, a diversified industrial company, said its first-quarter earnings rose more than five-fold, boosted by higher sales and improved margin across all of its business segments.
The Dallas-based company earned $37 million, or 70 cents a share, in the quarter, compared with $6 million, or 11 cents a share, a year ago. Analysts polled by Thomson First Call were expecting earnings of $31.5 million, or 61 cents a share in the most recent quarter.
First-quarter revenue rose 17.6% from a year-ago period to $760.9 million as against analysts' expectation of $778.1 million.
"Our operating profit was higher during this quarter than any March-ending quarter in the Company's history. Operating margins in all of our business segments improved as compared to the same quarter last year," the company said.
First-quarter operating income increased more than three-fold to $73.6 million and operating margin moved up 691 basis points to 9.8%.
By segment, first-quarter revenue from the rail group rose 24.3% from a year-ago period to $539.9 million. Revenue from construction products group increased 15% to $164.6 million. Revenue from inland barge group jumped 82.6% to $82 million. Revenue from the energy equipment group was up 46% to $68.2 million. Revenue from the railcar leasing and management services group increased 7.2% to $56.3 million and revenue from all other groups moved up 20.2% to $11.3 million.
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