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.
![“These refinancings [of TRIP Holdings and RIV 2013] are part of Trinity’s strategic initiatives to improve our returns and drive shareholder value through lowering our cost of capital, and will result in the reduction of the Company’s cost of debt by 50 basis points,” Trinity EVP and CFO Eric Marchetto said.](https://www.railwayage.com/wp-content/uploads/2021/06/Trinity-300x169.png)
Trinity Industries’ two partially owned lease subsidiaries have entered into agreements to refinance more than $1.2 billion in outstanding debt.
Trinity Industries, Inc. recently named Gregg B. Mitchell the Chief Commercial Officer of TrinityRail.
