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Triton (TRTN) Q2 Earnings Beat, Revenues Miss Estimates
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Triton International Limited’s second-quarter 2023 earnings (excluding 4 cents from non-recurring items) of $2.38 per share surpassed the Zacks Consensus Estimate of $2.29. The bottom line, however, declined 18.5% year over year.
Total leasing revenues of $386.5 million missed the Zacks Consensus Estimate of $398.1 million and decreased 8.3% year over year. Revenues from operating leases (accounting for 93% of the top line) fell 8.2% year over year.
Equipment trading revenues of $26.4 million plunged 45% from the year-ago quarter. The trading margin was $1.91 million compared with $6.4 million in the prior-year quarter.
Triton generated return on equity (adjusted) of 21.2% in the reported quarter compared with 29.8% in the year-ago quarter. Total operating expenses increased 2.1% year over year to $196.9 million.
Triton International Limited Price, Consensus and EPS Surprise
The company exited second-quarter 2023 with an average utilization of 97% compared with 99.4% in second-quarter 2022.
TRTN’s board of directors has declared a quarterly cash dividend of 70 cents per share. The dividend will be paid out on Sep 22, to shareholders of record at the close of business on Sep 8.
Q2 Performance of Some Other Transportation Companies
J.B. Hunt Transport Services’ (JBHT - Free Report) second-quarter 2023 earnings of $1.81 per share missed the Zacks Consensus Estimate of $1.97 and declined 25.2% year over year. Total operating revenues of $3,132.6 million also lagged the Zacks Consensus Estimate of $3,347.5 million. The top line tumbled 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 and 21% in Truckload. A 4% decrease in productivity in Dedicated Capacity Solutions added to the woes. Changes in customer rate, freight mix and lower fuel surcharge revenues resulted in this downtick.
Delta Air Lines’ (DAL - Free Report) second-quarter 2023 earnings (excluding 16 cents from non-recurring items) of $2.68 per share comfortably beat the Zacks Consensus Estimate of $2.42. DAL reported earnings of $1.44 a year ago.
Revenues of $15,578 million outshined the Zacks Consensus Estimate of $14,991.6 million. Total revenues climbed 12.69% on a year-over-year basis driven by higher air-travel demand. Adjusted operating margin was 17.1% compared with 11.7% in the prior-year period.
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Triton (TRTN) Q2 Earnings Beat, Revenues Miss Estimates
Triton International Limited’s second-quarter 2023 earnings (excluding 4 cents from non-recurring items) of $2.38 per share surpassed the Zacks Consensus Estimate of $2.29. The bottom line, however, declined 18.5% year over year.
Total leasing revenues of $386.5 million missed the Zacks Consensus Estimate of $398.1 million and decreased 8.3% year over year. Revenues from operating leases (accounting for 93% of the top line) fell 8.2% year over year.
Equipment trading revenues of $26.4 million plunged 45% from the year-ago quarter. The trading margin was $1.91 million compared with $6.4 million in the prior-year quarter.
Triton generated return on equity (adjusted) of 21.2% in the reported quarter compared with 29.8% in the year-ago quarter. Total operating expenses increased 2.1% year over year to $196.9 million.
Triton International Limited Price, Consensus and EPS Surprise
Triton International Limited price-consensus-eps-surprise-chart | Triton International Limited Quote
The company exited second-quarter 2023 with an average utilization of 97% compared with 99.4% in second-quarter 2022.
TRTN’s board of directors has declared a quarterly cash dividend of 70 cents per share. The dividend will be paid out on Sep 22, to shareholders of record at the close of business on Sep 8.
Currently, Triton carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q2 Performance of Some Other Transportation Companies
J.B. Hunt Transport Services’ (JBHT - Free Report) second-quarter 2023 earnings of $1.81 per share missed the Zacks Consensus Estimate of $1.97 and declined 25.2% year over year. Total operating revenues of $3,132.6 million also lagged the Zacks Consensus Estimate of $3,347.5 million. The top line tumbled 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 and 21% in Truckload. A 4% decrease in productivity in Dedicated Capacity Solutions added to the woes. Changes in customer rate, freight mix and lower fuel surcharge revenues resulted in this downtick.
Delta Air Lines’ (DAL - Free Report) second-quarter 2023 earnings (excluding 16 cents from non-recurring items) of $2.68 per share comfortably beat the Zacks Consensus Estimate of $2.42. DAL reported earnings of $1.44 a year ago.
Revenues of $15,578 million outshined the Zacks Consensus Estimate of $14,991.6 million. Total revenues climbed 12.69% on a year-over-year basis driven by higher air-travel demand. Adjusted operating margin was 17.1% compared with 11.7% in the prior-year period.