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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Trainline
Trainline (TRN) investor relations material
Trainline Q2 2027 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2027 TU earnings summary11 Sep, 2026
Executive summary
Delivered robust first half performance for H1 FY2027, with group net ticket sales flat year-over-year at £3.3 billion and underlying revenue down 1% to £233 million.
Announced a new £100 million share buyback programme, following completion of a previous £350 million buyback representing 28% of issued share capital.
CEO transition announced, with Jody Ford handing over to Ian Brown.
Financial highlights
UK Consumer net ticket sales were flat at £2.1 billion, supported by strong rail demand and lower refunds, but offset by fare freeze, weather disruptions, and strikes.
International Consumer net ticket sales declined 4% year-over-year to £579 million, impacted by rail accidents in Spain, geopolitical tensions, and reduced marketing spend.
Trainline Solutions net ticket sales grew 3% to £548 million, driven by strong B2B distribution, especially international B2B up 45%.
Group Adjusted EBITDA as a percentage of net ticket sales for H1 FY2027 is expected to be slightly ahead of the full year guidance of approximately 2.9%.
Outlook and guidance
FY2027 guidance reconfirmed: group net ticket sales expected between £6.2 billion and £6.45 billion, underlying revenue between £440 million and £455 million, and Adjusted EBITDA at approximately 2.9% of net ticket sales.
International Consumer expected to breakeven on an Adjusted EBITDA basis for FY2027.
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Latest events from Trainline
- Europe's leading rail app posted strong FY2026 growth, expanding across UK, Europe, and B2B.TRN
Investor presentation - Double-digit EBITDA and EPS growth, with strong cash returns and expanding AI-driven operations.TRNH2 2026
- Net ticket sales up 8%, EBITDA up 14%, guidance raised, and £150m buyback launched.TRNH1 2026
- Net ticket sales up 8% YoY, improved profitability guidance, and £150m share buyback announced.TRNH1 2026 TU
- Net ticket sales up 14% and adjusted EBITDA up 44%, with upgraded guidance and digital growth.TRNH1 2025
- Sales and revenue growth outpace expectations, prompting upgraded full-year guidance.TRNTrading Update
- Record sales, robust growth, and new share buyback highlight Trainline's strong FY2025.TRNTrading Update
- Record sales and EBITDA growth driven by digital adoption and European market expansion.TRNH2 2025
Next Trainline earnings date
H1 20274 Nov, 2026
Trainline
Next Trainline earnings date
H1 20274 Nov, 2026
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Frequently asked questions
Trainline Plc provides an online platform for train and bus ticket booking across Europe. The company offers digital services that enable customers to plan journeys, compare fares, and purchase tickets via web and mobile applications. It serves individual travelers and corporate clients. The company is headquartered in London, United Kingdom, and its shares are listed on the LSE.