U.S. Markets close in 2 hrs 37 mins
  • S&P 500

    4,462.52
    -18.18 (-0.41%)
     
  • Dow 30

    34,680.11
    -134.28 (-0.39%)
     
  • Nasdaq

    15,116.43
    -45.10 (-0.30%)
     
  • Russell 2000

    2,249.73
    -25.88 (-1.14%)
     
  • Crude Oil

    69.39
    +1.04 (+1.52%)
     
  • Gold

    1,790.70
    -7.80 (-0.43%)
     
  • Silver

    23.95
    -0.38 (-1.58%)
     
  • EUR/USD

    1.1823
    -0.0025 (-0.2128%)
     
  • 10-Yr Bond

    1.3290
    +0.0250 (+1.92%)
     
  • Vix

    17.96
    -0.18 (-0.99%)
     
  • GBP/USD

    1.3773
    -0.0013 (-0.0909%)
     
  • USD/JPY

    110.2260
    -0.0330 (-0.0299%)
     
  • BTC-USD

    47,986.54
    -137.51 (-0.29%)
     
  • CMC Crypto 200

    1,233.31
    +0.02 (+0.00%)
     
  • FTSE 100

    7,095.53
    -53.84 (-0.75%)
     
  • Nikkei 225

    30,181.21
    +265.07 (+0.89%)
     

Triton's (TRTN) Q2 Earnings Surpass Estimates, Soar Y/Y

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Triton International Limited’s TRTN second-quarter 2021 earnings (excluding $1.33 from non-recurring items) of $2.14 per share surpassed the Zacks Consensus Estimate of $2.01. Moreover, the bottom line surged 148.8% year over year owing to strong trade volumes and container demand.

Total leasing revenues of $369.8 million fell short of the Zacks Consensus Estimate of $376.8 million. The top line, however, improved 15.8% year over year with a 15.2% rise in revenues from operating leases, which accounted for 97.6% of the top line.

Equipment trading revenues of $25.9 million soared 96.3% from the year-ago quarter’s figure. Trading margin came in at $10.7 million compared with $2 million in the prior-year quarter.

The company generated a return on equity of 26.6% in the reported quarter compared with 12.2% in the year-ago quarter. Total operating expenses were flat at $183.3 million.

This currently Zacks Rank #3 (Hold) company exited the second quarter with average utilization of 99.4%, up 30 basis points, sequentially.

You can see   the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The company expects profitability in the September quarter to increase sequentially, driven by an uptick in the leasing margin.

Triton's board approved a quarterly dividend of 57 cents per share, payable Sep 23 to its shareholders of record as of Sep 9.

Sectorial Snapshots

Within the broader  Transportation  sector,  Delta Air Lines  DAL,  J.B. Hunt Transport Services  JBHT and  Kansas City Southern  KSU recently reported second-quarter 2021 results.

Delta incurred a loss (excluding $2.09 from non-recurring items) of $1.07 per share, narrower than the Zacks Consensus Estimate of a loss of $1.41.  Total revenues of $7,126 million also topped the Zacks Consensus Estimate of $6,340.9 million.

J.B. Hunt reported earnings of $1.61 per share, surpassing the Zacks Consensus Estimate of $1.55.  Total operating revenues of $2908.4 million outperformed the Zacks Consensus Estimate of $2722 million.

Kansas City Southern reported earnings (excluding $6.23 from non-recurring items) of $2.06 per share, missing the Zacks Consensus Estimate of $2.16.  Quarterly revenues of $749.5 million surpassed the Zacks Consensus Estimate of $733.1 million.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report
 
J.B. Hunt Transport Services, Inc. (JBHT) : Free Stock Analysis Report
 
Kansas City Southern (KSU) : Free Stock Analysis Report
 
Triton International Limited (TRTN) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research