Trinity Industries notes 4Q08, full-year results

Written by William C. Vantuono, Editor-in-Chief

Trinity Industries says it achieved “strong fourth-quarter and full-year results” in 2008, but TrinityRail’s order backlog was substantially lower at year's end.

The company reported fourth-quarter net income of $44.8 million on revenue of $883.8 million, compared with net income of $78.3 million on revenue of $1.1 billion in the fourth quarter of 2007.

TrinityRail’s order backlog on Dec. 31, 2008, was approximately 8,260 cars valued at $720 million, down from a backlog of 31,870 cars valued at $2.7 billion.

Trinity Industries Leasing Co. grew by 3,940 railcars in the fourth quarter of 2008 to a total fleet of 36,090 cars. Fleet utilization wa sat 98.6% on Dec. 31, down from 99.2% a year earlier.

For full-year 2008, Trinity reported earnings from containing operations of $287.3 million on revenue that reached a company record of $3.9 billion, compared with 2007 earnings of $285.8 million on revenue of $3.85 billion.