Brief: Textainer Group Holdings Ltd reports third quarter results

Textainer group

02/11/2018 13:05

Nov 2 (Reuters) - Textainer Group Holdings Ltd  TGH.N :
    * TEXTAINER GROUP HOLDINGS LIMITED REPORTS THIRD-QUARTER
RESULTS
    * Q3 ADJUSTED EARNINGS PER SHARE $0.08
    * Q3 EARNINGS PER SHARE $0.03
    * Q3 EARNINGS PER SHARE VIEW $0.34 -- THOMSON REUTERS
I/B/E/S
    * Q3 REVENUE $149.4 MILLION
    * TEXTAINER GROUP-RECORDED CONTAINER IMPAIRMENTS OF $16.8
MILLION
RESULTING FROM 2 DEFAULTED LESSEES & MOVE TO DISPOSAL OF
ECONOMICALLY UNLEASABLE CONTAINERS
    * TEXTAINER GROUP HOLDINGS - QTRLY NET INCOME WAS NEGATIVELY
AFFECTED BY IMPAIRMENT CHARGES, RECOVERY COSTS FOR TWO
DEFAULTING REGIONAL SHIPPING LINES IN ASIA
    * TEXTAINER GROUP - UTILIZATION AVERAGED 98.0% FOR QUARTER
AND IS
CURRENTLY AT 98.6%, AN IMPROVEMENT OF 130 BASIS POINTS FROM
AVERAGE IN Q3 OF 2017
    * TEXTAINER GROUP HOLDINGS - DECIDED TO DISPOSE OF
ECONOMICALLY
UNLEASABLE CONTAINERS WHICH RESULTED IN AN IMPAIRMENT WRITE-DOWN
DURING QUARTER
    * NOW EXPECT TO SEE RESTRAINED DEMAND UNTIL TRADITIONAL
YEAR-END
RAMP-UP LEADING INTO LUNAR NEW YEAR

Source text for Eikon:  ID:nBw60SFcpa 
Further company coverage:  TGH.N 

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