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Triton International (TRTN) investor relations material
Triton International Investor Presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Market and operational overview
Macro conditions remain uncertain, but performance stayed strong in Q1 2025.
Leasing activity slowed as customers paused fleet additions.
Fleet utilization averaged 99% for Q1, with drop-off volumes well controlled.
Disposal volumes and prices held up well despite market conditions.
Acquisition of Global Container International announced, adding ~500k TEU and ~$1bn in assets.
Financial performance
Q1 2025 leasing revenue was $383M, up 3.2% year-over-year but down 2.6% sequentially.
Adjusted net income attributable to common shareholders for Q1 2025 was $131M, a 9.7% increase year-over-year.
Cash flow before capex (excluding certain items) for Q1 2025 was $364M.
Net debt to revenue earning assets ratio remained stable, reflecting strong leverage management.
Non-GAAP measures are used to provide a clearer view of operating performance.
Lease portfolio and utilization
86% of the lease portfolio is underpinned by long-term contracts.
Average remaining lease term exceeds 6.5 years, supporting revenue stability.
Over 60% of the portfolio is on lifecycle leases, ensuring containers reach sale age at lease expiration.
Utilization rates have remained high, averaging around 99% in Q1 2025.
Historical lease structuring and pricing strategies are aligned with recent acquisitions.
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