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Triton International Limited’s second-quarter 2021 earnings (excluding $1.33 from non-recurring items) of $2.14 per share surpassed the Zacks Consensus Estimate of $2.01. Moreover, the bottom line surged 148.8% year over year owing to strong trade volumes and container demand.
Total leasing revenues of $369.8 million fell short of the Zacks Consensus Estimate of $376.8 million. The top line, however, improved 15.8% year over year with a 15.2% rise in revenues from operating leases, which accounted for 97.6% of the top line.
Equipment trading revenues of $25.9 million soared 96.3% from the year-ago quarter’s figure. Trading margin came in at $10.7 million compared with $2 million in the prior-year quarter.
The company generated a return on equity of 26.6% in the reported quarter compared with 12.2% in the year-ago quarter. Total operating expenses were flat at $183.3 million.
This currently Zacks Rank #3 (Hold) company exited the second quarter with average utilization of 99.4%, up 30 basis points, sequentially.
The company expects profitability in the September quarter to increase sequentially, driven by an uptick in the leasing margin.
Triton's board approved a quarterly dividend of 57 cents per share, payable Sep 23 to its shareholders of record as of Sep 9.
Sectorial Snapshots
Within the broader Transportation sector, Delta Air Lines (DAL - Free Report) , J.B. Hunt Transport Services (JBHT - Free Report) and Kansas City Southern recently reported second-quarter 2021 results.
Delta incurred a loss (excluding $2.09 from non-recurring items) of $1.07 per share, narrower than the Zacks Consensus Estimate of a loss of $1.41. Total revenues of $7,126 million also topped the Zacks Consensus Estimate of $6,340.9 million.
J.B. Hunt reported earnings of $1.61 per share, surpassing the Zacks Consensus Estimate of $1.55. Total operating revenues of $2908.4 million outperformed the Zacks Consensus Estimate of $2722 million.
Kansas City Southern reported earnings (excluding $6.23 from non-recurring items) of $2.06 per share, missing the Zacks Consensus Estimate of $2.16. Quarterly revenues of $749.5 million surpassed the Zacks Consensus Estimate of $733.1 million.
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Triton's (TRTN) Q2 Earnings Surpass Estimates, Soar Y/Y
Triton International Limited’s second-quarter 2021 earnings (excluding $1.33 from non-recurring items) of $2.14 per share surpassed the Zacks Consensus Estimate of $2.01. Moreover, the bottom line surged 148.8% year over year owing to strong trade volumes and container demand.
Total leasing revenues of $369.8 million fell short of the Zacks Consensus Estimate of $376.8 million. The top line, however, improved 15.8% year over year with a 15.2% rise in revenues from operating leases, which accounted for 97.6% of the top line.
Equipment trading revenues of $25.9 million soared 96.3% from the year-ago quarter’s figure. Trading margin came in at $10.7 million compared with $2 million in the prior-year quarter.
The company generated a return on equity of 26.6% in the reported quarter compared with 12.2% in the year-ago quarter. Total operating expenses were flat at $183.3 million.
This currently Zacks Rank #3 (Hold) company exited the second quarter with average utilization of 99.4%, up 30 basis points, sequentially.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The company expects profitability in the September quarter to increase sequentially, driven by an uptick in the leasing margin.
Triton's board approved a quarterly dividend of 57 cents per share, payable Sep 23 to its shareholders of record as of Sep 9.
Sectorial Snapshots
Within the broader Transportation sector, Delta Air Lines (DAL - Free Report) , J.B. Hunt Transport Services (JBHT - Free Report) and Kansas City Southern recently reported second-quarter 2021 results.
Delta incurred a loss (excluding $2.09 from non-recurring items) of $1.07 per share, narrower than the Zacks Consensus Estimate of a loss of $1.41. Total revenues of $7,126 million also topped the Zacks Consensus Estimate of $6,340.9 million.
J.B. Hunt reported earnings of $1.61 per share, surpassing the Zacks Consensus Estimate of $1.55. Total operating revenues of $2908.4 million outperformed the Zacks Consensus Estimate of $2722 million.
Kansas City Southern reported earnings (excluding $6.23 from non-recurring items) of $2.06 per share, missing the Zacks Consensus Estimate of $2.16. Quarterly revenues of $749.5 million surpassed the Zacks Consensus Estimate of $733.1 million.