--- title: "Trinity Industries | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 485.1 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/294375991.md" datetime: "2026-07-30T13:37:25.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294375991.md) - [en](https://longbridge.com/en/news/294375991.md) - [zh-HK](https://longbridge.com/zh-HK/news/294375991.md) generator: "portal-rs" --- # Trinity Industries | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 485.1 M Revenue: As of FY2026 Q2, the actual value is USD 485.1 M, beating the estimate of USD 474.84 M. EPS: As of FY2026 Q2, the actual value is USD 1.25, missing the estimate of USD 1.37. EBIT: As of FY2026 Q2, the actual value is USD 200.7 M. ### Overall Performance (Q2 2026) Trinity Industries, Inc. reported total company revenues of $485 million, which was a 4% decrease year over year, primarily due to the divestitures of two partially-owned leasing subsidiaries, partially offset by higher lease rates. The company reported an operating profit of $199.8 million and net income of $98.3 million for the quarter. Net income from continuing operations attributable to Trinity Industries, Inc. was $102.2 million. Interest expense, net, was $64.3 million, and the effective tax expense rate was 23.7%. A non-cash pre-tax gain of $132 million was recorded from a railcar partnership transaction. The last twelve months (LTM) Return on Equity (ROE) was 30.2%, with an Adjusted ROE of 32.4%. ### Year-to-Date (Six Months Ended June 30, 2026) Metrics Net cash provided by operating activities from continuing operations was $172.4 million. Cash flow from operations with net gains on lease portfolio sales was $202.6 million. Net gains on lease portfolio sales totaled $30.2 million. Net fleet investment amounted to $126.0 million. Returns of capital to stockholders were $71.3 million. Investment in operating and administrative capital expenditures year-to-date was $18 million. ### Railcar Leasing and Services Group (Q2 2026) Revenues were $281.1 million, though leasing revenues were down year over year due to structural changes from closing railcar partnership transactions. The segment’s operating profit was $224.3 million, resulting in an operating profit margin of 79.8%. Excluding the $132 million non-cash gain from the Napier Park transaction, the Leasing and Services margin was 33.0%. Gains on lease portfolio sales were $8.2 million, with $31 million in lease portfolio sales completed during the quarter. A gain of $131.6 million was recorded on the divestiture of a partially-owned leasing subsidiary. Fleet utilization stood at 97.3%, and the Future Lease Rate Differential (FLRD) was +3.5%. The wholly-owned lease fleet comprised 96,280 units, and the investor-owned lease fleet consisted of 50,650 units. Quarterly net fleet investment was $58 million. ### Rail Products Group (Q2 2026) Revenues were $258.5 million, which was slightly down year over year due to lower deliveries. Operating profit was $3.4 million, leading to an operating profit margin of 1.3%. Deliveries of new railcars totaled 1,570 units, and new railcar orders amounted to 1,560 units with an order value of $189.3 million. The backlog value for new railcars was $1,585.2 million, or $1.6 billion at quarter-end. Deliveries of sustainable railcar conversions were 115 units, with a backlog of 370 units and a backlog value of $28.2 million. ### Eliminations (Q2 2026) Eliminations for revenues were -$54.5 million, and for operating profit, they were -$0.8 million. ### Corporate and Other (Q2 2026) Selling, engineering, and administrative expenses were $27.1 million. ### Cash Flow and Liquidity (Q2 2026) Cash Flow from Continuing Operations for Q2 2026 was $73 million, an increase of $9 million year over year. Year-to-date cash flow from continuing operations was $172 million. Cash flow from operations with net gains on lease portfolio sales was $81.0 million in Q2 2026 and $203 million year to date. Total committed liquidity was $1.0 billion as of June 30, 2026. The loan-to-value on the wholly-owned lease fleet increased to 70.8%, and the unencumbered fleet was approximately $900 million. Recourse debt was $599 million at an approximate interest rate of 7.8%, while non-recourse debt was $4.6 billion at an approximate interest rate of 4.4%. Cash and equivalents totaled $156 million, with revolver availability of $592 million and warehouse availability of $287 million. ### Outlook / Guidance Trinity Industries, Inc. anticipates industry deliveries of approximately 25,000 railcars for 2026, excluding sustainable railcar conversions. The company projects a net fleet investment between $300 million and $400 million, alongside operating and administrative capital expenditures ranging from $55 million to $65 million for the full year. Full-year EPS is expected to be between $2.20 and $2.40, excluding items outside core business operations, and the Rail Products Group full-year segment margin is projected to be in the 5% to 6% range. ### Related Stocks - [TRN.US](https://longbridge.com/en/quote/TRN.US.md) ## Related News & Research - [Trinity Industries Q2 profit jumps on railcar partnership gain](https://longbridge.com/en/news/294352374.md) - [Is Trinity (TRN) Using Buybacks And EPS Resilience To Redefine Its Capital Return Strategy?](https://longbridge.com/en/news/295004073.md) - [Northann amends 8-K to file former auditor LAO Professionals’ letter on resignation](https://longbridge.com/en/news/296825824.md) - [Skye Bio amends 8-K to set Aug. 24 effective date for reverse stock split](https://longbridge.com/en/news/296471274.md) - [Acres Commercial Realty files amended 8-K with pro forma financials for ACC internalization merger](https://longbridge.com/en/news/296825345.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**