Trinity Industries

“While market activity continues to improve, Trinity's third-quarter results were negatively impacted by labor shortages and turnover as well as supply chain disruptions, diluting the impact of margin improvement initiatives in the Rail Products Group,” President and CEO Jean Savage said during a Oct. 21 earnings announcement.

Trinity: Challenging 3Q21, Improving Railcar Market Outlook (Updated, Cowen)

While Trinity Industries’ Rail Products Group was “challenged” in third-quarter 2021, the Railcar Leasing and Management Service Group had “another quarter of strong performance, and we maintain our view that market fundamentals for railcar leasing should continue to ramp up into 2022,” President and CEO Jean Savage said on Oct. 21.

Trinity, Wafra Form Investment Partnership

Trinity Industries, Inc., and global alternative investment manager Wafra, Inc., have teamed on a new program that will invest in “diversified portfolios of leased railcars originated by Trinity Industries Leasing Company.” It will target up to $1 billion in total acquisitions over a three-year period, the companies reported.

“When looking at the potential for new railcar demand, we expect industry deliveries to be below replacement levels this year, but believe that current inquiries support improving railcar deliveries at or just above replacement levels in 2022,” Trinity Industries President and CEO Jean Savage said.

For Trinity, ‘Challenging Operating Environment’ Impacts 1Q21

While “encouraged by the improving trends for our business and the economy as a whole,” market uncertainty due to the pandemic remains a headwind, Trinity Industries President and CEO Jean Savage reported during a April 22 earnings announcement, noting “[w]e are focused on what is more within our control in optimizing our cost structure and balance sheet.”