Filing Flows › Trinity Industries (TRN) › Q2 2025
Trinity Industries (TRN) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
Trinity Industries (TRN) reported revenue of $506M for the second quarter 2025 (Q2 2025), -40% from a year earlier and -14% from the quarter before. Operating margin was 18.8%, net earnings $14.1M (2.8% of revenue).
Trinity Industries, Q2 2025: revenue $506M (-40% year over year), operating margin 18.8%, net earnings $14.1M, operating cash flow $61.6M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $506M | -14% | -40% |
| Operating profit | $95.4M | -4% | -33% |
| Net earnings | $14.1M | -36% | -74% |
| Operating cash flow | $61.6M | -19% | -74% |
| Free cash flow | $52.9M | -21% | -77% |
What changed
Revenue was $506.2M in Q2 2025, down 40% year over year and down 14% from the previous quarter. Leasing & Services was the largest line at 60% of revenue. Manufacturing lost $356.8M year over year (down 64%), 106% of the total change.
Operating profit was $95.4M, a 18.8% margin (up 2.0 points year over year). Total costs fell 41% while revenue fell 40%. Net earnings were $14.1M, down 74% year over year. The effective tax rate was 17.0%.
Operating cash flow was $61.6M (down 74% year over year), 308% of net income including minority interests. Non-cash charges added back $75.2M of depreciation and amortization and $5.4M of share-based compensation. Working capital and other items used $39.0M. Capital expenditures of $8.7M left free cash flow of $52.9M.
Questions
What was Trinity Industries' revenue in the second quarter 2025?
Trinity Industries (TRN) reported revenue of $506M for the second quarter 2025 (Q2 2025), -40% from a year earlier and -14% from the quarter before.
Was Trinity Industries profitable in the second quarter 2025?
Operating profit was $95.4M (18.8% of revenue) and net earnings $14.1M.
Source: Trinity Industries 10-Q on SEC EDGAR.