NEW YORK (TheStreet) -- American Railcar Industries (ARII - Get Report) stock is falling Thursday after missing analysts' expectations in its first quarter. The results were lower primarily due to decreased revenue in its manufacturing segment on an increased amount of tank railcars shipped for the lease fleet relative to direct sale shipments.
Over the March-ended quarter, the company earned an adjusted $1.03 a share, 10 cents less than analysts surveyed by Thomson Reuters anticipated. Revenue slid 6.7% year over year to $182.1 million and missed forecasts for $203.24 million.
By late afternoon, shares were down 14.6% to $59.28.
- You can view the full analysis from the report here: ARII Ratings Report
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