Trinity Industries Reduces Top-end Of Full Year Earnings Guidance

(RTTNews) - Trinity Industries, Inc. (TRN) announced, for the fourth quarter of 2016, the company anticipates earnings of between $0.30 and $0.40 per common share. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.42. Analysts' estimates typically exclude special items.

The company now expects full year 2016 earnings guidance of between approximately $2.10 and $2.20 per share compared to its previous guidance of between $2.00 and $2.30 per share. The company said the reduction in the top-end of full year guidance results from the expectation that it will not conduct sales of leased railcars it owns during the fourth quarter. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.20.

For the first half of 2017, the company anticipates earnings per common share of between $0.45 and $0.60, compared to first half 2016 earnings of $1.25 per share. First half 2016 earnings included $0.21 per share from sales of leased railcars. The company's guidance assumes significant year-over-year volume reductions in its railcar and barge manufacturing businesses. The Rail Group expects first half 2017 deliveries to be approximately 7,000 to 8,000 railcars compared to first half 2016 deliveries of 13,210.

Trinity Industries reported net income attributable to Trinity stockholders of $84.2 million, or $0.55 per common share, for the third quarter ended September 30, 2016. Net income for the same quarter of 2015 was $204.3 million, or $1.31 per common share. Revenues for the third quarter of 2016 totaled $1.11 billion compared to revenues of $1.54 billion for the same quarter of 2015.