The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how heavy transportation equipment stocks fared in Q4, starting with Trinity (NYSE: TRN).

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 12 heavy transportation equipment stocks we track reported a strong Q4. As a group, revenues beat analysts’ consensus estimates by 4.6% while next quarter’s revenue guidance was in line.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

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 $611.2 million, down 2.9% year on year. This print exceeded analysts’ expectations by 7.1%. Overall, it was an exceptional quarter for the company with a solid beat of analysts’ revenue estimates and full-year EPS guidance exceeding analysts’ expectations.

“Trinity Industries delivered strong full year 2025 results with an EPS of $3.14 – an improvement of $1.33 year over year – driven by higher lease rates, gains on lease portfolio sales, lower administrative costs, and a $194 million non-cash gain from a railcar partnership restructuring,” said Jean Savage, Trinity’s Chief Executive Officer and President.

The stock is down 6.8% since reporting and currently trades at $29.52.

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

Best Q4: Douglas Dynamics (NYSE: PLOW)

Once manufacturing snowplows designed for the iconic jeep vehicle precursor, Douglas Dynamics (NYSE: PLOW) offers snow and ice equipment for the roads and sidewalks.

Douglas Dynamics reported revenues of $184.5 million, up 28.6% year on year, outperforming analysts’ expectations by 8.6%. The business had an incredible quarter with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ revenue estimates.

Douglas Dynamics achieved the fastest revenue growth among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 4.2% since reporting. It currently trades at $40.87.

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

Weakest Q4: Wabash (NYSE: WNC)

With its first trailer reportedly built on two sawhorses, Wabash (NYSE: WNC) offers semi trailers, liquid transportation containers, truck bodies, and equipment for moving goods.

Wabash reported revenues of $321.5 million, down 22.9% year on year, exceeding analysts’ expectations by 1%. Still, it was a disappointing quarter as it posted revenue guidance for next quarter missing analysts’ expectations significantly and a significant miss of analysts’ adjusted operating income estimates.

Wabash delivered the slowest revenue growth in the group. As expected, the stock is down 27.1% since the results and currently trades at $8.20.

Read our full analysis of Wabash’s results here.

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 $706.1 million, down 19.4% year on year. This result topped analysts’ expectations by 7.7%. Overall, it was a stunning quarter as it also produced a beat of analysts’ EPS estimates and an impressive beat of analysts’ adjusted operating income estimates.

The stock is down 2.9% since reporting and currently trades at $51.78.

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

PACCAR (NASDAQ: PCAR)

Founded more than a century ago, PACCAR (NASDAQ: PCAR) designs and manufactures commercial trucks of various weights and sizes for the commercial trucking industry.

PACCAR reported revenues of $6.82 billion, down 13.7% year on year. This print surpassed analysts’ expectations by 2.5%. It was a very strong quarter as it also recorded a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ revenue estimates.

The stock is down 5.1% since reporting and currently trades at $115.87.

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

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