This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Trinity Industries, Inc. Reports Strong Second Quarter 2013 Results And Increases Full Year 2013 Earnings Guidance

Stocks in this article: TRN

“As reflected by our consolidated results, Trinity maintained its positive momentum during the second quarter, and we expect this trend to continue throughout the year,” said Timothy R. Wallace, Trinity's Chairman, CEO, and President. “Our Rail Group, Energy Equipment Group, and Construction Products Group each recorded solid operating results compared to prior quarters. I am pleased with their results. We continued to receive orders for products that serve the oil, gas, and chemical industries. The amount of backlog visibility we have in our major businesses provides us opportunities to continue to generate additional operating efficiencies. Our outlook for the future remains positive.”

Business Group Results

In the second quarter of 2013, the Rail Group reported revenues of $668.0 million and a record operating profit of $107.9 million, an increase compared to the second quarter of 2012 of 29% and 104%, respectively. The Rail Group shipped 5,600 railcars and received orders for 5,000 railcars during the second quarter. The Rail Group backlog remained at $5.1 billion at June 30, 2013, representing 40,665 railcars, compared to a backlog of $5.1 billion as of March 31, 2013, representing 41,265 railcars.

During the second quarter of 2013, the Railcar Leasing and Management Services Group reported leasing and management revenues of $150.7 million compared to $132.0 million in the second quarter of 2012 due to continued growth in the lease fleet and higher rental rates. In addition, the Group recognized revenue of $18.9 million from sales of railcars from the lease fleet owned for less than a year during the second quarter compared to $62.2 million in the second quarter of 2012. Proceeds from the sale of railcars from the lease fleet owned for more than a year at the time of sale are not included in revenue and totaled $8.5 million in the second quarter of 2013 and $7.6 million in the second quarter of 2012. Operating profit for this Group was $75.7 million for the second quarter of 2013 compared to an operating profit of $76.4 million during the second quarter of 2012. Included in the operating results for the second quarter of 2013 was $4.7 million of profit from railcar sales totaling $27.4 million compared to $15.1 million of profit from railcar sales totaling $69.8 million for the same period last year. Operating profit from operations increased for the three months ended June 30, 2013 compared to the same period last year primarily due to higher rental rates and lease fleet growth.

2 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,079.27 +49.06 0.27%
S&P 500 2,089.86 +7.98 0.38%
NASDAQ 4,802.2370 +28.7650 0.60%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs