The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Bascome Majors - Susquehanna Financial Group - Analyst
: Good morning.
Can you talk a little bit about the backlog coverage for the year and any shaping and how that looks differently in the first half versus the second
half or or maybe even the fourth quarter?
Question: Bascome Majors - Susquehanna Financial Group - Analyst
: And just to clarify, when you say second half, better than the first half, are you talking about deliveries and earnings, or are you talking about the
order. (inaudible) [Cadence]?
Question: Bascome Majors - Susquehanna Financial Group - Analyst
: And to the tariff uncertainty piece, I appreciate the color you've given throughout your guidance on that.
Given how fluid that still is, have you been able to maybe adjust some of the terms of your new purchase contracts?
I mean, how is that uncertainty shared between the buyer who might pay more or your margin that that might get eaten up by something that
changes before a car is delivered?
I just want to understand the risk sharing in that and how that's evolving and if you have a plan to maybe share that in a way that that one side
doesn't take the full hit if something changes.
Question: Bascome Majors - Susquehanna Financial Group - Analyst
: And last one, just similar question, but the lease business when you're originating leases but but holding the car on your own balance sheet, is
there a similar escalation costs if the cost of that car changes materially from from what was anticipated at least?
Question: Bascome Majors - Susquehanna Financial Group - Analyst
: Thank you for the time.
Question: Andrzej Tomczyk - Goldman Sachs - Analyst
: Hi, Morning. Thank you for taking my questions.
First question I just had on the deliveries for 2025, I think implied down roughly 18% versus 2024 relative to the industry expectation, would you
expect Trinity's deliveries to fall roughly in that range, the relative to the 18%, or should we think higher or lower?
Question: Andrzej Tomczyk - Goldman Sachs - Analyst
: Got it. And just for the margin though in manufacturing, I think you mentioned the 7% to 8% full year.
Is there any way we can think about how that trends through the year maybe starting off in the first quarter?
Question: Andrzej Tomczyk - Goldman Sachs - Analyst
: Thanks for having me.
Question: Andrzej Tomczyk - Goldman Sachs - Analyst
: Appreciate the color there.
Maybe just to close off two final questions from my end, you mentioned I think the order inquiries were picking up into 2025 if you could just,
unless I heard that wrong and then is that tank car letter or freight car specific, so that's the first question.
And the last question would just be if there's any update on the parts business. How that's doing, how that's expected to perform in 2025.
Thanks for taking my questions.
Question: Andrzej Tomczyk - Goldman Sachs - Analyst
: Oh, that's it from my end. Thanks very much appreciate it.
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