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Triton's (TRTN) Q2 Earnings Surpass Estimates, Soar Y/Y

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Triton International Limited’s (TRTN - Free Report) 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  (KSU - Free Report) 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.