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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) announced it will release its Q2 2022 financial results on August 2, 2022, before the market opens. A conference call to discuss these results will follow at 11:00 a.m. ET. Textainer is a leading lessor of intermodal containers, with a fleet of over 4 million TEU and approximately 200 customers, including major international shipping lines. Investors can participate via webcast on the company’s Investor Relations website or by telephone.
Textainer Group Holdings Limited (TGH) reported strong Q1 2022 results, with lease rental income of $198.7 million, up 17% year-over-year. Net income attributable to common shareholders was $72.7 million, or $1.47 per share. The company declared a $0.25 per common share cash dividend, payable on June 15, 2022. Textainer's average fleet utilization stood at 99.7%, with a fleet size of 4.4 million TEU. A $50 million increase to the share repurchase program was also announced, bringing the total to $250 million since its inception.
Textainer Group Holdings Limited (NYSE:TGH) will release its first quarter 2022 financial results on May 5, 2022, before regular market trading. A conference call discussing the results will take place at 11:00 a.m. Eastern Time the same day. Textainer is a leading lessor of intermodal containers, with approximately 4.3 million TEU in its fleet and a customer base of around 200, including major international shipping lines.
Textainer Group Holdings Limited (NYSE:TGH) announced a significant change in its tax reporting for dividends paid in 2021, now deeming them taxable income for U.S. federal income tax purposes instead of nontaxable returns of capital. This change affects all common and preferred dividends. The amended IRS Form 8937 can be accessed on the company's website. Additionally, dividends paid on March 15, 2022, are also expected to be treated as taxable income. Shareholders are advised to consult tax advisors regarding potential impacts on their 2021 taxes.
Textainer Group Holdings Limited (TGH) reported strong financial results for Q4 and the full year ending December 31, 2021. Q4 lease rental income reached $198.2 million, with adjusted net income of $73.2 million or $1.46 per diluted share. The full year showed a 25% increase in lease rental income to $750.7 million and adjusted EBITDA rose 47% to $698 million. Textainer declared a quarterly common dividend of $0.25, payable on March 15, 2022. The company continued its share repurchase program, acquiring 741,163 shares in Q4. Average fleet utilization stood at 99.7%.
Textainer Group Holdings Limited (NYSE:TGH), a global leader in intermodal container leasing, will announce its fourth quarter and full-year 2021 financial results on February 10, 2022, post-market close. A conference call to discuss these results is scheduled for 5:00 p.m. Eastern Time the same day. Participants can join via the company’s Investor Relations website or by telephone. Textainer operates a fleet of approximately 4.3 million TEU and provides services to around 250 customers, including major international shipping lines.
Textainer Group Holdings Limited (NYSE: TGH) has successfully renewed and extended a $1.5 billion warehouse facility through its wholly-owned subsidiary, Textainer Marine Containers II Limited. This amendment includes a three-year revolving period until November 2024, followed by partial amortization leading to maturity in November 2028. The facility's pricing is set at 1.70% over the Secured Overnight Financing Rate (SOFR). The renewal enhances Textainer's capacity to invest in intermodal containers as market opportunities arise.
Textainer Group Holdings Limited (NYSE: TGH) announced its participation in the NYSE Investor Access Day on November 16, 2021. CEO Olivier Ghesquiere and CFO Michael Chan will engage in individual and small group meetings with investors. Textainer, operating since 1979, is a leading lessor of intermodal containers, boasting a fleet of approximately 4.3 million TEU. The company caters to around 250 customers, including major international shipping lines. For more details, their investor presentation is available on their website.
Textainer Group Holdings Limited (TGH) reported strong Q3 2021 results, with lease rental income rising to $195.8 million, a 31% increase year-over-year. Net income was $64.7 million, down from $73.8 million in Q2, resulting in a diluted EPS of $1.28. Adjusted EBITDA grew to $184.2 million, reflecting a 55% increase from Q3 2020. The company also announced a quarterly dividend of $0.25 per common share, payable on December 15, 2021, alongside a $50 million increase in its share repurchase program. These results highlight Textainer's robust market position amid sustained demand for containers.
Textainer Group Holdings Limited (NYSE:TGH) will report its third quarter 2021 financial results after market close on November 4, 2021. A conference call to discuss these results is scheduled for 5:00 p.m. Eastern Time the same day. Textainer, a leading intermodal container lessor with a fleet of approximately 4.1 million TEU, serves about 250 customers globally, including major shipping lines. Interested parties can access the call via Textainer's Investor Relations website or by dialing provided phone numbers.
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