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Trinity Industries, Inc. (TRN) Tops Q2 EPS by 24c; Raises Outlook

July 29, 2014 4:22 PM EDT

Trinity Industries, Inc. (NYSE: TRN) reported Q2 EPS of $1.01, $0.24 better than the analyst estimate of $0.77. Revenue for the quarter came in at $1.5 billion versus the consensus estimate of $1.35 billion.

Trinity Industries, Inc. sees FY2014 EPS of $3.90-$4.10, versus prior guidance of $3.5-$3.75 and the consensus of $3.76.

“I am pleased with our strong results for the second quarter and our ability to build upon the positive momentum occurring within Trinity over the last several years,” said Timothy R. Wallace, Trinity’s Chairman, CEO and President. “Consolidated revenues increased 39% year-over-year and net earnings nearly doubled, outpacing revenue growth by a wide margin. The amount of operating leverage we obtained and the record $6.5 billion backlog in our major businesses at the end of the second quarter were impressive.”

Mr. Wallace added, “We believe this momentum and the investments we have made in 2014 position us well. Our recently announced agreement to acquire the assets of Meyer Steel Structures is expected to close in the third quarter, subject to regulatory approval. Meyer’s strong engineering reputation, manufacturing capabilities, and products with high steel content align well with Trinity’s existing competencies and offer opportunities to create additional value. The acquisition will broaden Trinity’s product portfolio and supports our vision of being a premier, diversified industrial company.”

For earnings history and earnings-related data on Trinity Industries, Inc. (TRN) click here.



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