Trinity Increases 2017 Earnings Guidance - Quick Facts

(RTTNews) - Trinity Industries, Inc. (TRN) announced, for the fourth quarter of 2017, the company anticipates earnings of between $0.35 and $0.45 per common share. This results in full year 2017 earnings guidance of between $1.41 and $1.51 per share compared to its previous guidance of between $1.10 and $1.30 per share. For the full year 2018, the company anticipates earnings of between $0.90 and $1.25 per common diluted share.

Trinity Industries reported net income attributable to stockholders of $66.9 million, or $0.43 per common share, for the third quarter ended September 30, 2017. Net income for the same quarter of 2016 was $84.2 million, or $0.55 per common share. Revenues for the third quarter of 2017 totaled $973.6 million compared to revenues of $1.1 billion for the same quarter of 2016.

Timothy Wallace, Trinity's CEO, said: "Our financial results for the third quarter were better than we expected, primarily due to the performance of our railcar leasing business. Profit for the railcar leasing business increased 50% year-over-year, resulting from solid operating results and a significant volume of leased railcar sales. In general, the market environment for many of our businesses remains highly challenging."