Trinity Industries, Inc. (TRN) Income Statement
TRN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTRN revenue and net income
Where TRN's revenue goes
2025Each bar shows an amount and its share of revenue. TRN kept 11.7% of revenue as net income.
TRN profit margins
TRN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −30.0% | +2.9% | +4.3% | −10.3% |
| Gross profit | −14.3% | +15.9% | +6.3% | −10.5% |
| Operating income | −27.1% | +2.4% | — | −13.0% |
| Net income | +82.9% | +61.5% | — | −10.8% |
| EPS (diluted) | +81.1% | +49.4% | +56.3% | −4.6% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TRN quarterly EPS vs estimates
Trinity Industries beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: October 29, 2026 (estimate $0.27).
TRN income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.16B | $3.08B | $2.98B | $1.98B | $1.52B | $1.75B | $2.75B | $2.51B | $3.66B | $4.59B |
| Cost of revenue | $1.58B | $2.41B | $2.46B | $1.61B | $1.16B | $1.33B | $2.18B | $1.94B | $2.75B | $3.46B |
| Gross profit | $572.7M | $668.2M | $527.1M | $367.7M | $354.5M | $422.3M | $574.0M | $570.3M | $917.3M | $1.13B |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $214.3M | $235.7M | $201.9M | $185.4M | $179.0M | $341.1M | $217.0M | $296.6M | $454.8M | $407.4M |
| Total operating expenses | $214.3M | $176.7M | $110.1M | $33.7M | $97.7M | $576.9M | $177.2M | $296.6M | $454.8M | $407.4M |
| Operating income | $358.4M | $491.5M | $417.0M | $334.0M | $256.8M | −$154.6M | $396.8M | $315.1M | $549.1M | $742.2M |
| Interest income | $272.8M | $273.5M | $265.5M | $207.6M | $191.4M | $3.2M | $7.3M | $11.9M | $10.6M | $5.4M |
| Interest expense | $274.2M | $273.5M | $265.5M | $209.1M | $191.4M | $216.0M | $221.8M | $179.3M | $184.0M | $181.9M |
| Income before taxes | $375.4M | $221.8M | $149.0M | $126.5M | $55.2M | −$524.6M | $181.2M | $151.6M | $372.0M | $566.8M |
| Income taxes | $90.9M | $50.4M | $9.0M | $27.6M | $15.9M | −$274.1M | $58.8M | $42.6M | −$341.6M | $202.1M |
| Net income | $253.1M | $138.4M | $106.0M | $60.1M | $182.0M | −$147.3M | $137.6M | $159.3M | $702.5M | $343.6M |
| EBITDA | $954.7M | $789.1M | $707.7M | $612.0M | $512.3M | −$55.1M | $672.2M | $584.7M | $609.1M | $1.03B |
| EPS (diluted) | $3.17 | $1.75 | $1.38 | $0.95 | $0.59 | $0.34 | $1.27 | $1.43 | $1.49 | $2.25 |
| Gross margin | 26.6% | 21.7% | 17.7% | 18.6% | 23.4% | 24.1% | 20.9% | 22.7% | 25.0% | 24.7% |
| Operating margin | 16.6% | 16.0% | 14.0% | 16.9% | 16.9% | −8.8% | 14.4% | 12.6% | 15.0% | 16.2% |
| Net margin | 11.7% | 4.5% | 3.6% | 3.0% | 12.0% | −8.4% | 5.0% | 6.3% | 19.2% | 7.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $485.1M | $492.0M | $611.2M | $454.1M | $506.2M | $585.4M | $629.4M | $798.8M | $841.4M | $809.6M | $797.9M | $821.3M |
| Cost of revenue | $375.2M | $363.1M | $458.3M | $313.9M | $370.9M | $438.5M | $474.4M | $629.3M | $665.5M | $646.4M | $637.0M | $679.5M |
| Gross profit | $109.9M | $128.9M | $152.9M | $140.2M | $135.3M | $146.9M | $155.0M | $169.5M | $179.0M | $163.2M | $160.9M | $141.8M |
| Sales, general & admin | $51.1M | $50.7M | $69.7M | $45.2M | $49.4M | $50.0M | $61.6M | $60.5M | $61.3M | $52.3M | $49.9M | $49.1M |
