It has been about a month since the last earnings report for Triton International . Shares have lost about 2.5% in that time frame, outperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Triton due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.

Earnings Beat at Triton in Q4

Triton's 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).

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 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 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.

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, Triton is likely to experience some seasonal softness with regard to dry containers.

How Have Estimates Been Moving Since Then?

Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.