Company: TRTN-PA
Filing Date: 2025-05-02
Form Type: 6-K
Source: 0001660734-25-000016
Chunk: 30

Company: Triton International Ltd
Filing Date: 2025-05-02
Form: 6-K
Chunk 30
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 3.4 |   |
| Tank                    |     |                                       |   0.3 |   |     |                                     |   1.3 |   |
| Chassis                 |     |                                       |   0.6 |   |     |                                     |   1.8 |   |
| Equipment leasing fleet |     |                                       |  99.1 | % |     |                                     |  99.3 | % |
| Equipment trading fleet |     |                                       |   0.9 |   |     |                                     |   0.7 |   |
| Total                   |     |                                       | 100.0 | % |     |                                     | 100.0 | % |

(1) Owned and managed equipment is included in the table above.

TEU and CEU are standard industry measures of fleet size and are used to measure the quantity of containers that make up our revenue earning assets. CEU is a ratio used to convert the actual number of containers in our fleet to a figure based on an estimate for the historical average relative purchase prices of our various equipment types to that of a 20-foot dry container. For example, the CEU ratio for a 40-foot high cube dry container is 1.70, and a 40-foot high cube refrigerated container is 7.50. These factors may differ slightly from CEU ratios used by others in the industry.

#### Operating Performance
Our operating and financial performance was solid in the first quarter of 2025 despite a softening of market conditions and decreased container demand following a strong fourth quarter of 2024. The first quarter typically marks the slow season for container leasing and in addition, shipping lines have begun to scale back container fleet capacity that they built up during 2024 in anticipation that vessel traffic through the Suez Canal could increase and due to uncertainty surrounding the impact of increased tariffs. As a result, during the quarter we experienced increased drop-off volumes and a gradual decrease in utilization.

Our average utilization decreased in the first quarter of 2025 compared to the fourth quarter of 2024, though it remained higher than the first quarter of 2024. Utilization decreased in the first quarter of 2025 due to increased container drop-off activity coupled with limited pick-up volumes. Average utilization for the first quarter of 2025, fourth quarter of 2024 and first quarter of 2024 was 98.9%, 99.0%, and 97.7% respectively, and ending utilization