Trinity Industries, Inc. (NYSE:TRN) Q3 2023 Earnings Conference Call November 2, 2023 8:00 AM ET
Company Participants
Leigh Mann - VP, IR
Jean Savage - President, CEO & Director
Eric Marchetto - EVP & CFO
Conference Call Participants
Allison Poliniak - Wells Fargo Securities
Justin Long - Stephens Inc.
Bascome Majors - Susquehanna Financial Group
Matthew Elkott - TD Cowen
Operator
Good day, and welcome to the Trinity Industries Third Quarter and 9 months ended September 30, 2023 Results Conference Call. [Operator Instructions]. Please note this event is being recorded.
Before we get started, let me remind you that today's conference call contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995 and include statements as to estimates, expectations, intentions and predictions of future financial performance. Statements that are not historical facts are forward-looking. Participants are directed to Trinity's Form 10-K and other SEC filings for a description of certain business issues and risks, a change in any of which could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements.
I would now like to turn the conference over to Leigh Mann, Vice President of Investor Relations. Please go ahead.
Leigh Mann
Thank you, operator. Good morning, everyone. We appreciate you joining us for the company's Third quarter 2023 Financial Results Conference Call. Our prepared remarks will include comments from Jean Savage, Trinity's Chief Executive Officer and President; and Eric Marketo, the company's Chief Financial Officer. We will hold a Q&A session following the prepared remarks from our leaders. .
During the call today, we will reference slides highlighting key points of discussion and certain non-GAAP financial metrics. The reconciliations of the non-GAAP metrics to comparable GAAP measures are provided in the appendix of the supplemental slides, which are accessible on our Investor Relations website at www.trin.net. These slides are under the Events and Presentations portion of the website, along with the third quarter earnings conference call of . A replay of today's call will be available after 10:30 a.m. Eastern Time through midnight on November 7, 2023. Replay information is available under the Events and Presentations page on our Investor Relations website.
It is now my pleasure to turn the call over to Gene.
Jean Savage
Thank you, , and good morning, everyone. I'll start my prepared comments on Slide 3 with key messages we want to convey during this morning's call. Trinity's third quarter results reflect significantly stronger performance with revenue growth of 65% compared to a year ago. We believe we are on a good path to end 2023 with favorable financial performance and continued improvement. In the quarter, we continued to experience strength in our leasing segment. with fleet utilization of 98.1% and have confidence that lease rates will continue to rise given that our future lease rate differential or FLRD of 26.6% and continuing favorable railcar supply fundamentals.