Textainer Group Holdings reports Q4 and full year results

Textainer Group Holdings reports Q4 and full year results


Textainer Group Holdings Limited has reported fourth-quarter and full-year 2017 results.

Highlights include: lease rental income of $116.3m for the quarter, an increase of $4.1m, or 3.7%, from the prior quarter, net income of $17.2m for the quarter and net income attributable to Textainer Group Holdings Limited shareholders of $19.4m for the full year.

TC - Textainer copy

President and Chief Executive Officer of Textainer Group Holdings Limited, Philip K. Brewer said: “We continue to see strong operating results and positive momentum leading into the new year. Lease rental income increased for the fourth consecutive quarter and is up 8% compared to the first quarter of the year as we benefit from new container investments and further improvements in utilization. The impact of these investments will grow going forward as more new containers are delivered and picked up by our customers.

“Strong earnings momentum continued as reflected in our $4.3 million increase in pre-tax profit. We expect the favorable market conditions we are seeing to continue into 2018, mostly driven by solid trade growth, shipping lines preference to lease, and minimal depot inventory. Yields on new leases have moderated slightly but remain attractive and container prices are holding stable at approximately $2,200. Inventory at the factories has risen to approximately 700,000 TEU, though much of this inventory is already committed to leases and the remainder is appropriate to meet upcoming second quarter demand. Additionally, resale prices have remained high as expected given stable new box prices as well as low depot inventory and container turn-ins.”

For more information visit www.textainer.com

26th Feb 2018

Intermodal Telematics BV_Townhouse_269x279