Wednesday, February 20, 2013

Rail Group aids Trinity's 4Q, full-year results

Written by 

Trinity Industries announced Wednesday that Rail Group orders for 5,620 new railcars during the fourth quarter pushed its backlog to 31,990 units valued at $3.7 billion. The Rail Group shipped 4,960 railcars during the fourth quarter and 19,360 during the full year.

That assisted year-over-year fourth-quarter and full-year revenue growth of 11% and 30%, respectively, and earnings per common diluted share growth of 61% and 93%, respectively, after adjusting for one-time items in 2011. Trinity reported net income of $71.3 million, or 90 cents per common diluted share, for the fourth quarter ended Dec. 31, 2012. That was up from net income for the comparable quarter in 2011 of $56.1 million, or 70 cents per common diluted share. Included in the results for the fourth quarter of 2011 was a pre-tax gain of $17.0 million, or 14 cents per common diluted share, due to flood-related insurance settlements.

"I am pleased with our strong financial results for the fourth quarter and our overall performance during 2012," said Timothy R. Wallace, Trinity's chairman, CEO, and president. "We have worked diligently over the past decade to position our company to perform well through a variety of economic conditions.

"During 2013, we will continue to invest resources to position our company to pursue opportunities for infrastructure-related products that support the growing needs in the energy, chemical, transportation, and construction industries," Wallace said. "At this point, we have been successful in obtaining order backlogs in several of our major businesses that will provide long production runs for products serving these industries."