Call Start: 08:30 January 1, 0000 9:21 AM ET

Triton International Limited (NYSE:TRTN)

Q1 2022 Earnings Conference Call

May 3, 2022, 8:30 am ET

Company Participants

John Burns - CFO

Brian Sondey - CEO

John O'Callaghan - Head, Global Marketing & Operations

Conference Call Participants

Michael Brown - KBW

Liam Burke - B. Riley FBR

Ken Hoexter - Bank of America

Larry Solow - CJS Securities

Operator

Good morning and welcome to the Triton International Limited First Quarter 2022 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions]. Please note, this event is being recorded.

I would now like to turn the conference over to John Burns, CFO. Please go ahead.

John Burns

Thank you, Nathan.

Good morning and thank you for joining us on today's call. We are here to discuss Triton's first quarter 2022 results which were reported this morning. Joining me on this morning's call from Triton is: Brian Sondey, our CEO; and John O'Callaghan, our Head of Global Marketing and Operations.

Before I turn the call over to Brian, I would like to note that our prepared remarks will follow along with a presentation that can be found in the Investors' section of our website under Investor presentations.

I'd like to direct you to Slide 2 of that presentation and remind you that today's presentation includes forward-looking statements that reflect Triton's current view with respect to future events, financial performance and industry conditions. These forward-looking statements are subject to various risks and uncertainties. Triton has provided additional information in its reports on file with the SEC concerning the factors that could cause actual results to differ materially from those contained in this presentation, and we encourage you to review these factors.

In addition, reconciliations of non-GAAP measures to the most directly comparable GAAP financial measures are included in our earnings release and the presentation.

With these formalities out of the way, I'll now turn the call over to Brian.

Brian Sondey

Thanks, John. And welcome to Triton International's first quarter 2022 earnings conference call.

I'll start with Slide 3 of our presentation. Triton achieved another quarter of record performance in the first quarter of 2022. We generated $2.76 of adjusted net income per share, an increase of 3.4% from the fourth quarter, and an increase of 45% from the first quarter of last year and we achieved an annualized return on equity of over 30%