Trinity Industries, Inc. (NYSE:TRN) today announced earnings results for the second quarter of 2012, including the following significant highlights:
- Second quarter revenue growth of 45% and net income growth of 126% over second quarter of 2011
- Anticipates full year 2012 earnings per common diluted share of between $2.95 and $3.10, compared to its previous full year 2012 guidance of between $2.55 and $2.70
- Rail Group receives orders for approximately 8,610 new railcars and reports shipments of approximately 5,245 railcars during the second quarter
- Inland Barge Group receives orders of approximately $203 million
- Railcar Leasing and Management Services Group reports operating profit from sales of railcars from the lease fleet of $15.1 million compared to $3.4 million in the same period last year
- Company repurchases approximately 1.7 million shares of its common stock during the quarter at a cost of $41.2 million
- Company ended the quarter with $294.1 million of cash and $831.8 million of available liquidity, including its committed credit facilities
Trinity Industries, Inc. reported net income attributable to Trinity stockholders of $67.8 million, or $0.84 per common diluted share, for the second quarter ended June 30, 2012. Net income for the same quarter of 2011 was $30.0 million, or $0.37 per common diluted share. Revenues for the second quarter of 2012 increased 45% to $1,028.4 million compared to revenues of $708.3 million for the same quarter of 2011. The Company reported an operating profit of $154.9 million in the second quarter of 2012, a 62% increase compared to an operating profit of $95.4 million for the same quarter last year.
“I am pleased with our accomplishments during the second quarter and the overall rate of growth we are experiencing in our company, both in terms of growing top-line and bottom-line results,” said Timothy R. Wallace, Trinity’s Chairman, CEO and President. “During the second quarter, our businesses continued to perform well as they responded to various conditions within their respective markets.”
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