| Total operating expenses | $51.1M | $50.7M | $69.7M | $45.2M | $49.4M | $50.0M | $43.0M | $47.1M | $37.1M | $52.3M | $12.2M | $41.6M |
| Operating income | $58.8M | $78.2M | $83.2M | $95.0M | $85.9M | $96.9M | $112.0M | $122.4M | $141.9M | $110.9M | $148.7M | $100.2M |
| Interest income | — | — | $70.0M | $69.8M | $67.7M | $66.1M | $66.9M | $67.4M | — | — | — | $68.8M |
| Interest expense | $64.3M | $65.4M | $62.4M | $69.8M | $67.7M | $66.1M | $66.9M | $67.4M | $70.1M | $69.1M | $67.7M | $68.8M |
| Income before taxes | $134.0M | $35.1M | $264.8M | $48.2M | $26.0M | $36.4M | $47.5M | $56.4M | $75.2M | $42.7M | $80.5M | $32.3M |
| Income taxes | $31.8M | $8.5M | $68.3M | $11.1M | $4.1M | $7.4M | $6.7M | $15.6M | $17.1M | $11.0M | $7.1M | $6.0M |
| Net income | $102.2M | $24.2M | $186.6M | $30.3M | $14.1M | $22.1M | $28.9M | $31.4M | $54.4M | $23.7M | $62.8M | $21.8M |
| EBITDA | $269.8M | $173.1M | $405.9M | $194.9M | $168.9M | $176.8M | $188.0M | $196.8M | $219.1M | $185.8M | $221.5M | $174.2M |
| EPS (diluted) | −$0.36 | $0.32 | $2.31 | $0.38 | $0.19 | $0.29 | $0.39 | $0.37 | $0.66 | $0.33 | $0.82 | $0.26 |
| Gross margin | 22.7% | 26.2% | 25.0% | 30.9% | 26.7% | 25.1% | 24.6% | 21.2% | 21.3% | 20.2% | 20.2% | 17.3% |
| Operating margin | 12.1% | 15.9% | 13.6% | 20.9% | 17.0% | 16.6% | 17.8% | 15.3% | 16.9% | 13.7% | 18.6% | 12.2% |
| Net margin | 21.1% | 4.9% | 30.5% | 6.7% | 2.8% | 3.8% | 4.6% | 3.9% | 6.5% | 2.9% | 7.9% | 2.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TRN's financial statements (latest annual report filed February 19, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TRN financial results
In fiscal year 2025 (ended December 31, 2025), Trinity Industries reported revenue of $2.2 billion, down 30.0% from the year before. It had net income of $253.1 million (up 82.9%), a net profit margin of 11.7%. Diluted earnings per share came to $3.17. Over five years revenue grew at an average rate of 4.3% a year.
See the TRN stock overview for the latest quote and news, or the TRN chart for price history and technical indicators.
TRN income statement FAQ
What is Trinity Industries's annual revenue?
Trinity Industries reported total revenue of $2.2 billion for fiscal year 2025, which ended on December 31, 2025. That was down 30.0% from $3.1 billion the previous year.
Is Trinity Industries profitable?
Yes. Trinity Industries reported net income of $253.1 million in fiscal 2025, a net profit margin of 11.7%; its operating margin was 16.6%.
What is Trinity Industries's gross margin?
Trinity Industries's gross margin was 26.6% in fiscal 2025: for every $100 of revenue, Trinity Industries kept $27 after the direct cost of its products and services.
How fast is Trinity Industries growing?
Revenue grew 4.3% a year on average over the last five fiscal years, from $1.7 billion to $2.2 billion.
What are Trinity Industries's earnings per share?
Trinity Industries earned $3.17 per diluted share in fiscal 2025, compared with $1.75 a year earlier.
When will Trinity Industries report its next earnings?
Trinity Industries is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 before the market opens.
When does Trinity Industries's fiscal year end?
Trinity Industries's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 19, 2026.