American Railcar Q3 Profit Rises, Beats View; But Revenues Decline

(RTTNews) - American Railcar Industries Inc (ARII) Wednesday reported third-quarter net earnings of $23.82 million or $1.12 per share, higher than $20.97 million or $0.98 per share last year.

On average, analysts polled by Thomson Reuters estimated earnings of $1.01 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter declined 18 percent to $162.84 million from $198.90 million in the prior year. Analysts had a consensus revenue estimate of $167.99 million.

The decrease in revenues was primarily driven by decreased manufacturing revenues due to a higher mix of railcars shipped for the company's lease fleet relative to direct sale shipments.

The company shipped 2,151 railcars in the quarter.