Trinity Industries, Inc. (NYSE:TRN) today announced earnings results for the third quarter ended September 30, 2013, including the following significant highlights:
- Record quarterly earnings per share of $1.26, a 58% increase year-over-year
- Anticipates fourth quarter earnings per common diluted share of between $1.24 and $1.34 and raises full year 2013 earnings guidance to between $4.55 and $4.65
- Rail Group receives orders for 5,610 new railcars during the third quarter resulting in a backlog of 40,050 units with a value of $5.1 billion
- Structural wind towers business receives orders with a value of $442 million, extending production visibility through 2015
- Company repurchases approximately 540,000 shares of its common stock during the quarter at a cost of $23.9 million
- Available liquidity at the end of the third quarter of approximately $1.2 billion
Trinity Industries, Inc. reported net income attributable to Trinity stockholders of $99.6 million, or $1.26 per common diluted share, for the third quarter ended September 30, 2013. Net income for the same quarter of 2012 was $63.2 million, or $0.80 per common diluted share.
Revenues for the third quarter of 2013 increased 22% to $1.1 billion compared to revenues of $907.3 million for the same quarter of 2012. The Company reported an operating profit of $205.6 million in the third quarter of 2013, a 46% increase compared to an operating profit of $140.7 million for the same quarter last year.
“The Company sustained its positive momentum during the quarter, reporting record net income and EPS and extending consecutive year-over-year growth in quarterly revenues and net income to twelve quarters,” said Timothy R. Wallace, Trinity’s Chairman, CEO, and President. “This is a tremendous accomplishment, and I am very proud of the hard work and talent of our people over the last several years to align our manufacturing capacity with the strong demand for our products that serve the oil, gas, and chemical industries.”