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Trinity Industries, Inc. Reports Third Quarter 2012 Earnings Growth Of 100% And Raises Full Year 2012 Earnings Guidance

Stocks in this article: TRN

Trinity Industries, Inc. (NYSE:TRN) today announced earnings results for the third quarter of 2012, including the following significant highlights:

  • Year-over-year third quarter revenue growth of 19% and earnings per common diluted share growth of 100%
  • Full year 2012 earnings guidance per common diluted share of between $3.08 and $3.15, compared to previous full year 2012 guidance of between $2.95 and $3.10
  • Rail Group orders for 4,865 new railcars during the quarter, bringing the backlog to 31,330 units valued at a record level of $3.3 billion
  • Rail Group shipments of 4,145 railcars during the third quarter and anticipated full year 2012 shipments of between 19,150 and 19,650 railcars
  • Inland Barge Group orders of $162 million during the third quarter, resulting in backlog of $537 million
  • Railcar Leasing and Management Services Group operating profit from sales of railcars from the lease fleet of $21.3 million compared to $6.5 million in the same period last year
  • Available liquidity at the end of the quarter of $757.6 million, including $312.2 million of cash and the Company’s committed credit facilities

Trinity Industries, Inc. reported net income attributable to Trinity stockholders of $63.2 million, or $0.80 per common diluted share, for the third quarter ended September 30, 2012. Net income for the same quarter of 2011 was $31.9 million, or $0.40 per common diluted share. Revenues for the third quarter of 2012 increased 19% to $937.5 million compared to revenues of $791.1 million for the same quarter of 2011. The Company reported an operating profit of $141.9 million in the third quarter of 2012, a 35% increase compared to an operating profit of $105.4 million for the same quarter last year.

“I am pleased with our third quarter 2012 results, which represent the Company’s eighth consecutive quarter of combined year-over-year revenue and earnings growth,” said Timothy R. Wallace, Trinity's Chairman, CEO and President. “During the quarter, our portfolio of businesses performed well, especially those serving the North American oil, gas, and chemical industries.”

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