American Railcar Industries (ARII) Tops Q2 EPS by 10c, Revenue Misses, Approves Buyback

American Railcar Industries (NASDAQ: ARII) reported Q2 EPS of $1.52, $0.10 better than the analyst estimate of $1.42. Revenue for the quarter came in at $192 million versus the consensus estimate of $230.19 million.

Stock Repurchase Program

On July 28, 2015, the Company's Board of Directors authorized a stock repurchase program (the "Stock Repurchase Program") pursuant to which the Company may, from time to time, repurchase up to $250 million of its common stock. As part of the Stock Repurchase Program, shares may be purchased in open market transactions including through block purchases, through privately negotiated transactions, pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934 (the "Exchange Act"), through tender offers or otherwise in accordance with applicable federal securities laws, including Rule 10b-18 of the Exchange Act on terms to be determined from time to time.

The Stock Repurchase Program will end upon the earlier of the date on which the plan is terminated by the Board or when all authorized repurchases are completed. The Stock Repurchase Program does not obligate the Company to purchase any particular amount of common stock at any particular price or at all. The Stock Repurchase Program may be suspended, modified, or terminated by the Company's Board of Directors at any time for any reason.

Backlog

ARI's backlog as of June 30, 2015 was 8,454 railcars with an estimated value of $879.7 million. Of the total backlog, 1,454, or 17%, were railcars subject to lease with an estimated market value of $155.1 million. Management expects that the Company's lease fleet will exceed 10,000 railcars by the end of 2015.

For earnings history and earnings-related data on American Railcar Industries (ARII) click here.

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