Textainer reports Q2 adjusted EPS 31c, consensus 34c
Reports Q2 revenue $140.7M, consensus $141.95M. The company said, "We saw a significant surge in lease-outs, starting late June and continuing throughout July, associated with the traditional peak season increase in demand. The steady investments in new containers during the first and second quarters positioned us well to benefit from this surge. Over the past two months, our customers picked up more than 110 thousand TEU, yielding a lease-out to turn-in ratio of 2.5 to 1. The associated revenue will be fully reflected in our third quarter results. We have ordered and/or received delivery of 360 thousand TEU totaling $700 million in 2018. New container prices remain stable at approximately $2,200/CEU. Depot inventory remains at historically low levels and we continue to place new orders to replenish lease-outs of our factory inventory."