Heavy Transportation Equipment Stocks Q2 Recap: Benchmarking Trinity (NYSE:TRN)

September 23, 2025 at 23:36 PM EDT

TRN Cover Image

As the Q2 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the heavy transportation equipment industry, including Trinity (NYSE: TRN) and its peers.

Heavy transportation equipment companies are investing in automated vehicles that increase efficiencies and connected machinery that collects actionable data. Some are also developing electric vehicles and mobility solutions to address customers’ concerns about carbon emissions, creating new sales opportunities. Additionally, they are increasingly offering automated equipment that increases efficiencies and connected machinery that collects actionable data. On the other hand, heavy transportation equipment companies are at the whim of economic cycles. Interest rates, for example, can greatly impact the construction and transport volumes that drive demand for these companies’ offerings.

The 13 heavy transportation equipment stocks we track reported a very strong Q2. As a group, revenues beat analysts’ consensus estimates by 2.6%.

Thankfully, share prices of the companies have been resilient as they are up 7.4% on average since the latest earnings results.

Weakest Q2: Trinity (NYSE: TRN)

Operating under the trade name TrinityRail, Trinity (NYSE: TRN) is a provider of railcar products and services in North America.

Trinity reported revenues of $506.2 million, down 39.8% year on year. This print fell short of analysts’ expectations by 13.3%. Overall, it was a slower quarter for the company with a significant miss of analysts’ EPS and EBITDA estimates.

“Our second quarter results highlight the robust performance of our leasing business and Trinity’s capability to generate substantial cash flow,” stated Trinity’s Chief Executive Officer and President, Jean Savage.

Trinity delivered the weakest performance against analyst estimates and slowest revenue growth of the whole group. Interestingly, the stock is up 12.9% since reporting and currently trades at $28.22.

Read our full report on Trinity here, it’s free.

Best Q2: Cummins (NYSE: CMI)

With more than half of the heavy-duty truck market using its engines at one point, Cummins (NYSE: CMI) offers engines and power systems.

Cummins reported revenues of $8.64 billion, down 1.7% year on year, outperforming analysts’ expectations by 3.4%. The business had an incredible quarter with an impressive beat of analysts’ EBITDA estimates.

The market seems happy with the results as the stock is up 15.6% since reporting. It currently trades at $418.12.

Is now the time to buy Cummins? Access our full analysis of the earnings results here, it’s free.

Wabtec (NYSE: WAB)

Also known as Wabtec, Westinghouse Air Brake Technologies (NYSE: WAB) provides equipment, systems, and related software for the railway industry.

Wabtec reported revenues of $2.71 billion, up 2.3% year on year, falling short of analysts’ expectations by 2.5%. It was a slower quarter as it posted a significant miss of analysts’ organic revenue estimates and a slight miss of analysts’ EBITDA estimates.

As expected, the stock is down 9.3% since the results and currently trades at $194.51.

Read our full analysis of Wabtec’s results here.

Blue Bird (NASDAQ: BLBD)

With around a century of experience, Blue Bird (NASDAQ: BLBD) is a manufacturer of school buses and complementary parts.

Blue Bird reported revenues of $398 million, up 19.4% year on year. This print topped analysts’ expectations by 5.5%. Overall, it was a stunning quarter as it also produced an impressive beat of analysts’ sales volume estimates and a solid beat of analysts’ EBITDA estimates.

Blue Bird scored the fastest revenue growth among its peers. The stock is up 32.9% since reporting and currently trades at $58.73.

Read our full, actionable report on Blue Bird here, it’s free.

Greenbrier (NYSE: GBX)

Having designed the industry’s first double-decker railcar in the 1980s, Greenbrier (NYSE: GBX) supplies the freight rail transportation industry with railcars and related services.

Greenbrier reported revenues of $842.7 million, up 2.7% year on year. This result beat analysts’ expectations by 7.3%. It was a stunning quarter as it also put up an impressive beat of analysts’ sales volume and EPS estimates.

Greenbrier achieved the biggest analyst estimates beat among its peers. The stock is down 2.4% since reporting and currently trades at $45.91.

Read our full, actionable report on Greenbrier here, it’s free.

Market Update

Thanks to the Fed’s series of rate hikes in 2022 and 2023, inflation has cooled significantly from its post-pandemic highs, drawing closer to the 2% goal. This disinflation has occurred without severely impacting economic growth, suggesting the success of a soft landing. The stock market thrived in 2024, spurred by recent rate cuts (0.5% in September and 0.25% in November), and a notable surge followed Donald Trump’s presidential election win in November, propelling indices to historic highs. Nonetheless, the outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. The path forward holds both optimism and caution as new policies take shape.

Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

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