Filing Flows › Trinity Industries (TRN) › Q4 2025
Trinity Industries (TRN) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 19, 2026
Trinity Industries (TRN) reported revenue of $611M for the fourth quarter 2025 (Q4 2025), -3% from a year earlier and +35% from the quarter before. Operating margin was 54.9%, net earnings $187M (30.5% of revenue).
Trinity Industries, Q4 2025: revenue $611M (-3% year over year), operating margin 54.9%, net earnings $187M, operating cash flow $177M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $611M | +35% | -3% |
| Operating profit | $335M | +183% | +199% |
| Net earnings | $187M | +516% | +546% |
| Operating cash flow | $177M | +301% | -12% |
| Free cash flow | $159M | +349% | -12% |
What changed
Revenue was $611.2M in Q4 2025, down 3% year over year and up 35% from the previous quarter. Railcar Leasing and Services Group was the largest line at 51% of revenue. Manufacturing lost $46.1M year over year (down 13%), 253% of the total change.
Operating profit was $335.4M, a 54.9% margin (up 37.1 points year over year). Total costs fell 47% while revenue fell 3%. Net earnings were $186.6M, up 546% year over year. The effective tax rate was 26.0%.
Operating cash flow was $177.4M (down 12% year over year), 91% of net income including minority interests. Non-cash charges added back $78.7M of depreciation and amortization and $6.3M of share-based compensation. Working capital and other items used $101.8M. Capital expenditures of $18.8M left free cash flow of $158.6M.
Questions
What was Trinity Industries' revenue in the fourth quarter 2025?
Trinity Industries (TRN) reported revenue of $611M for the fourth quarter 2025 (Q4 2025), -3% from a year earlier and +35% from the quarter before.
Was Trinity Industries profitable in the fourth quarter 2025?
Operating profit was $335M (54.9% of revenue) and net earnings $187M.
Source: Trinity Industries 10-K on SEC EDGAR.