Earnings history

last 4 reports each · paired by recencyMethod

TRN

2 of 4at or beyond implied

Reportimpliedrealized× implied

Q3 FY26thin chain±8.1%+10.80%×1.33

Q2 FY26±8.8%−6.49%×0.74

Q1 FY26±7.6%+6.01%×0.79

Feb 12 '26±5.4%+9.15%×1.70

WAB

1 of 4at or beyond implied

Reportimpliedrealized× implied

Q3 FY26±5.9%+1.95%×0.32

Q2 FY26±6.8%+10.04%×1.47

Q1 FY26±6.4%+1.51%×0.23

Feb 11 '26±4.9%+3.23%×0.65

= impliedTRN realized, solidWAB realized, hatchedOne scale, both sides: full bar = 11%× = |realized| ÷ impliedSource: market data

TRN compared with WAB: revenue, margins and what each company keeps, and the suppliers and customers both name