Filing Flows › Trinity Industries (TRN) › Q3 2026 › vs Q2 2026
Trinity Industries (TRN) Q3 2026 vs Q2 2026 (quarter over quarter)
Trinity Industries's revenue rose $50.0M (+10%) from $485M in Q2 2026 to $535M in Q3 2026. The biggest changes: Manufacturing +$44.6M (+22%); Leasing & Services +$5.4M (+2%). Operating margin 17.9% against 41.2% (-23.3 pts).
Trinity Industries, Q3 2026: revenue $535M (+18% year over year), operating margin 17.9%, net earnings $17.6M, operating cash flow $66.3M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 17.9% | 41.2% | -23.3 pts |
| Net margin | 3.3% | 20.3% | -17.0 pts |
| Free cash flow margin | 9.3% | 11.8% | -2.5 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Leasing & Services | $286M | $281M | $5.4M | +2% |
| Manufacturing | $249M | $204M | $44.6M | +22% |
| Revenue | $535M | $485M | $50.0M | +10% |
| Operating profit | $95.6M | $200M | −$104M | -52% |
| Costs & expenses | $440M | $285M | $154M | +54% |
| Pre-tax earnings | $26.3M | $130M | −$104M | -80% |
| Other expense, net | $69.3M | $69.7M | −$400K | -0.6% |
| Loss borne by minority interests | $100K | $0 | $100K | — |
| Net earnings | $17.6M | $98.3M | −$80.7M | -82% |
| Income tax | $8.8M | $31.8M | −$23.0M | -72% |
| Operating cash sources | $94.4M | $175M | −$80.9M | -46% |
| Depreciation & amortization | $70.5M | $71.5M | −$1.0M | -1% |
| Share-based compensation | $6.3M | $5.5M | $800K | +15% |
| Working capital & other | $28.1M | $106M | −$78.3M | -74% |
| Operating cash flow | $66.3M | $68.9M | −$2.6M | -4% |
| Free cash flow (OCF − capex) | $49.6M | $57.2M | −$7.6M | -13% |
| Capital expenditures | $16.7M | $11.7M | $5.0M | +43% |
Questions
How much did Trinity Industries's revenue grow quarter over quarter in Q3 2026?
Trinity Industries's revenue rose $50.0M (+10%) from $485M in Q2 2026 to $535M in Q3 2026.
What drove Trinity Industries's revenue change in Q3 2026?
Manufacturing +$44.6M (+22%); Leasing & Services +$5.4M (+2%).