Trinity Industries, Inc. Announces the Impact of Border Issues on Quarterly Deliveries
03 Oktober 2023 - 10:10PM
Business Wire
Trinity Industries, Inc. (NYSE:TRN) (“Trinity” or the “Company”)
today announced that the Company delivered 4,325 new railcars in
the third quarter. Deliveries were 685 units below the Company’s
third quarter projection due to the closing of the U.S.-Mexico
border by the U.S. Customs and Border Protection Agency (“CBP”). In
addition, increased state vehicle inspections have resulted in
truck traffic congestion, negatively impacting the Company’s supply
chain. Continued rail and truck congestion at the border will
negatively impact the Company’s deliveries and supply chain until
the congestion is resolved. Trinity is actively monitoring rail and
truck traffic as both continue to be impacted.
On September 20, 2023, the CBP suspended U.S. bound cross-border
rail traffic in Eagle Pass, Texas, the primary border crossing
Trinity uses for railcar deliveries from its manufacturing
facilities in Sabinas and Monclova, Mexico. According to the CBP,
this action was taken to assist U.S. Border Patrol due to the
recent influx of migrants at the border. While rail traffic
operations resumed on September 23, there are still substantial
congestion and rail traffic challenges.
Trinity remains in close contact with all stakeholders,
including the relevant government agencies, and continues to
evaluate available alternatives for rail and truck transportation
between Mexico and the United States. Trinity will provide an
update on the situation and its financial impact on the Company’s
third quarter earnings call, scheduled for November 2, 2023.
About Trinity Industries
Trinity Industries, Inc., headquartered in Dallas, Texas, owns
businesses that are leading providers of rail transportation
products and services in North America. Our businesses market their
railcar products and services under the trade name TrinityRail®.
The TrinityRail platform provides railcar leasing and management
services, as well as railcar manufacturing, maintenance and
modifications. Trinity reports its financial results in two
reportable segments: the Railcar Leasing and Management Services
Group and the Rail Products Group. For more information, visit:
www.trin.net.
Some statements in this release, which are not historical facts,
are “forward-looking statements” as defined by the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include statements about Trinity's estimates,
expectations, beliefs, intentions or strategies for the future, and
the assumptions underlying these forward-looking statements,
including, but not limited to, future financial and operating
performance, future opportunities and any other statements
regarding events or developments that Trinity believes or
anticipates will or may occur in the future. Trinity uses the words
“anticipates,” “assumes,” “believes,” “estimates,” “expects,”
“intends,” “forecasts,” “may,” “will,” “should,” “guidance,”
“projected,” “outlook,” and similar expressions to identify these
forward-looking statements. Forward-looking statements speak only
as of the date of this release, and Trinity expressly disclaims any
obligation or undertaking to disseminate any updates or revisions
to any forward-looking statement contained herein to reflect any
change in Trinity’s expectations with regard thereto or any change
in events, conditions or circumstances on which any such statement
is based, except as required by federal securities laws.
Forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from historical
experience or our present expectations, including but not limited
to risks and uncertainties regarding economic, competitive,
governmental, and technological factors affecting Trinity’s
operations, markets, products, services and prices, and such
forward-looking statements are not guarantees of future
performance. For a discussion of such risks and uncertainties,
which could cause actual results to differ from those contained in
the forward-looking statements, see “Risk Factors” and
“Forward-Looking Statements” in Trinity’s Annual Report on Form
10-K for the most recent fiscal year, as may be revised and updated
by Trinity’s Quarterly Reports on Form 10-Q, and Trinity’s Current
Reports on Form 8-K.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231003192041/en/
Investor Contact: Leigh Anne
Mann Vice President, Investor Relations Trinity Industries, Inc.
(Investors) 214/631-4420
Media Contact: Jack L. Todd
Vice President, Public Affairs Trinity Industries, Inc. (Media
Line) 214/589-8909
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