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Textainer Group Holdings Limited - TGH STOCK NEWS

Welcome to our dedicated page for Textainer Group Holdings news (Ticker: TGH), a resource for investors and traders seeking the latest updates and insights on Textainer Group Holdings stock.

Textainer Group Holdings Limited (NYSE: TGH, JSE: TXT) is one of the world’s largest lessors of intermodal containers, a position it has held since its inception in 1979. The company manages a substantial fleet of over 4 million TEU (twenty-foot equivalent units), leasing containers to approximately 200 customers, including leading international shipping lines and various other lessees.

Textainer's extensive fleet encompasses standard dry freight, refrigerated intermodal containers, and dry freight specials. Additionally, through a strategic partnership with Trifleet Leasing, the company also leases tank containers and supplies containers to the U.S. Military. This diverse range of assets emphasizes Textainer's crucial role in global trade and logistics.

The company operates via a global network of 14 offices and approximately 400 independent depots, ensuring comprehensive service coverage. Textainer’s business model includes not only leasing but also the purchase and sale of new and used containers. Annually, the company invests over $1 billion in new container purchases and sells up to 100,000 used containers to more than 1,100 customers, making it a significant player in both segments.

Financially, Textainer has demonstrated stable performance. For the third quarter, utilization stood at an impressive 99.1%, with lease rental income steady at $192 million and adjusted net income at $45 million, or $1.08 per diluted common share. The company’s long-term lease contracts and fixed-rate financing policies provide a solid foundation for sustained revenue and profitability.

In recent corporate developments, Textainer has entered into a definitive agreement to be acquired by Stonepeak, an alternative investment firm specializing in infrastructure and real assets, for $50.00 per share in cash. This acquisition, expected to close in the first quarter of 2024, underscores the intrinsic value of Textainer's business and is set to provide significant benefits to its shareholders and customers alike.

Post-acquisition, Textainer’s President and CEO, Olivier Ghesquiere, will continue to lead the company, which will remain headquartered in Hamilton, Bermuda. The company also plans to maintain its current quarterly dividends on both common and preference shares prior to the transaction’s completion.

Key Financial Highlights: For the second quarter of 2023, Textainer reported a utilization rate of 98.8% and lease rental income of $192 million. Adjusted net income was $51 million or $1.20 per diluted common share. These metrics reflect Textainer’s ongoing operational efficiency and robust market position.

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Stonepeak completes acquisition of Textainer Group Holdings Limited, a major lessor of intermodal containers, aiming to enhance customer service and global growth.
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Textainer Group Holdings Limited (NYSE: TGH) completes acquisition by Stonepeak, delists from NYSE, and redeems Preference Shares.
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Textainer Group Holdings Limited (TGH) shareholders have approved the acquisition of Textainer by Stonepeak, with each common shareholder set to receive $50.00 per share. The acquisition will also involve the conversion and redemption of Textainer's preference shares. The transaction is expected to close within 120 days.
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Textainer Group Holdings Limited (NYSE: TGH) reported unaudited financial results for Q4 and full-year 2023. Despite a decrease in lease rental income, the company showed strong performance with increased fleet utilization and adjusted net income. The pending acquisition by Stonepeak and dividend declarations were notable highlights.
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Textainer Group Holdings Limited (NYSE: TGH; JSE: TXT) has announced a special meeting of shareholders to approve its acquisition by Stonepeak, a leading investment firm. The meeting is scheduled for February 22, 2024, and will be held in Bermuda. Shareholders entitled to vote consist of holders of Textainer’s common and preference shares listed on the NYSE and JSE.
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Valo Health, Inc (Valo) appoints Lisa P. Young, former Ernst & Young Senior Partner, as Chair of Audit Committee
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Textainer Group Holdings Limited (TGH) announced the expiration of the 30-day 'go-shop' period under the terms of the definitive agreement to be acquired by Stonepeak for $7.4 billion. The transaction is expected to close in the first quarter of 2024, making Textainer a private company.
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Textainer Group Holdings Limited (NYSE: TGH; JSE: TXT) reported financial results for Q3 2023. Total lease rental income was $192.5 million, gain on sale of owned fleet containers was $5.2 million, and income from operations was $92.2 million. Net income attributable to common shareholders was $44.7 million, with a diluted EPS of $1.07. Adjusted net income was $45.4 million, with an adjusted diluted EPS of $1.08. Adjusted EBITDA was $160.5 million. Average fleet utilization was 99.0%. Textainer announced an agreement to be acquired by Stonepeak and has suspended its share repurchase program. Cash dividends were declared for preferred and common shares.
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Textainer Group Holdings will release its Q3 2023 financial results on November 2, 2023. The company has entered into a definitive agreement to be acquired by Stonepeak.
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Textainer Group Holdings Limited has entered into a definitive agreement to be acquired by Stonepeak. Shareholders will receive $50.00 per share in cash, totaling approximately $2.1 billion. The purchase price represents a premium of approximately 46% over Textainer's closing share price on October 20, 2023.
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FAQ

What is the market cap of Textainer Group Holdings (TGH)?

The market cap of Textainer Group Holdings (TGH) is approximately 2.1B.

What does Textainer Group Holdings Limited do?

Textainer leases intermodal containers to shipping lines and other lessees globally, with a fleet of over 4 million TEU.

How long has Textainer been in operation?

Textainer has been operating since 1979, making it one of the oldest and largest lessors of intermodal containers.

What types of containers does Textainer offer?

Textainer offers standard dry freight, refrigerated intermodal containers, dry freight specials, and tank containers through Trifleet Leasing.

Who are Textainer’s main customers?

Textainer leases containers to approximately 200 customers, including major international shipping lines and other lessees.

What are some recent financial highlights for Textainer?

For the third quarter, Textainer reported a utilization rate of 99.1%, with lease rental income of $192 million and adjusted net income of $45 million.

What is the significance of the Stonepeak acquisition?

The acquisition by Stonepeak for $50.00 per share in cash highlights Textainer's market value and is expected to benefit shareholders and business operations.

Where is Textainer headquartered?

Textainer is headquartered in Hamilton, Bermuda.

How extensive is Textainer’s global network?

Textainer operates through a network of 14 offices and approximately 400 independent depots worldwide.

What is Textainer's approach to capital expenditure?

Textainer invests over $1 billion annually in new containers and is also one of the largest sellers of used containers.

What is the expected closing date for the Stonepeak acquisition?

The acquisition is expected to close in the first quarter of 2024, subject to customary closing conditions.

Textainer Group Holdings Limited

NYSE:TGH

TGH Rankings

TGH Stock Data

2.07B
40.46M
2.21%
83.22%
4.54%
Rental & Leasing Services
Industrials
Link
Bermuda
Hamilton