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Triton (TRTN) Q1 Earnings Beat Estimates, Revenues Miss
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Triton International Limited’s first-quarter 2023 earnings (excluding 2 cents from non-recurring items) of $2.42 per share surpassed the Zacks Consensus Estimate of $2.25 but declined 12.3% year over year.
Total leasing revenues of $397.7 million missed the Zacks Consensus Estimate of $402.1 million and decreased 4.6% year over year. Revenues from operating leases (accounting for 93% of the top line) fell 5% year over year.
Equipment trading revenues of $19.1 million fell 44% from the year-ago quarter. The trading margin was $1.07 million compared with $4.14 million in the prior-year quarter.
Triton International Limited Price, Consensus and EPS Surprise
Triton generated a return on equity (adjusted) of 22.5% in the reported quarter compared with 30.3% in the year-ago quarter. Total operating expenses increased 2.4% year over year to $192.7 million.
The company exited first-quarter 2023 with average utilization of 97.6% compared with 99.6% in first-quarter 2022.
Triton repurchased 1.7 million shares in the first quarter of 2023.
TRTN’s board of directors has declared a quarterly cash dividend of 70 cents per share. The dividend will be paid out on Jun 22 to shareholders of record at the close of business on Jun 8.
J.B. Hunt Transport Services, Inc.’s (JBHT - Free Report) first-quarter 2023 earnings of $1.89 per share missed the Zacks Consensus Estimate of $2.04 and declined 17.5% year over year.
JBHT’s total operating revenues of $3,229.58 million lagged the Zacks Consensus Estimate of $3,434.4 million and fell 7.4% year over year. The downfall was due to declines in the volume of 25% in Integrated Capacity Solutions (ICS), 5% in Intermodal (JBI) and 17% in Final Mile Services (FMS). A decline of 17% in revenue per load in Truckload (JBT) added to the woes. Revenue declines in ICS, JBI, FMS and JBT were partially offset by Dedicated Contract Services revenue growth of 13%. JBHT’s total operating revenues, excluding fuel surcharges, decreased 10.2% year over year.
Delta Air Lines’ (DAL - Free Report) first-quarter 2023 earnings (excluding 82 cents from non-recurring items) of 25 cents per share missed the Zacks Consensus Estimate of 29 cents. Volatile fuel price and unfavorable weather conditions led to this downtick. DAL reported a loss of $1.23 per share a year ago as air-travel demand was not so buoyant back then.
DAL reported revenues of $12,759 million, which missed the Zacks Consensus Estimate of $12,767.4 million. However, driven by higher air-travel demand, total revenues increased 36.49% on a year-over-year basis.
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Triton (TRTN) Q1 Earnings Beat Estimates, Revenues Miss
Triton International Limited’s first-quarter 2023 earnings (excluding 2 cents from non-recurring items) of $2.42 per share surpassed the Zacks Consensus Estimate of $2.25 but declined 12.3% year over year.
Total leasing revenues of $397.7 million missed the Zacks Consensus Estimate of $402.1 million and decreased 4.6% year over year. Revenues from operating leases (accounting for 93% of the top line) fell 5% year over year.
Equipment trading revenues of $19.1 million fell 44% from the year-ago quarter. The trading margin was $1.07 million compared with $4.14 million in the prior-year quarter.
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 (adjusted) of 22.5% in the reported quarter compared with 30.3% in the year-ago quarter. Total operating expenses increased 2.4% year over year to $192.7 million.
The company exited first-quarter 2023 with average utilization of 97.6% compared with 99.6% in first-quarter 2022.
Triton repurchased 1.7 million shares in the first quarter of 2023.
TRTN’s board of directors has declared a quarterly cash dividend of 70 cents per share. The dividend will be paid out on Jun 22 to shareholders of record at the close of business on Jun 8.
Currently, Triton carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q1 Performance of Other Transportation Companies
J.B. Hunt Transport Services, Inc.’s (JBHT - Free Report) first-quarter 2023 earnings of $1.89 per share missed the Zacks Consensus Estimate of $2.04 and declined 17.5% year over year.
JBHT’s total operating revenues of $3,229.58 million lagged the Zacks Consensus Estimate of $3,434.4 million and fell 7.4% year over year. The downfall was due to declines in the volume of 25% in Integrated Capacity Solutions (ICS), 5% in Intermodal (JBI) and 17% in Final Mile Services (FMS). A decline of 17% in revenue per load in Truckload (JBT) added to the woes. Revenue declines in ICS, JBI, FMS and JBT were partially offset by Dedicated Contract Services revenue growth of 13%. JBHT’s total operating revenues, excluding fuel surcharges, decreased 10.2% year over year.
Delta Air Lines’ (DAL - Free Report) first-quarter 2023 earnings (excluding 82 cents from non-recurring items) of 25 cents per share missed the Zacks Consensus Estimate of 29 cents. Volatile fuel price and unfavorable weather conditions led to this downtick. DAL reported a loss of $1.23 per share a year ago as air-travel demand was not so buoyant back then.
DAL reported revenues of $12,759 million, which missed the Zacks Consensus Estimate of $12,767.4 million. However, driven by higher air-travel demand, total revenues increased 36.49% on a year-over-year basis.