TRN — what changed in the latest 10-Q
A section-by-section comparison of TRN's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-29 vs the prior 10-Q · 2026-07-30
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +46 | −17 | ~43 | 68 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | No paragraph-level changes | 0 | 0 | 0 | 2 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | Some risk factors updated | +1 | −1 | 0 | 2 |
| Other information | Text added/removed | +1 | −2 | 0 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-29
TRL-2026 Term Loan – In October 2026, Trinity Rail Leasing 2026 LLC, a limited purpose, indirect wholly-owned subsidiary of the Company owned through Trinity Industries Leasing Company ("TILC"), entered into a $349.8 million term loan agreement (the “TRL-2026 term loan”). The TRL-2026 term loan bear…
The following table summarizes our consolidated results of operations for the three and nine months ended September 30, 2026 and 2025:
Selling, engineering, and administrative expenses55.1 45.2 156.9 144.6
Revenues – Our revenues for the three months ended September 30, 2026 were $535.1 million, representing an increase of $81.0 million, or 17.8%, over the prior year period. Significant drivers of the change are as follows:
•A $95.8 million increase in the Rail Products Group primarily due to an 84.1% increase in external deliveries, and
Text removed vs the prior filing · source: 10-Q · 2026-07-30
The following table summarizes our consolidated results of operations for the three and six months ended June 30, 2026 and 2025:
Selling, engineering, and administrative expenses51.1 49.4 101.8 99.4
Revenues – Our revenues for the three months ended June 30, 2026 were $485.1 million, representing a decrease of $21.1 million, or 4.2%, over the prior year period. Our revenues for the six months ended June 30, 2026 were $977.1 million, representing a decrease of $114.5 million, or 10.5%, over the …
Cost of revenues – Our cost of revenues for the three months ended June 30, 2026 was $375.2 million, representing an increase of $2.4 million, or 0.6%, over the prior year period. Our cost of revenues for the six months ended June 30, 2026 was $738.3 million, representing a decrease of $77.7 million…
Gains on dispositions of property and other divestitures – Gains on dispositions of property and other divestitures increased by $129.6 million and $144.9 million for the three and six months ended June 30, 2026, when compared to the prior year periods primarily due to the $131.6 million gain on the…
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-10-29
Since the filing of our Annual Report on Form 10-K, the regulatory environment relating to U.S. tariffs, customs administration, and trade policy has continued to evolve. We continue to monitor these developments, including governmental actions and interpretations relating to Section 232 of the Trad…
Text removed vs the prior filing · source: 10-Q · 2026-07-30
Since the filing of our Annual Report on Form 10-K, the regulatory environment relating to U.S. tariffs, customs administration, and trade policy has continued to evolve. We continue to monitor these developments, including governmental actions and interpretations relating to Section 232 of the Trad…
Other information
Text added vs the prior filing · source: 10-Q · 2026-10-29
During the three months ended September 30, 2026, none of our directors or executive officers informed the Company of the adoption or termination of a "Rule 10b5-1 trading arrangement" or a "non-Rule 10b5-1 trading arrangement", as those terms are defined in Item 408 of SEC Regulation S-K.
Text removed vs the prior filing · source: 10-Q · 2026-07-30
Kevin Poet, Executive Vice President, Operations and Support Services, entered into a stock trading plan on May 26, 2026. Mr. Poet’s plan provides for the sale of up to 17,000 shares of common stock between August 25, 2026, and November 20, 2026. Mr. Poet’s trading plan was entered into during an op…
Except as described above, during the three months ended June 30, 2026, none of our directors or executive officers informed the Company of the adoption or termination of a "Rule 10b5-1 trading arrangement" or a "non-Rule 10b5-1 trading arrangement", as those terms are defined in Item 408 of SEC Reg…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice