Triton results

Triton International has reported results for the fourth quarter and full year ended December 31, 2017. Triton was formed on July 2016 through the merger of Triton Container International and TAL International Group.

Triton reported net income attributable to shareholders of $207m and pre-tax earnings of $87m for the fourth quarter of 2017.

Container utilisation averaged 98.3% for the fourth quarter of 2017 and averaged 96.9% for the full year 2017.

Triton declared a quarterly dividend of $0.45 per share payable on March 28, 2018 to shareholders of record as of March 12, 2018.

“Triton’s strong operating and financial performance in the fourth quarter of 2017 capped an outstanding year for the company,” commented Brian Sondey, Chairman and Chief Executive Officer of Triton International. “We generated $84.9m in adjusted pre-tax income during the fourth quarter, an increase of 16.3% from the third quarter of 2017, and we achieved improvements across all of our key operating metrics.”

Regarding Triton’s outlook, Brian continued: “We expect market conditions will remain favourable in 2018. Our customers are indicating they expect trade growth will remain solidly positive, and the supply of containers remains well controlled, with a moderate amount of new container inventory and very limited inventories of available used containers. Container prices remain in the range of $2,150 – $2,200, and we expect many of our shipping line customers will continue to rely heavily on leased containers for new additions to their fleets. Some of our competitors who did not invest in large numbers of containers in 2017 have started to invest more actively, and market lease rates for new dry container leasing transactions have moderated from where they were during the peak season of 2017.”

Triton International Limited is the parent of Triton Container International Limited and TAL International Group, Inc., each of which merged under Triton on July 12, 2016 to create the world’s largest lessor of intermodal freight containers and chassis. Triton operates a container fleet over five million twenty-foot equivalent units, and its global operations include acquisition, leasing, re-leasing and subsequent sale of multiple types of intermodal containers and chassis.

For more information, visit: www.ir.trtn.com

19th Mar 2018