Trinity Industries Bags $1.8B Multi-Year Railcar Order From GATX

Trinity Industries Inc TRN subsidiary, Trinity Rail Group LLC, has entered into a new long-term railcar supply agreement with GATX Corp GATX to deliver a mix of 15,000 newly built tank and freight railcars over six years.
GATX, a provider of railcar leasing and maintenance services, has the option to order an additional 500 railcars in each order year.
Under the agreement, Trinity will deliver 6,000 tank cars at a rate of 1,200 cars each year from 2024 through 2028.
The remaining 9,000 cars, which can be a mix of freight and tank cars, will be ordered at a rate of 1,500 cars per order year from 2023 to 2028.
Headquartered in Dallas, Texas, Trinity provides rail transportation products and services in North America.
Price Action: TRN shares are trading higher by 7.40% at $22.93 on the last check Monday.