as of June 30, 2025, from $228.2 million at the end of June 2024[17] - Total committed liquidity was reported at $792 million as of June 30, 2025[6] Operational Metrics - Lease fleet utilization stood at 96.8%, with a Future Lease Rate Differential (FLRD) of positive 18.3% at quarter-end[4] - New railcar orders totaled 2,310, while 1,815 railcars were delivered during the quarter, resulting in a book-to-bill ratio of 1.3x[4] - Year-over-year segment revenue in Railcar Leasing and Services increased by 7.5%[3] - Operating profit for the Railcar Leasing and Services Group was $118.6 million, with an operating profit margin of 39.2%[7] - The Rail Products Group reported revenues of $293.5 million, with an operating profit of $8.9 million[7] Investment and Expenditures - Net fleet investment is projected to be between $250 million and $350 million for the year[4] - Capital expenditures for the lease fleet in the first half of 2025 were $295.7 million, an increase from $232.7 million in the first half of 2024[18] - The company reported a net cash used in investing activities of $242.1 million for the first half of 2025, compared to $55.9 million in the same period of 2024[18] Balance Sheet and Equity - Total assets as of June 30, 2025, were $8,810.0 million, slightly down from $8,832.2 million at the end of June 2024[17] - Total stockholders' equity as of June 30, 2025, was $1,257.8 million, down from $1,304.0 million a year earlier[23] - Average total stockholders' equity for the last twelve months was $1,280.9 million[23] Earnings and Profitability - Operating profit for Q2 2025 was $95.4 million, down 32.8% from $141.9 million in Q2 2024[15] - Adjusted EBITDA for the six months ended June 30, 2025, was $351.2 million, compared to $411.3 million in 2024[27] - EBITDA for the six months ended June 30, 2025, was $351.2 million, down from $412.1 million in the same period of 2024[27] - Interest expense for the six months ended June 30, 2025, totaled $139.3 million, slightly lower than $147.0 million in the same period of 2024[27]