Textainer Profit Jumped 10.6 Percent in Third Quarter

Textainer Profit Jumped 10.6 Percent in Third Quarter

Container lessor Textainer Group today reported profit in the third quarter of $50.7 million, up 10.6 percent from $45.8 million in the third quarter of 2011.

Profit in the first nine months of 2012 was $146.4 million, up 8.7 percent from $134.7 million for the same period last year.

Quarterly revenue was $122.3 million, up 11.7 percent from last year’s third quarter. Year-to-date revenue was $359.8 million, up 17.4 percent year-over-year.

Year-to-date, the company has invested more than $1 billion in new and used containers, and it now owns 68.8 percent of its total fleet, the highest level ever.

Container lessors are projected to provide more than 65 percent of all new container demand in 2012 and could meet or exceed 70 percent next year, said Philip K. Brewer, president and CEO, in a written statement.