Filing Flows › Trinity Industries (TRN) › Q3 2025
Trinity Industries (TRN) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
Trinity Industries (TRN) reported revenue of $454M for the third quarter 2025 (Q3 2025), -43% from a year earlier and -10% from the quarter before. Operating margin was 26.1%, net earnings $30.3M (6.7% of revenue).
Trinity Industries, Q3 2025: revenue $454M (-43% year over year), operating margin 26.1%, net earnings $30.3M, operating cash flow $44.2M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $454M | -10% | -43% |
| Operating profit | $119M | +24% | -3% |
| Net earnings | $30.3M | +115% | -4% |
| Operating cash flow | $44.2M | -28% | -44% |
| Free cash flow | $35.3M | -33% | -43% |
What changed
Revenue was $454.1M in Q3 2025, down 43% year over year and down 10% from the previous quarter. Leasing & Services was the largest line at 66% of revenue. Manufacturing lost $356.3M year over year (down 70%), 103% of the total change.
Operating profit was $118.6M, a 26.1% margin (up 10.8 points year over year). Total costs fell 50% while revenue fell 43%. Net earnings were $30.3M, down 4% year over year. The effective tax rate was 23.6%.
Operating cash flow was $44.2M (down 44% year over year), 123% of net income including minority interests. Non-cash charges added back $76.9M of depreciation and amortization and $5.9M of share-based compensation. Working capital and other items used $74.6M. Capital expenditures of $8.9M left free cash flow of $35.3M.
Questions
What was Trinity Industries' revenue in the third quarter 2025?
Trinity Industries (TRN) reported revenue of $454M for the third quarter 2025 (Q3 2025), -43% from a year earlier and -10% from the quarter before.
Was Trinity Industries profitable in the third quarter 2025?
Operating profit was $119M (26.1% of revenue) and net earnings $30.3M.
Source: Trinity Industries 10-Q on SEC EDGAR.