Trinity Industries, Inc. (NYSE:TRN) today announced earnings results for the fourth quarter and full year 2012, including the following significant highlights:
- Year-over-year fourth quarter and full year revenue growth of 11% and 30%, respectively, and earnings per common diluted share growth of 61% and 93%, respectively, after adjusting for one-time items in 2011
- Rail Group orders for 5,620 new railcars during the fourth quarter, increasing the backlog to 31,990 units with a value of $3.7 billion
- Rail Group shipments of 4,960 railcars during the fourth quarter and 19,360 railcars during the full year
- Inland Barge Group orders of $193 million during the fourth quarter, resulting in a backlog of $564 million
- Available liquidity at the end of the fourth quarter of more than $1.2 billion, including $573 million of cash and the Company's unused committed credit facilities
Trinity Industries, Inc. reported net income attributable to Trinity stockholders of $71.3 million, or $0.90 per common diluted share, for the fourth quarter ended December 31, 2012. Net income for the same quarter of 2011 was $56.1 million, or $0.70 per common diluted share. Included in the results for the fourth quarter of 2011 was a pre-tax gain of $17.0 million, or $0.14 per common diluted share, due to flood-related insurance settlements.
Revenues for the fourth quarter of 2012 increased 11% to $1.0 billion compared to revenues of $914.3 million for the same quarter of 2011. The Company reported an operating profit of $158.9 million in the fourth quarter of 2012, a 14% increase compared to an operating profit of $139.5 million for the same quarter last year.
For the year ended December 31, 2012, the Company reported net income attributable to Trinity stockholders of $255.2 million, or $3.19 per common diluted share. In 2011, the Company reported net income of $142.2 million, or $1.77 per common diluted share. Prior year results included a pre-tax net gain of $15.5 million or $0.12 per common diluted share, due to flood-related insurance settlements. Revenues for the year ended December 31, 2012 were $3.8 billion, a 30% increase compared to revenues of $2.9 billion in 2011.
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