Filing Flows › Trinity Industries (TRN) › Q1 2026
Trinity Industries (TRN) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Trinity Industries (TRN) reported revenue of $492M for the first quarter 2026 (Q1 2026), -16% from a year earlier and -20% from the quarter before. Operating margin was 20.5%, net earnings $24.2M (4.9% of revenue).
Trinity Industries, Q1 2026: revenue $492M (-16% year over year), operating margin 20.5%, net earnings $24.2M, operating cash flow $97.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $492M | -20% | -16% |
| Operating profit | $101M | -70% | +1% |
| Net earnings | $24.2M | -87% | +10% |
| Operating cash flow | $97.8M | -45% | +28% |
| Free cash flow | $91.5M | -42% | +36% |
What changed
Revenue was $492.0M in Q1 2026, down 16% year over year and down 20% from the previous quarter. Leasing & Services was the largest line at 58% of revenue. Manufacturing lost $91.5M year over year (down 31%), 98% of the total change.
Operating profit was $101.1M, a 20.5% margin (up 3.5 points year over year). Total costs fell 20% while revenue fell 16%. Net earnings were $24.2M, up 10% year over year. The effective tax rate was 25.5%.
Operating cash flow was $97.8M (up 28% year over year), 394% of net income including minority interests. Non-cash charges added back $72.6M of depreciation and amortization and $4.9M of share-based compensation. Capital expenditures of $6.3M left free cash flow of $91.5M.
Questions
What was Trinity Industries' revenue in the first quarter 2026?
Trinity Industries (TRN) reported revenue of $492M for the first quarter 2026 (Q1 2026), -16% from a year earlier and -20% from the quarter before.
Was Trinity Industries profitable in the first quarter 2026?
Operating profit was $101M (20.5% of revenue) and net earnings $24.2M.
Source: Trinity Industries 10-Q on SEC EDGAR.