Trinity Industries Results Top Estimate; Lifts FY Guidance

(RTTNews) - Trinity Industries Inc (TRN) Tuesday reported third-quarter net earnings of $149.4 million or $0.90 per share compared with $99.6 million or $0.63 per share last year.

Revenues for the quarter were up 41% at $1.56 billion compared with $1.11 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.85 per share on revenues of $1.50 billion for the quarter. Analysts' estimates typically exclude special items.

In August, Trinity completed the acquisition of the assets of Meyer Steel Structures, a part of the ABB Group, for $593 million.

The company's rail group received orders for 14,120 new railcars during the quarter resulting in a backlog of 51,725 units with a value of $6.1 billion.

For the fourth quarter, Trinity projects earnings of $0.75 to $0.83 per share, including the impact of the Meyer acquisition. Analysts expect earnings of $0.87 per share.

For the full year, the company expects earnings of $4.08 and $4.16 per share, from prior guidance of $3.90 to $4.10 per share. Analysts expect earnings of $4.15 per share.

Trinity Industries provides various products for the energy, transportation, chemical, and construction sectors.