During the third quarter of 2012, the Railcar Leasing and Management Services Group reported leasing and management revenues of $136.5 million compared to $123.8 million in the third quarter of 2011 due to continued growth in the lease fleet and higher rental rates. In addition, the Group recognized revenue of $23.4 million in sales of railcars from the lease fleet during the third quarter. Operating profit for this Group was $85.1 million for the third quarter of 2012 compared to operating profit of $64.2 million during the third quarter of 2011. Included in the operating results for the third quarter of 2012 were $21.3 million of profit from railcar sales. For the same period last year, the operating results included $6.5 million of profit from railcar sales.The Inland Barge Group reported revenues of $166.5 million compared to revenues of $143.2 million in the third quarter of 2011. The increase in revenues was due to higher volumes and a change in mix of barge types. The increased volume was partially due to the recovery from flooding that reduced production levels in the third quarter of last year. Operating profit for this Group was $26.9 million in the third quarter of 2012 compared to $26.0 million in the third quarter of 2011. Third quarter 2011 operating profit included a $3.1 million net gain from flood-related insurance recoveries. During the third quarter of 2012, the Inland Barge Group received orders of $162 million, and as of September 30, 2012 had a backlog of $537 million compared to a backlog of $542 million as of June 30, 2012.
Trinity Industries, Inc. Reports Third Quarter 2012 Earnings Growth Of 100% And Raises Full Year 2012 Earnings Guidance
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.