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Trinity Hurt by Operational Inefficiency & Low Delivery
We recently issued an updated report on Trinity Industries, Inc. (TRN - Free Report) .
Like many other transportation companies, Trinity is hit by uncertainties related to the COVID-19 pandemic.
Trinity’s bottom line declined year over year mainly due to disappointing performance of the Rail Products Group. Segmental revenues and operating profit declined, thanks to low railcar deliveries and reduced operational efficiency.
Trinity Industries, Inc. Price
Trinity Industries, Inc. price | Trinity Industries, Inc. Quote
While first-quarter results weren’t affected much, Trinity expects the coronavirus pandemic to affect its near-term performance. Weak shipping volumes in Trinity’s highway products operations might hurt results. To combat the crisis, the company has cut back on non-essential expenses. It expects costs to reduce by $25-$30 million in 2020 on the back of these endeavors. Lower investments might hamper its growth prospects.
Moreover, since E. Jean Savage took over as the company's president and CEO, replacing the company's long-serving CEO Timothy R. Wallace, it is feared that investors’ confidence in the stock may take a hit.
Meanwhile, Trinity’s top-line performance in first-quarter 2020 is impressive owing to higher railcar volumes. Also, at the end of the first quarter, Trinity did not have any short-term debt, while its cash and cash equivalents stood at $213 million at the end of the same period.
Zacks Ranks & Key Picks
Trinity currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks from the broader Zacks Transportation sector are Air Lease Corporation (AL - Free Report) , Ryanair Holdings plc (RYAAY - Free Report) and Teekay Tankers Ltd. (TNK - Free Report) . All the stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings (three to five years) growth rate for Air Lease, Ryanair Holdings and Teekay Tankers is estimated at 3.05%, 20.49% and 3%, respectively.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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