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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.
Trinity Industries
Trinity Industries (TRN) investor relations material
Trinity Industries Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary29 Oct, 2026
Executive summary
Q3 revenue rose 17.8% YoY to $535.1M, while operating profit fell 19.4% to $95.6M; continuing-operations diluted EPS was $0.27.
LTM Adjusted ROE was 31.8%; lease fleet utilization was 97.0%, and railcar orders of 2,190 exceeded deliveries of 2,030, with a $1.647B backlog.
Financial highlights
Q3 revenue was $535.1M vs. $454.1M YoY; operating profit was $95.6M vs. $118.6M.
Q3 income from continuing operations was $21.5M vs. $37.1M; diluted continuing-operations EPS was $0.27 vs. $0.38. Diluted EPS including discontinued operations was $0.22.
Nine-month revenue was $1,512.2M vs. $1,545.7M; operating profit was $396.5M vs. $313.8M, including a $131.6M divestiture gain.
Nine-month cash flow from continuing operations was $242.7M vs. $187.2M; Q3 cash flow from continuing operations was $70M.
Outlook and guidance
FY26 continuing-operations EPS guidance remains $2.20-$2.40; management expects to finish within the range.
FY26 industry deliveries are expected below 25,000 railcars, with 2026 viewed as the cyclical low; 2027 deliveries are expected at 30,000-35,000.
FY26 net fleet investment guidance is $300M-$350M; operating and administrative capex guidance is $55M-$65M.
Secondary-market railcar sale-gain expectations increased to $180M-$200M; higher external deliveries are anticipated in Q4.
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Latest events from Trinity Industries
- Q2 2026 EPS rose to $1.25 on a $132M gain, with 97.3% lease utilization and steady guidance.TRN
Q2 2026 - Disciplined fleet growth and high utilization drive strong cash flow amid ongoing market uncertainty.TRN16th Annual Wells Fargo Industrials & Materials Conference
- Q1 2026 EPS up 10%, guidance raised, and strong lease utilization at 97.3%.TRNQ1 2026
- 2026 proxy covers director elections, say-on-pay, auditor ratification, and highlights ESG focus.TRNProxy filing
- Board recommends approval of all director, compensation, and auditor proposals for 2026.TRNProxy filing
- EPS up 73% to $3.14, with 2026 EPS guided at $1.85–$2.10 and high fleet utilization.TRNQ4 2025
- Leasing demand is steady but delayed, with asset inflation and high utilization supporting strong returns.TRNGoldman Sachs Industrials and Materials Conference 2025
- Q2 revenue up 16%, EPS up $0.43, and full-year guidance raised on strong railcar demand.TRNQ2 2024
- Three-year targets: $750M–$1B net fleet investment, $1.2B–$1.4B cash flow, 12%–15% ROE.TRNInvestor Day 2024
Next Trinity Industries earnings date
Q4 202624 Feb, 2027
Trinity Industries
Next Trinity Industries earnings date
Q4 202624 Feb, 2027
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Frequently asked questions
Trinity Industries Inc is a diversified industrial company that provides railcar products and services. The company designs, manufactures, leases, and maintains freight and tank railcars through its integrated platform. It also offers logistics support and fleet management solutions. Trinity Industries Inc is headquartered in Dallas, Texas, and its shares are listed on the NYSE.