Investor Presentaiton
Overview of Financial Results
Lease rental income
1Q23 and % change from 4Q22
$195M (-4%)
Income from
operations
$100M (-10%)
Adjusted Net
income¹
$54M (-13%)
Adjusted EPS¹
$1.22 (-11%)
Adjusted EBITDA
$167M (-7%)
Annualized ROE
13% (-11%)
t
X
Highlights
Utilization remains elevated and fleet cash
generation stable, considering two fewer billing days
in the quarter, during this traditionally slower part of
the year.
■ 1Q23 average and current utilization rate at 98.8%.
■ Stable future cash flows and profitability from our
long-term fixed-rate leases and fixed-rate debt. The
average remaining tenor for both our lease portfolio
and our fixed-rate debt is 6.0 years and 5.8 years,
respectively.
Container demand remained muted, but prices are
slightly above historical levels and turn-ins mostly
focused on sales-age containers.
In light of limited container investments, continued
focus on shareholder returns and de-leveraging.
Declared a common dividend of $0.30 per common
share, payable June 15, 2023.
Repurchased 1.3 million shares of common stock at
an average price of $32.82 per share during 1Q23.
(1) Adjustments may include items such as unrealized gains/losses on marketable securities, debt termination expense, etc. See re conciliation in Appendix.View entire presentation