Triton posts FY 2025 depreciation and amortization of USD 386.56 million (-154.91 million)
Triton reported FY 2025 net income of USD 508.38 million and net income attributable to common shareholder of USD 445.98 million, on income before income taxes of USD 553.86 million. Operating income was USD 817.41 million, while interest and debt expense totaled USD 263.50 million. Total leasing revenues were USD 1.35 billion (down 11.86% YoY), including operating lease revenues of USD 1.22 billion (down 14.4% YoY) and finance lease revenues of USD 111.86 million (up 3.69% YoY); management fee revenues were USD 19.48 million versus no management fee revenues in FY 2024, reflecting management of the TCF VIII securitization portfolio following its distribution. Equipment trading revenues were USD 59.51 million (up 22.36% YoY) and trading margin was USD 2.15 million (down 49.93% YoY). Depreciation and amortization was USD 386.56 million (down 28.61% YoY). For FY 2025, average utilization was 98.1% and ending utilization was 97.1%. The company said container demand was pressured by tariff actions affecting U.S.-China trade and by increased customer preference to purchase rather than lease, contributing to higher drop-offs and lower pick-ups. Triton highlighted the July 1, 2025 acquisition of GCI assets for approximately USD 1.08 billion (inclusive of transaction costs) and the March 2025 distribution of its equity interest in TCF VIII to Parent, which it said reduced net income attributable to common shareholders by USD 82.7 million. As of December 31, 2025, Triton’s total fleet was 4.3 million containers and chassis (7.4 million TEU), and net book value of revenue earning assets was USD 9.1 billion.
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