Trinity Industries

Trinity Industries eyes better market conditions in second half of 2021

A photograph of a tank car and two railcars parked in a rail yard.

Although market conditions are improving for Trinity Industries (NYSE: TRN), the railcar lessor and rail equipment manufacturer anticipates persistent headwinds through the first half of 2021 as prospective customers take a wait-and-see approach to gauging market demand.

“Market uncertainty as it relates to COVID-19 remains the predominant story on the economic and rail industry outlook. We see early indicators of a recovery with improving year over year railcar traffic volumes, slowing train...

https://www.freightwaves.com/news/trinity-industries-eyes-better-market-conditions-in-second-half-of-2021

OSHA cites TrinityRail for 2 August deaths at Oklahoma facility

A photograph of tank cars parked in a rail yard.

The Occupational Safety and Health Administration (OSHA) has cited TrinityRail and Maintenance Services over an August 2020 incident that resulted in two fatalities.

OSHA is suggesting $419,347 in penalties, and it cited Trinity for 11 serious violations and two willful violations for not following federal safety standards for working in confined spaces. 

On Aug. 12, a Trinity employee in Hugo, Oklahoma, was seeking to clean a tank car used to carry natural gasoline, according to OSHA. A second...

https://s29755.pcdn.co/news/osha-cites-trinityrail-for-2-august-deaths-at-oklahoma-facility

TrinityRail permanently closing plant in Texas

Trinity Industries (NYSE: TRN) will permanently close a plant in Vidor, Texas, laying off 59 workers by April 30, according to a notice sent to state officials Tuesday.

Company officials said the facility’s closure is due to declining demand for railcars and maintenance services.

“As a result of the downturn in the rail maintenance sector, the number of orders for modifications and/or maintenance has significantly decreased,” Matt Tribolet, senior counsel for TrinityRail Maintenance Services,...

https://www.freightwaves.com/news/trinityrail-permanently-closing-plant-in-texas

Rail Roundup: TrinityRail rolls out tech platform; CP, Teamsters reach deal

A photograph of tank cars parked in a rail yard.TrinityRail offers new tech platform, acquires tank car maintenance provider

Trinity Industries’ (NYSE: TRN) arm TrinityRail has announced two new service offerings: a technology platform aimed at helping North American rail shippers track railcar fleets and the acquisition of Bay Worx Rail, a company that uses advanced robotics to clean tank cars.

The technology platform, Trinsight, will provide real-time intelligence of the location, conditions and status of rail equipment, TrinityRail said....

https://www.freightwaves.com/news/rail-roundup-trinityrail-rolls-out-tech-platform-cp-teamsters-reach-deal

Trinity Industries pinpoints focus on rail

A photograph of a tank car parked in a rail yard.

Railcar lessor and rail product manufacturer Trinity Industries (NYSE: TRN) will focus exclusively on servicing the rail industry as the company seeks to shore up its financial well-being.

The change comes as the company abruptly ended its trucking business earlier this month. Trinity also ended a logistics business.

Trinity has three goals for its new strategic framework to lower its financial breakeven point. Those goals are to optimize its railcar lease fleet, reduce the impact of cyclicality...

https://www.freightwaves.com/news/trinity-industries-pinpoints-focus-on-rail

Breaking News: Texas trucking company closes its doors, sources say

Trinity Logistics Group ceases operations

Texas-based trucking company Trinity Logistics Group is ceasing operations due to “lack of work” in an abrupt closure that left some drivers blindsided, sources close to the company told FreightWaves. 

Drivers were told of the closure in a Sept. 28 conference call, sources told FreightWaves on Saturday. Dallas-based Trinity Logistics Group is a wholly-owned subsidiary of Trinity Industries, Inc. (NYSE: TRN.)

All of the equipment had been slated to be returned to the company’s headquarters on...

https://s29755.pcdn.co/news/breaking-news-texas-trucking-company-closes-its-doors-sources-say

Frac sand losses hit Trinity’s bottom line

A photograph of a row or Trinity-manufactured tank cars.

Trinity Industries’ (NYSE: TRN) exposure to the financial troubles in the frac sand sector hurt the company’s second-quarter net profits.

The railcar manufacturer and lessor reported an operating loss of $307.3 million, or $1.76 per diluted share, in the second quarter of 2020, versus operating profit of $107 million, or 29 cents per diluted share, for the same period in 2019.

A $369.4 million noncash impairment charge related to the small cube covered hoppers used by several frac sand companies...

https://www.freightwaves.com/news/frac-sand-losses-hit-trinitys-bottom-line

Headwinds put pressure on Trinity’s leasing rates

A photograph of two hopper cars for the railroad.

Rates to lease railcars will likely face continued headwinds throughout the year given the drop in railcar loadings, Trinity (NYSE: TRN) executives said during the company’s first-quarter earnings call Thursday.

“Right now, we’re focused more on utilization to the extent that railcars are needed,” said Eric Marchetto, chief financial officer for Trinity, a railcar manufacturer and lessor. If a customer doesn’t need the cars, then there might not be a rate that would maintain that leasing...

https://www.freightwaves.com/news/headwinds-put-pressure-on-trinitys-leasing-rates

Trinity Industries completes spinoff of Arcosa

A barge launched by Trinity Marine Group. Trinity Marine photo.

Dallas-based Trinity Industries, Inc. (NYSE: TRN) (“Trinity”), announced Thursday that it has completed the separation of its infrastructure-related business, Arcosa, Inc. (“Arcosa”), a growth-oriented manufacturer of infrastructure-related products and services with leading positions in construction, energy, and transportation markets.

Trinity, a diversified industrial company that provides products and services to the energy, chemical, agricultural, transportation and construction sectors,...

https://www.workboat.com/news/shipbuilding/trinity-industries-completes-spinoff-of-arcosa/

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