Trinity Industries, Inc. (TRN - Free Report) shares gained 3.4% since its second-quarter 2023 earnings release on Aug 1. TRN’s second-quarter earnings per share (EPS) of 23 cents missed the Zacks Consensus Estimate of 33 cents but improved 64.3% year over year on the back of improved operating results, partially offset by higher interest expense.
Total revenues of $722.4 million outpaced the Zacks Consensus Estimate of $613.9 million and grew 73.3% year over year. The top line was aided by a higher volume of external deliveries in the Rail Products Group.
The Railcar Leasing and Management Services Group generated revenues of $223.2 million, up 14.3% year over year. Segmental revenues were boosted by higher utilization and improved lease rates.
Revenues in the Rail Products Group (before eliminations) totaled $709 million, up 64.6% year over year. The uptick was backed by higher delivery volumes, partially offset by the mix of railcars sold. Segmental operating profit was $23.7 million compared with $13.7 million in the year-ago period. The operating profit margin grew to 3.3% from 3.2% in the year-ago reported quarter.
Trinity exited the second quarter with cash and cash equivalents of $91.7 million compared with $81.9 million as of Mar 31, 2023. Debt totaled $5,832.6 million as of Jun 30, 2023, compared with $5,707.6 million at the prior-quarter end.
During the reported quarter, TRN generated $37.8 million of net cash from operating activities. Adjusted free cash flow (after investments and dividends) was $44.6 million.
Trinity rewarded its shareholders with $22.2 million in the second quarter.
Trinity carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performances of Other Transportation Companies
J.B. Hunt Transport Services, Inc.’s (JBHT - Free Report) second-quarter 2023 EPS of $1.81 missed the Zacks Consensus Estimate of $1.97 and declined 25.2% year over year.
JBHT’s total operating revenues of $3,132.6 million also lagged the Zacks Consensus Estimate of $3,347.5 million and fell 18.4% year over year. The downfall was due to a decline in revenue per load of 24% in Integrated Capacity Solutions, 13% in Intermodal, 21% in Truckload and a 4% decline in productivity in Dedicated Capacity Solutions on the back of changes in customer rate, freight mix and lower fuel surcharge revenue.
Total operating revenues, excluding fuel surcharges, decreased 14% year over year.
Delta Air Lines (DAL - Free Report) reported better-than-expected revenues and EPS, driven by strong air-travel demand. DAL’s second-quarter 2023 EPS (excluding 16 cents from non-recurring items) of $2.68 comfortably beat the Zacks Consensus Estimate of $2.42. DAL reported EPS of $1.44 a year ago, dull compared to the current scenario, as air-travel demand was not so buoyant then.
DAL’s total revenues of $15,578 million beat the Zacks Consensus Estimate of $14,991.6 million. Total revenues increased 12.69% on a year-over-year basis, driven by higher air-travel demand.
United Airlines Holdings, Inc. (UAL - Free Report) reported second-quarter 2023 EPS of $5.03, which outpaced the Zacks Consensus Estimate of $3.99 and improved more than 100% year over year.
Operating revenues of $14,178 million beat the Zacks Consensus Estimate of $13,927.1 million. UAL’s revenues increased 17.1% year over year due to upbeat air-travel demand. The year-over-year increase in the top line was driven by a 20.1% rise in passenger revenues (accounting for 91.7% of the top line) to $13,002 million. Nearly 42 million passengers traveled on UAL flights in the second quarter.
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Trinity Industries, Inc. (TRN - Free Report) shares gained 3.4% since its second-quarter 2023 earnings release on Aug 1. TRN’s second-quarter earnings per share (EPS) of 23 cents missed the Zacks Consensus Estimate of 33 cents but improved 64.3% year over year on the back of improved operating results, partially offset by higher interest expense.
Total revenues of $722.4 million outpaced the Zacks Consensus Estimate of $613.9 million and grew 73.3% year over year. The top line was aided by a higher volume of external deliveries in the Rail Products Group.
The Railcar Leasing and Management Services Group generated revenues of $223.2 million, up 14.3% year over year. Segmental revenues were boosted by higher utilization and improved lease rates.
Revenues in the Rail Products Group (before eliminations) totaled $709 million, up 64.6% year over year. The uptick was backed by higher delivery volumes, partially offset by the mix of railcars sold. Segmental operating profit was $23.7 million compared with $13.7 million in the year-ago period. The operating profit margin grew to 3.3% from 3.2% in the year-ago reported quarter.
Trinity exited the second quarter with cash and cash equivalents of $91.7 million compared with $81.9 million as of Mar 31, 2023. Debt totaled $5,832.6 million as of Jun 30, 2023, compared with $5,707.6 million at the prior-quarter end.
During the reported quarter, TRN generated $37.8 million of net cash from operating activities. Adjusted free cash flow (after investments and dividends) was $44.6 million.
Trinity rewarded its shareholders with $22.2 million in the second quarter.
Trinity carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performances of Other Transportation Companies
J.B. Hunt Transport Services, Inc.’s (JBHT - Free Report) second-quarter 2023 EPS of $1.81 missed the Zacks Consensus Estimate of $1.97 and declined 25.2% year over year.
JBHT’s total operating revenues of $3,132.6 million also lagged the Zacks Consensus Estimate of $3,347.5 million and fell 18.4% year over year. The downfall was due to a decline in revenue per load of 24% in Integrated Capacity Solutions, 13% in Intermodal, 21% in Truckload and a 4% decline in productivity in Dedicated Capacity Solutions on the back of changes in customer rate, freight mix and lower fuel surcharge revenue.
Total operating revenues, excluding fuel surcharges, decreased 14% year over year.
Delta Air Lines (DAL - Free Report) reported better-than-expected revenues and EPS, driven by strong air-travel demand. DAL’s second-quarter 2023 EPS (excluding 16 cents from non-recurring items) of $2.68 comfortably beat the Zacks Consensus Estimate of $2.42. DAL reported EPS of $1.44 a year ago, dull compared to the current scenario, as air-travel demand was not so buoyant then.
DAL’s total revenues of $15,578 million beat the Zacks Consensus Estimate of $14,991.6 million. Total revenues increased 12.69% on a year-over-year basis, driven by higher air-travel demand.
United Airlines Holdings, Inc. (UAL - Free Report) reported second-quarter 2023 EPS of $5.03, which outpaced the Zacks Consensus Estimate of $3.99 and improved more than 100% year over year.
Operating revenues of $14,178 million beat the Zacks Consensus Estimate of $13,927.1 million. UAL’s revenues increased 17.1% year over year due to upbeat air-travel demand. The year-over-year increase in the top line was driven by a 20.1% rise in passenger revenues (accounting for 91.7% of the top line) to $13,002 million. Nearly 42 million passengers traveled on UAL flights in the second quarter.
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Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
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