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Trinity (TRN) Q1 Earnings Miss Estimates, Revenues Beat
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Trinity Industries, Inc. (TRN - Free Report) reported mixed first-quarter 2023 results wherein earnings missed the Zacks Consensus Estimate, but revenues surpassed the same.
Quarterly earnings of 7 cents per share missed the Zacks Consensus Estimate of 32 cents but improved more than 100% year over year. Total revenues of $641.7 million outpaced the Zacks Consensus Estimate of $580 million and grew 35.7% year over year. The top line was aided by a higher volume of external deliveries and improved pricing in the Rail Products Group.
Trinity Industries, Inc. Price, Consensus and EPS Surprise
The Railcar Leasing and Management Services Group generated revenues of $203.5 million, up 11.1% year over year. Segmental revenues were boosted by higher utilization and improved lease rates.
Revenues in the Rail Products Group (before eliminations) totaled $637.8 million, up 63.1% year over year. The uptick was backed by higher delivery volumes and favorable pricing, partially offset by the mix of railcars sold. Segmental operating profit was $25.3 million compared with $0.8 million in the year-ago period. The operating profit margin grew to 4% from 0.2% in the year-ago reported quarter.
Trinity exited the first quarter with cash and cash equivalents of $81.9 million compared with $79.6 million at December 2022-end. Debt totaled $5,707.6 million as of Dec 31, 2022, compared with $5,607.6 million at the end of December 2022.
During the reported quarter, TRN generated $99.4 million of net cash from operating activities. Adjusted free cash flow(after investments and dividends) was $36.2 million.
Trinity rewarded its shareholders with dividends worth $21.1 million.
For 2023, Trinity continues to anticipate earnings in the range of $1.50-$1.70 per share. The Zacks Consensus Estimate of $1.67 lies within the guidance.
Currently, Trinity carries a Zacks Rank #4 (Sell).
J.B. Hunt Transport Services, Inc.’s (JBHT - Free Report) first-quarter 2023 earnings of $1.89 per share missed the Zacks Consensus Estimate of $2.04 and declined 17.5% year over year.
JBHT’s total operating revenues of $3,229.58 million also lagged the Zacks Consensus Estimate of $3,434.4 million and fell 7.4% year over year. The downfall was due to declines in the volume of 25% in Integrated Capacity Solutions (ICS), 5% in Intermodal (JBI) and 17% in Final Mile Services (FMS), and a 17% decline in revenue per load in Truckload (JBT). Revenue declines in ICS, JBI, FMS and JBT were partially offset by Dedicated Contract Services revenue growth of 13%.
JBHT’s total operating revenues, excluding fuel surcharges, decreased 10.2% year over year.
Delta Air Lines’ (DAL - Free Report) first-quarter 2023 earnings (excluding 82 cents from non-recurring items) of 25 cents per share missed the Zacks Consensus Estimate of 29 cents. Volatile fuel prices and unfavorable weather conditions led to this downtick. DAL reported a loss of $1.23 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 $12,759 million, which missed the Zacks Consensus Estimate of $12,767.4 million. Driven by higher air-travel demand, total revenues increased 36.49% on a year-over-year basis.
Alaska Air Group, Inc. (ALK - Free Report) reported a first-quarter 2023loss of 62 cents per share, wider than the Zacks Consensus Estimate of a loss of 48 cents. In the year-ago quarter, ALK incurred a loss of $1.33 per share.
ALK’s operating revenues of $ 2,196 million missed the Zacks Consensus Estimate of $2,202.5 million. The top line jumped 31% year over year, with passenger revenues accounting for 90.3% of the top line and increasing 31% owing to continued recovery in air-travel demand.
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Trinity (TRN) Q1 Earnings Miss Estimates, Revenues Beat
Trinity Industries, Inc. (TRN - Free Report) reported mixed first-quarter 2023 results wherein earnings missed the Zacks Consensus Estimate, but revenues surpassed the same.
Quarterly earnings of 7 cents per share missed the Zacks Consensus Estimate of 32 cents but improved more than 100% year over year. Total revenues of $641.7 million outpaced the Zacks Consensus Estimate of $580 million and grew 35.7% year over year. The top line was aided by a higher volume of external deliveries and improved pricing in the Rail Products Group.
Trinity Industries, Inc. Price, Consensus and EPS Surprise
Trinity Industries, Inc. price-consensus-eps-surprise-chart | Trinity Industries, Inc. Quote
The Railcar Leasing and Management Services Group generated revenues of $203.5 million, up 11.1% year over year. Segmental revenues were boosted by higher utilization and improved lease rates.
Revenues in the Rail Products Group (before eliminations) totaled $637.8 million, up 63.1% year over year. The uptick was backed by higher delivery volumes and favorable pricing, partially offset by the mix of railcars sold. Segmental operating profit was $25.3 million compared with $0.8 million in the year-ago period. The operating profit margin grew to 4% from 0.2% in the year-ago reported quarter.
Trinity exited the first quarter with cash and cash equivalents of $81.9 million compared with $79.6 million at December 2022-end. Debt totaled $5,707.6 million as of Dec 31, 2022, compared with $5,607.6 million at the end of December 2022.
During the reported quarter, TRN generated $99.4 million of net cash from operating activities. Adjusted free cash flow(after investments and dividends) was $36.2 million.
Trinity rewarded its shareholders with dividends worth $21.1 million.
For 2023, Trinity continues to anticipate earnings in the range of $1.50-$1.70 per share. The Zacks Consensus Estimate of $1.67 lies within the guidance.
Currently, Trinity carries a Zacks Rank #4 (Sell).
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) first-quarter 2023 earnings of $1.89 per share missed the Zacks Consensus Estimate of $2.04 and declined 17.5% year over year.
JBHT’s total operating revenues of $3,229.58 million also lagged the Zacks Consensus Estimate of $3,434.4 million and fell 7.4% year over year. The downfall was due to declines in the volume of 25% in Integrated Capacity Solutions (ICS), 5% in Intermodal (JBI) and 17% in Final Mile Services (FMS), and a 17% decline in revenue per load in Truckload (JBT). Revenue declines in ICS, JBI, FMS and JBT were partially offset by Dedicated Contract Services revenue growth of 13%.
JBHT’s total operating revenues, excluding fuel surcharges, decreased 10.2% year over year.
Delta Air Lines’ (DAL - Free Report) first-quarter 2023 earnings (excluding 82 cents from non-recurring items) of 25 cents per share missed the Zacks Consensus Estimate of 29 cents. Volatile fuel prices and unfavorable weather conditions led to this downtick. DAL reported a loss of $1.23 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 $12,759 million, which missed the Zacks Consensus Estimate of $12,767.4 million. Driven by higher air-travel demand, total revenues increased 36.49% on a year-over-year basis.
Alaska Air Group, Inc. (ALK - Free Report) reported a first-quarter 2023 loss of 62 cents per share, wider than the Zacks Consensus Estimate of a loss of 48 cents. In the year-ago quarter, ALK incurred a loss of $1.33 per share.
ALK’s operating revenues of $ 2,196 million missed the Zacks Consensus Estimate of $2,202.5 million. The top line jumped 31% year over year, with passenger revenues accounting for 90.3% of the top line and increasing 31% owing to continued recovery in air-travel demand.