Investor Presentaiton
1)
23
2)
3)
Revenue and Profit Trends
$ (in 000's)
$325,000
$300,000
$275,000
$250,000
$225,000
$200,000
$175,000
$150,000
$125,000
$100,000
$75,000
$50,000
$25,000
$0
$ (in 000s)
$90,000
$80,000
$70,000
$60,000
$50,000
$40,000
$30,000
$20,000
$10,000
$0
Cash Proceeds and Revenue
Proceeds from lease rentals (1)
Proceeds from resale + nettra ding margin (2)
Total Revenue per Income Statement (3)
Adjusted Net Income
$ per share
$1.80
$1.60
$1.40
$1.20
$1.00
$0.80
$0.60
$0.40
$0.20
$-
Long-term lease contracts and optimized
resale activity provide stable cash flows
and supports our long-term profitability.
98% of leases under fixed-rate term
contracts and 91% of our debt is fixed-
rate or hedged, with remaining average
tenors of approximately 6 years.
■ Despite rising market interest rates,
interest expense decreased in 1Q23 due
to our hedging strategy and opportunistic
debt reduction.
■
In addition to de-leveraging, we continue
to focus on returning capital to
shareholders. During 1Q23 and over the
last four quarters, common dividends
and buybacks represent 102% and 85%
of adjusted net income, respectively.
■ Repurchased 30% of our outstanding
common shares since the program
commenced in 3Q19. At the end of
1Q23, the remaining available
authorization was $81 million.
t
X
Adj. Net income (excluding gain on sale)
Adj. Net income (gain on sale)
Adj. Net income per diluted share
Total operating and finance lease rental proceeds, including the principal portion of finance leases. While this includes the principal portion, for financial statement presentation only the interest portion of
finance leases is shown as revenue.
Total proceeds from container sales plus net trading margin. While this includes total resale proceeds, for financial statement presentation only the gain on sale is shown as revenue.
Total GAAP revenue per the income statement: lease rental income (excluding finance lease principal) + management fees + gain on sale + trading margin.
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