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Triton (TRTN) Beats on Q4 Earnings & Revenues, Stock Up

·3 min read

Triton International Limited’s TRTN fourth-quarter 2021 earnings of $2.67 per share surpassed the Zacks Consensus Estimate of $2.57. The bottom line jumped 57.1% year over year owing to strong trade volumes and container demand.

Total leasing revenues of $417.2 million outperformed the Zacks Consensus Estimate of $413.7 million. The top line jumped 23.7% year over year with a 19.5% rise in revenues from operating leases (which accounted for 94.6% of the top line). Following this solid fourth-quarter performance, shares of Triton surged nearly 10% at the close of business on Feb 15.

Equipment trading revenues of $39.42 million soared 43.9% from the year-ago quarter’s figure. Trading margin came in at $6.07 million compared with nearly $7 million in the prior-year quarter.

Triton International Limited Price, Consensus and EPS Surprise

Triton International Limited Price, Consensus and EPS Surprise
Triton International Limited Price, Consensus and EPS Surprise

Triton International Limited price-consensus-eps-surprise-chart | Triton International Limited Quote


Triton generated a return on equity of 30.7% in the reported quarter compared with 22.9% in the year-ago quarter. Total operating expenses increased 13.1% year over year to $194.98 million.

Triton, carrying a Zacks Rank #3 (Hold), exited the fourth quarter with average utilization of 99.6%, flat on a sequential basis.

During the fourth quarter, Triton repurchased 1.1 million shares and an additional 0.7 million shares through Feb 11, 2022.

Dividend Update

Triton’s board approved a quarterly cash dividend of 65 cents per share, payable to shareholders on Mar 25, of record as on Mar 11.

Outlook

Triton expects container demand to remain strong through 2022. The company expects container supply to align better with demand in 2022 due to increased new container production volumes, and easing of new container prices from the peak.

During the first quarter of 2022, TRTN is likely to experience some seasonal softness with regard to dry containers.

Sectorial Snapshots

Let’s take a look at some of the other earnings releases from companies within the Zacks Transportation sector.

Werner Enterprises WERN, carrying a Zacks Rank #3, reported fourth-quarter 2021 earnings (excluding 2 cents from non-recurring items) of $1.13 per share, which surpassed the Zacks Consensus Estimate of 96 cents. The bottom line rose 27% on a year-over-year basis.

Werner’s total revenues of $765.2 million also outperformed the Zacks Consensus Estimate of $725.1 million. The top line increased 23.4% on a year-over-year basis, primarily on higher revenues in the Truckload Transportation Services and Logistics segments.

GATX Corporation GATX, sporting a Zacks Rank #1 (Strong Buy), reported fourth-quarter 2021 earnings (excluding 11 cents from non-recurring items) of $1.58 per share, which surpassed the Zacks Consensus Estimate of $1.07. The bottom line surged more than 200% year over year. You can see the complete list of today’s Zacks #1 Rank stocks here.

GATX’s total revenues of $321 million increased 5.3% year over year, mainly on a 5.2% rise in lease revenues, which came in at $288.4 million. Lease revenues contributed 89.8% to the top line.

C.H. Robinson Worldwide CHRW, carrying a Zacks Rank #3, reported fourth-quarter 2021 earnings of $1.74 per share, which fell short of the Zacks Consensus Estimate of $1.85. However, the bottom line surged 61.1% year over year.

C.H. Robinson’s total revenues of $6,501.8 million outperformed the Zacks Consensus Estimate of $6,190.8 million. The top line jumped 42.9% year over year owing to higher pricing and volumes across most of the company’s service lines.


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