Textainer Group Holdings (TGH) Tops Q4 EPS by 7c, Miss on Revenues

Note: EPS may not be comparable

Textainer Group Holdings (NYSE: TGH) reported Q4 EPS of $0.26, $0.07 better than the analyst estimate of $0.19. Revenue for the quarter came in at $129.31 million versus the consensus estimate of $133.35 million.

Financial and Business Summaries

• Lease rental income of $116.3 million for the quarter, an increase of $4.1 million, or 3.7 percent, from the prior quarter, and $444.9 million for the full year;
• Net income attributable to Textainer Group Holdings Limited common shareholders of $17.2 million for the quarter, or $0.30 per diluted common share, a $1.3 million decrease from the prior quarter. The decrease was largely due to an increase in third quarter net income resulting from a one-time $4.8 million tax benefit that largely reversed in the fourth quarter. Pre-tax income for the quarter increased by $4.3 million from the third quarter;
• Net income attributable to Textainer Group Holdings Limited common shareholders of $19.4 million for the full year, or $0.34 per diluted share, an increase of $71.8 million compared to 2016;
• Adjusted net income(1) of $14.8 million for the quarter, or $0.26 per diluted common share, a $3.8 million decrease from the prior quarter, and $23.2 million for the full year, or $0.41 per diluted share, an increase of $81.1 million from the prior year;
• Adjusted EBITDA(1) of $100.6 million for the quarter, an improvement of $0.1 million from the prior quarter, and $374.5 million for the full year, a $29.5 million year-on-year increase;
• Utilization averaged 97.4 percent for the quarter and is currently at 97.9 percent, an improvement of 70 basis points over the prior quarter average and 290 basis points over utilization at the start of 2017; and
• Capex orders of approximately $625 million during 2017.

For earnings history and earnings-related data on Textainer Group Holdings (TGH) click here.

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