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Trinity Industries’ Profit Rises 74%

February 21st, 2013

Trinity Industries reported its net income in 2012 was $253.7 million, up 74.1% from $145.7 million in 2011.

Net income attributable to Trinity stockholders was $255.2 million, or $3.19 per common diluted share, in 2012, compared with net income attributable to Trinity stockholders of $142.2 million, or $1.77 per common diluted share, in 2011.

Annual revenue rose 29.7% from $2.9 billion in 2011 to $3.8 billion in 2012.

The company’s net income in the fourth quarter of 2012 was $70.8 million, rising 24.4% from $56.9 million in the fourth quarter of 2011.

Net income attributable to Trinity stockholders was $71.3 million, or $0.90 per common diluted share, for the fourth quarter of 2012, compared with net income attributable to Trinity stockholders of $56.1 million, or $0.70 per common diluted share, in the fourth quarter of 2011.

Quarterly revenue was $1.0 billion, increasing 10.8 percent from $914.3 million in the same quarter in the previous year. Operating profit was $158.9 million, an increase of 14% compared with an operating profit of $139.5 million for the same quarter in the previous year.

Trinity’s Rail Group received orders for 5,620 new railcars during the fourth quarter, increasing the backlog to 31,990 units with a value of $3.7 billion. The unit shipped 4,960 railcars during the fourth quarter and 19,360 railcars during the full year.

The Railcar Leasing and Management Services Group reported leasing and management revenues in the fourth quarter of $132.6 million, up from $127.4 million in the same quarter of 2011. The company attributed the increase to continued growth in the lease fleet and higher rental rates. In addition, the business unit recognized revenue of $18.1  million in sales of railcars from the lease fleet during the fourth quarter, down from $29.2 million in the same quarter the year before.

“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, in a written statement.

“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.

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