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As of 8:04 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

trinity industries inc (TRN) Key Developments

Trinity Industries Inc. Declares Quarterly Dividend, Payable October 31, 2014

Trinity Industries Inc. declared quarterly dividend of 10 cents per share on its $1.00 par value common stock. The quarterly cash dividend, representing Trinity's 202nd consecutively paid dividend, is payable October 31, 2014 to stockholders of record on October 15, 2014.

Trinity Industries, Inc. Appoints Antonio Carrillo to its Board of Directors

Trinity Industries Inc. announced the election of Antonio Carrillo to its Board of Directors, effective immediately. The Board's action expands Trinity's Board of Directors from 10 to 11 members. Since 2012, Mr. Carrillo has served as Chief Executive Officer of Mexichem S.A.B.

Trinity Industries Mulls Acquisitions

Trinity Industries Inc. (NYSE:TRN) is looking for acquisitions. James Perry, Senior Vice President and Chief Financial Officer of Trinity Industries Inc. said, "We've clearly been active on the acquisition side. We do continue to have a very strong balance sheet to pursue all of the above type strategies as we see opportunities."

Trinity Industries Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Revised Earnings Guidance for the Full Year of 2014

Trinity Industries Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net income of $173.1 million, net income attributable to the company was $164.2 million or $1.05 per basic share and $1.01 per diluted share on Revenue was $1,485.3 million against net income of $88.2 million, net income attributable to the company was $84.0 million or $0.52 per basic and diluted share on Revenue was $1,066.1 million a year ago. Operating profit was $302.0 million compared to $183.4 million a year ago. Income before income taxes was $257.2 million compared to $136.4 million a year ago. Net income from continuing operations was $173.3 million or $1.05 per basic share and $1.01 per diluted share against net income from continuing operations was $89.2 million or $0.53 per basic and diluted share a year ago. Earnings from continuing operations before interest expense, income taxes, and depreciation and amortization expense was $359.8 million compared to $235.3 million a year ago. Second quarter 2014 results benefitted from a lower effective tax rate of 32.6% primarily due to certain domestic manufacturing tax deductions, lower state taxes, and the partnership tax status of the Company's non-controlling interests. For the six months, the company reported net income of $406.1 million, net income attributable to the company was $390.6 million or $2.51 per basic share and $2.43 per diluted share on Revenue was $2,945.8 million against net income of $167.0 million, net income attributable to the company was $163.1 million or $1.03 per basic and diluted share on Revenue was $1,999.0 million a year ago. Operating profit was $693.3 million compared to $342.9 million a year ago. Income before income taxes was $603.0 million compared to $249.8 million a year ago. Net income from continuing operations was $406.6 million or $2.51 per basic share and $2.43 per diluted share against net income from continuing operations was $161.4 million or $0.99 per basic and diluted share a year ago. Net cash provided by operating activities was $157.4 million compared to $273.6 million a year ago. Capital expenditures - leasing, net of sold railcars owned one year or less with a net cost of $257.6 and $15.5 was $49.5 million and capital expenditures - manufacturing and other was $107.5 million against capital expenditures - leasing, net of sold railcars owned one year or less with a net cost of $257.6 and $15.5 was $308.5 million and capital expenditures - manufacturing and other was $57.4 million a year ago. Earnings from continuing operations before interest expense, income taxes, and depreciation and amortization expense was $807.2 million compared to $447.9 million a year ago. The company anticipates earnings for the full year of 2014 of between $3.90 and $4.10 per common diluted share compared to its previous 2014 earnings guidance of between $3.50 and $3.75 per share. This compares to full year earnings per common diluted share of $2.38 in 2013 and does not include any effects of the Meyer acquisition. In 2014, the company expects its Rail Group to generate revenues of $3.6 billion to $3.75 billion with an operating margin of 18% to 19%. The company expects its Leasing Group to record operating revenue of $620 million to $635 million with operating profit from operations of $270 million to $285 million. In 2014, company also expects the Leasing Group to sell approximately $665 million to $690 million of leased railcar from the lease fleet, of which $425 million to $450 million will be recorded as revenues. The total operating profit associated with these sales is expected to range between $205 million and $215 million. The company expects its Construction Products Group to record revenues of $540 million to $565 million with an operating margin of 13% to 14.5%. Inland Barge Group is expected to have revenues of $640 million to $660 million with an operating margin of 16.5% to 17.5%. The company expects its Energy Equipment Group to produce revenues of $880 million to $910 million with an operating margin of 11.5% to 12.5%. Corporate expenses are expected to range from $100 million to $110 million for the year as a result of its growing business operations and acquisition as well as certain legal expenses. For 2014, the company expects to eliminate between $720 million and $745 million of revenue and defer between $130 million and $140 million of operating profit due to the addition of new railcars to the wholly and partially-owned lease fleets. This guidance range also includes certain Rail Group sales to the Leasing Group that are ultimately sold to Element. The company spent between $310 million and $330 million of revenue eliminations for other intercompany transactions. For the purposes of the calculation of guidance EPS, the company is assuming a tax rate of 33% for the remainder of 2014. Full year guidance ranges reflect year-over-year revenue growth of approximately 30% to 40% -- 30% to 35%, with earnings per share growth of approximately 60% to 70% compared to 2013. Full year manufacturing and corporate capital expenditures for 2014 are expected to be between $250 million and $300 million.

Trinity Industries Inc. Presents at Jefferies 2014 Global Industrials Conference, Aug-14-2014 02:30 PM

Trinity Industries Inc. Presents at Jefferies 2014 Global Industrials Conference, Aug-14-2014 02:30 PM. Venue: Grand Hyatt, 109 E. 42nd St., New York, New York, United States. Speakers: Gail M. Peck, Vice President and Treasurer, Jessica L. Greiner, Director of Investor Relations.

 

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TEV/Sales 0.6x
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