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.
Textainer Group Holdings Limited (NYSE:TGH) will announce its first quarter 2023 financial results on May 2, 2023. The release will occur before the market opens, followed by a conference call at 11:00 a.m. Eastern Time. Investors can join the call via Textainer’s Investor Relations website or through a telephone line. The company, which has been operational since 1979, is a leading lessor of intermodal containers with over 4 million TEU in its fleet, serving around 200 customers globally. Textainer leases a variety of container types and maintains a strong network with 14 offices and 400 independent depots worldwide.
Textainer Group Holdings Limited (NYSE: TGH) reported strong financial results for Q4 and full-year 2022, with net income of $289.5 million, or $6.12 per diluted share, reflecting an increase from $273.5 million in 2021. Total lease rental income for 2022 rose 8% to $810 million, driven by fleet growth. The company also announced a quarterly cash dividend increase to $0.30 per common share, payable on March 15, 2023. However, Q4 saw a slight decline in total lease rental income and adjusted EBITDA, signaling potential market normalization. Textainer repurchased 5.6 million shares in 2022, showcasing commitment to shareholder returns.
Textainer Group Holdings Limited (NYSE:TGH) will announce its fourth quarter and full-year 2022 financial results on February 14, 2023, before market opening. Subsequently, a conference call will be held at 11:00 a.m. Eastern Time to discuss the results. Textainer is a leading lessor of intermodal containers, operating since 1979, with a fleet exceeding 4 million TEU. The company serves around 200 clients, including major global shipping lines, and maintains a network of 14 offices and about 400 depots globally. Investors interested in the call can join via webcast on the Investor Relations website or by phone.
Textainer Group Holdings Limited (NYSE: TGH) reported strong financial results for Q3 2022, showcasing total lease rental income of $205 million, a net income of $76.4 million or $1.64 per diluted share. Adjusted EBITDA reached $192.6 million. Despite muted demand for new containers, the company generated gains of $22.8 million from container sales. A quarterly cash dividend of $0.25 per common share and additional share repurchase authorization of $100 million were announced, highlighting commitment to returning capital to shareholders.
Textainer Group Holdings Limited (NYSE:TGH) will announce its third quarter 2022 financial results on November 1, 2022, before the market opens. A conference call will be held at 11:00 a.m. ET to discuss these results. Textainer is a leading lessor of intermodal containers, managing over 4 million TEU in its fleet, servicing approximately 200 customers globally. The company operates through a network of 14 offices and around 400 independent depots.
Textainer Group Holdings Limited (NYSE:TGH) announced the successful amendment of its revolver facility, increasing the commitment amount from $1.5 billion to $1.9 billion. The renewal extends the term by five years, maturing in August 2027. The interest rate shifted to the Secured Overnight Financing Rate (SOFR) plus a spread of 1.475%. Executive VP and CFO Michael K. Chan expressed satisfaction with the support from banking partners and highlighted the enhancement of Textainer's capital structure. The company is one of the largest lessors of intermodal containers globally.
Textainer Group Holdings Limited (NYSE: TGH) reported strong Q2 2022 results, with total lease rental income reaching $203.2 million, up 8% year-over-year. Net income attributable to common shareholders was $78.6 million, or $1.63 per diluted share. Adjusted EBITDA for the quarter stood at $191.1 million. The company repurchased 1.4 million shares, increasing the total share repurchase authorization by $100 million. A quarterly dividend of $0.25 per common share and preferred dividends were declared, payable on September 15, 2022.
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