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Triton (TRTN) Q4 Earnings Beat Estimates, Revenues Lag
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Triton International Limited’s fourth-quarter 2022 earnings of $2.76 per share surpassed the Zacks Consensus Estimate of $2.70 and jumped 3.4% year over year.
Total leasing revenues of $416.31 million missed the Zacks Consensus Estimate of $422.5 million and decreased 0.2% year over year. Revenues from operating leases (accounting for 93% of the top line) fell 1.7% year over year.
Equipment trading revenues of $20.86 million fell 47.1% from the year-ago quarter. The trading margin was $1.78 million compared with $6.06 million in the prior-year quarter.
Triton generated a return on equity (adjusted) of 25.4% in the reported quarter compared with 30.7% in the year-ago quarter. Total operating expenses decreased 0.6% year over year to $193.89 million.
Triton exited the fourth quarter with average utilization of 98.4% compared with 99.1% in the third quarter.
Triton repurchased 2.8 million shares in the fourth quarter of 2022. The company repurchased an additional 0.6 million shares through Feb 8, 2023.
TRTN’s board of directors has declared a quarterly cash dividend of 70 cents per share. The dividend will be paid out on Mar 24, 2023, to shareholders of record at the close of business on Mar 10, 2023.
United Airlines’ (UAL - Free Report) fourth-quarter 2022 earnings of $2.46 per share beat the Zacks Consensus Estimate of $2.07. In the year-ago quarter, UAL incurred a loss of $1.60 per share when air-travel demand was not as buoyant as in the current scenario. The fourth quarter of 2022 was the third consecutive profitable quarter at UAL since the onset of the pandemic.
Operating revenues of $12,400 million beat the Zacks Consensus Estimate of $12,230 million. UAL’s revenues increased 51.37% year over year due to upbeat air-travel demand. The optimistic air-travel demand scenario is also evident from the fact that total operating revenues increased 13.9% from fourth-quarter 2019 (pre-coronavirus) levels.
Delta Air Lines’ (DAL - Free Report) fourth-quarter 2022 earnings (excluding 19 cents from non-recurring items) of $1.48 per share beat the Zacks Consensus Estimate of $1.29 per share. DAL reported earnings of 22 cents per share a year ago, dull in comparison to the current scenario, as air-travel demand was not so buoyant then.
DAL reported revenues of $13,435 million, which surpassed the Zacks Consensus Estimate of $13,030.3 million. Driven by the high air-travel demand, total revenues increased more than 41.87% on a year-over-year basis.
J.B. Hunt Transport Services, Inc.’s (JBHT - Free Report) fourth-quarter 2022 earnings of $1.92 per share missed the Zacks Consensus Estimate of $2.45 and declined 16% year over year.
JBHT’s total operating revenues of $3,649.62 million also lagged the Zacks Consensus Estimate of $3,796.8 million. The top line jumped 4.4% year over year. Total operating revenues, excluding fuel surcharges, fell 2.9% year over year.
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Triton (TRTN) Q4 Earnings Beat Estimates, Revenues Lag
Triton International Limited’s fourth-quarter 2022 earnings of $2.76 per share surpassed the Zacks Consensus Estimate of $2.70 and jumped 3.4% year over year.
Total leasing revenues of $416.31 million missed the Zacks Consensus Estimate of $422.5 million and decreased 0.2% year over year. Revenues from operating leases (accounting for 93% of the top line) fell 1.7% year over year.
Equipment trading revenues of $20.86 million fell 47.1% from the year-ago quarter. The trading margin was $1.78 million compared with $6.06 million in the prior-year quarter.
Triton generated a return on equity (adjusted) of 25.4% in the reported quarter compared with 30.7% in the year-ago quarter. Total operating expenses decreased 0.6% year over year to $193.89 million.
Triton exited the fourth quarter with average utilization of 98.4% compared with 99.1% in the third quarter.
Triton repurchased 2.8 million shares in the fourth quarter of 2022. The company repurchased an additional 0.6 million shares through Feb 8, 2023.
TRTN’s board of directors has declared a quarterly cash dividend of 70 cents per share. The dividend will be paid out on Mar 24, 2023, to shareholders of record at the close of business on Mar 10, 2023.
Currently, Triton carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Transportation Companies
United Airlines’ (UAL - Free Report) fourth-quarter 2022 earnings of $2.46 per share beat the Zacks Consensus Estimate of $2.07. In the year-ago quarter, UAL incurred a loss of $1.60 per share when air-travel demand was not as buoyant as in the current scenario. The fourth quarter of 2022 was the third consecutive profitable quarter at UAL since the onset of the pandemic.
Operating revenues of $12,400 million beat the Zacks Consensus Estimate of $12,230 million. UAL’s revenues increased 51.37% year over year due to upbeat air-travel demand. The optimistic air-travel demand scenario is also evident from the fact that total operating revenues increased 13.9% from fourth-quarter 2019 (pre-coronavirus) levels.
Delta Air Lines’ (DAL - Free Report) fourth-quarter 2022 earnings (excluding 19 cents from non-recurring items) of $1.48 per share beat the Zacks Consensus Estimate of $1.29 per share. DAL reported earnings of 22 cents per share a year ago, dull in comparison to the current scenario, as air-travel demand was not so buoyant then.
DAL reported revenues of $13,435 million, which surpassed the Zacks Consensus Estimate of $13,030.3 million. Driven by the high air-travel demand, total revenues increased more than 41.87% on a year-over-year basis.
J.B. Hunt Transport Services, Inc.’s (JBHT - Free Report) fourth-quarter 2022 earnings of $1.92 per share missed the Zacks Consensus Estimate of $2.45 and declined 16% year over year.
JBHT’s total operating revenues of $3,649.62 million also lagged the Zacks Consensus Estimate of $3,796.8 million. The top line jumped 4.4% year over year. Total operating revenues, excluding fuel surcharges, fell 2.9% year over year.