Why Triton International Shares Were Up Today
Shares of Triton International (NYSE: TRTN) climbed 13% on Friday after the lessor of intermodal freight containers reported better-than-expected quarterly results. The company is holding up well despite pandemic-related challenges, and Wall Street is noticing.
Before markets opened on Friday, Triton International reported second-quarter adjusted earnings of $0.86 per share on revenue of $321.4 million, beating consensus estimates for $0.78 per share in earnings on $309 million in sales. Overall revenue held up well, down just 5% year over year.
The company confirmed that the pandemic and resulting economic shutdowns "have led to a significant decrease in global trade," saying that Triton customers estimate container transport volumes were down 15% year over year in the second quarter.
Source Fool.com
