- Textainer Group (TGH +8.3%) reports Q2 lease rental income of $144.8M (-7.3% Y/Y), beating analyst estimates.
- Net income equaled ~$16M or EPS of $0.30.
- Adjusted net income of $14.78 or non-Gaap EPS of $0.28
- Adjusted EBITDA of ~$110M, almost in-line with the previous year.
- Average fleet utilization of 95.4% vs. 96.2% last year.
- Lease rental income decreased $0.7M from last quarter, due to a slight reduction in utilization
- Container investments of ~$190M delivered through the first six months of the year.
- Direct container expense increased $2M from Q1 2020, mostly due to the higher storage costs and handling expense resulting from slightly lower utilization.
- Repurchased ~1.63M shares at an average price of $8.33
- Earnings call presentation
- Previously: Textainer Group Holdings EPS beats by $0.23, beats on revenue (Aug. 13)
Textainer Group +8% after Q2 earnings
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TGH | - | - |
Textainer Group Holdings Limited |