Diversified industrial company
said its second-quarter earnings jumped from the year-ago period.
The Dallas-based company earned $85.8 million, or $1.08 a share, in the quarter, compared with $21.8 million, or 29 cents a share, a year ago. Second-quarter results include a gain of 29 cents a share from the disposition of the fittings business. Analysts were expecting earnings of $46.6 million, or 65 cents a share.
Second-quarter revenue rose 23.1% from a year ago to $883.8 million. Analysts were expecting revenue of $858 million in the most recent quarter.
Operating income for the quarter more than doubled to $105.3 million and operating margin increased 614.8 basis points to 11.9%.
By segment, second-quarter revenue from rail group rose 15.4% from a year ago to $571.2 million, revenue from construction products group rose 12.8% to $188.7 million, and revenue form inland barge group rose 41.1% to $90 million. Revenue form energy equipment group jumped 54.4% to $83.7 million and revenue from railcar leasing and management services group rose 47.7% to $71.8 million.
Trinity's North American railcar order backlog rose to 29,320, compared with 3,700 in March 31 and its inland barge group's order backlog grew to $487 million at the end of the second quarter.
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