After 44 years at the company, Trinity Industries, Inc. President and CEO Timothy R. Wallace has announced his retirement. Wallace has agreed to continue in his current roles “for as long as necessary to facilitate a smooth transition,” the company said. “The Trinity Board is initiating a search to identify Mr. Wallace’s successor and will consider both internal and external candidates.”
Trinity Industries, Inc. recently announced that its subsidiary, TrinityRail Maintenance Services, Inc. (TRMS), has agreed to purchase land for the construction of a new maintenance facility in Shell Rock, Iowa.
Trinity Industries on April 25 announced its first-quarter 2019 earnings results, which “show a strong improvement and continued growth of the owned/leased railcar portfolio, progress toward its goal of balance sheet optimization and a continued focus of returning capital to shareholders.”
Trinity Industries, Inc., in announcing financial results for the fourth quarter and full year ended Dec. 31, 2018, reported that its Rail Products Group posted railcar orders and deliveries of 8,045 and 5,285, respectively, during the fourth quarter, compared to orders and deliveries of 3,180 and 6,150, respectively, during the same period last year. The railcar backlog at year’s end stood at $3.6 billion, compared to $2.2 billion on Dec. 31, 2017.
Analyst Cowen and Co. this week hosted its quarterly rail equipment conference call with expert panelists across the industry spectrum.
Reporting on Cowen and Co.’s just-concluded 10th Annual Global Transportation Conference, analyst Matt Elkott said that railcar demand recovery is “likely sustainable but not at the same level as second-quarter 2017.” Cowen is projecting third-quarter 2017 orders for 9,400 units, below the second quarter’s 12,000 but significantly higher than the first quarter’s 4,800 and similarly low prior levels.
Demand for new freight cars is on the rise, and builders appear to be aggressively using pricing tools to take advantage of the recovery and retain or increase market share, according to market research conducted by Cowen and Company analyst Matt Elkott.
Car builder Trinity Industries on Tuesday said revenue and profits declined on “significantly lower” railcar deliveries in the first quarter of 2017 compared to the year-ago quarter.
Trinity Industries, Inc. released its fourth-quarter earnings late Wednesday, Feb. 18, 2015, which one Wall Street analyst defined as “solid” results.