Triton International Ltd. · NYSE:TRTN/PA
Triton International — Q3 2024 Earnings Presentation
13 slides from Triton International's earnings presentation, November 2024
Slide 1: Investor Presentation
Investor Presentation February 2023 November 2024 1
Slide 2: Disclaimers
Disclaimers Forward-Looking Statements Certain statements in this presentation, other than statements of historical facts, including statements regarding our strategy, future operations, future financial position, future revenues, future costs, prospects, plans and objectives of management are "forw
Slide 3: 3Q24 Overview
3Q24 Overview • Triton continued to achieve excellent operating performance in Q3 • Container demand supported by ongoing Red Sea disruptions and solid trade volumes • Dry container pick-up activity strong • Utilization in the ~99% range • Dry container drop-off volumes very low • Disposal activity
Slide 4: Key Operating Metrics
Key Operating Metrics Strong demand for dry containers has pushed fleet utilization near all-time highs coupled with a robust market for disposals TOTAL FLEET UTILIZATION (CEU)(1) NEW DRY CONTAINER PRICES 100% $4,000 $3,500 95% $3,000 90% $2,500 85% $2,000 $1,500 80% $1,000 75% $500 70% $0 (1) CEU i
Slide 5: Financial Highlights
Financial Highlights Track record of strong cash flow generation and profitability through cycles, with robust performance during COVID LEASING REVENUE(1) CASH FLOW BEFORE CAPEX(1)(2)(3) 1,800 1,800 ~7% CAGR 1,600 1,600 1,680 1,607 1,547 1,400 1,534 1,544 1,522 1,400 1,479 1,464 1,200 1,308 1,200 1,
Slide 6: Strong Lease Portfolio
Strong Lease Portfolio Well structured long-term lease portfolio limits re-leasing risk and generates strong cash flow LEASE PORTFOLIO (NBV) SUSTAINED BY EXTENDED LEASE DURATIONS(2)(3) 100 Avg remaining lease term of ~7 yrs(1) 3.7% 80 4.9% 6.7% 60 Months 40 20 Average Remaining Lease Term (NBV) Incl
Slide 7: Investment Grade Capital Structure
Investment Grade Capital Structure Conservatively capitalized balance sheet with strong cash flow coverage for upcoming maturities • Our balance sheet remains in great shape DIVERSIFIED AND CONSERVATIVE • Leverage in target range CAPITAL STRUCTURE (2)(3) • Credit metrics strong Common Equity Preferr
Slide 8: Summary
Summary • Container demand has been strong in 2024 • Triton is achieving outstanding operational and financial results • We continue to enhance Triton’s franchise and build our long-term cashflow engine • Triton’s balance sheet is in great shape • We look forward to continued engagement with investo
Slide 9: Appendix
airtel er Pambog PammhOe TRITON
Slide 10: Consolidated Statement of Adjusted Net Income
Consolidated Statement of Adjusted Net income(*) (In thousands) Q3 '24 Q2 '24 % Change Q3 '24 Q3 '23 % Change Total leasing revenues $ 391,319 $ 378,989 3.3% $ 391,319 $ 384,901 1.7% Depreciation and amortization 134,952 135,536 (0.4%) 134,952 141,438 (4.6%) Interest and debt expense 67,404 61,386 9
Slide 11: Non-GAAP Financial Information
Non-GAAP Financial Information We use the terms "Adjusted net income,“ “Adjusted return on equity,” “cash flow before capex”, and other non-GAAP financial measures throughout this presentation. These items are not presented in accordance with U.S. GAAP and should not be considered as alternatives to
Slide 12: Reconciliation of Non-GAAP Financial Measures: Adjusted Net Income and Adjusted Return on Equity
Reconciliation of Non-GAAP Financial Measures: Adjusted Net Income and Adjusted Return on Equity (In thousands, except earnings per share) Q1 '23 Q2 '23 Q3 '23 Q4 '23 2023 Total Q1 '24 Q2 '24 Q3 '24 Net income attributable to common shareholders $136,785 $128,734 $56,673 $99,785 $421,977 $112,515 $6
Slide 13: Reconciliation of Non-GAAP Financial Measures: Cash Flow Before Capex
Reconciliation of Non-GAAP Financial Measures: Cash Flow Before Capex (Excluding Certain Items) Cash Flow Before Capex (In thousands) LTM 09-'24 09-'24 Income (loss) before income taxes $ 523,644 $ 166,076 Add: Unrealized (gain) loss on derivative instruments, net 33 (7) Finance Lease Valuation Adju