Trinity Industries (NYSE: TRN) reported Q3 EPS of $0.39, $0.02 worse than the analyst estimate of $0.41. Revenue for the quarter came in at $930.9 million versus the consensus estimate of $968.2 million.

• Earnings per common diluted share of $0.19 compared with $0.43 in 2017
• Adjusted earnings per common diluted share of $0.39, excluding $0.20 per share related to an impairment charge in the Energy Equipment Group and transaction costs related to the planned spin-off of Arcosa, Inc.
• Rail Group receives orders for 7,725 railcars with a total value of $944.7 million and delivers approximately 4,000 railcars during the third quarter
• Rail Group expects deliveries of between 20,000 and 21,000 railcars in 2018 and anticipates full year 2019 deliveries of between approximately 22,500 and 24,000 railcars
• Inland Barge Group receives orders of $61.3 million during the third quarter
• Provides initial full year 2019 earnings guidance for Trinity Industries post spin-off of Arcosa, Inc. of between $0.90 and $1.10 per common diluted share

“I am pleased with the continued momentum in market demand experienced by a number of our businesses during the quarter,” said Timothy R. Wallace, Trinity’s Chairman, CEO and President. “Trinity’s consolidated third quarter financial results reflect a variety of market conditions in our businesses as well as activities associated with the anticipated distribution of Arcosa, Inc. to Trinity shareholders on the first of November.”

Mr. Wallace added, “This year marks Trinity’s 85th year as a company, and its 60th year as a public company. As Trinity has grown through the years, our dedicated employees have worked collaboratively to build a strong portfolio of industry-leading businesses. We are proud of Trinity’s history of success and rich corporate culture, which provides an excellent foundation for both Trinity and Arcosa. Arcosa will separate from Trinity with an established platform of leading businesses in the construction, energy, and transportation markets, with long-standing customer relationships and opportunities to grow in attractive markets. Trinity will continue to be a premier provider of rail transportation products and services. Both companies have strong teams, strong balance sheets, and many opportunities for success. We are very excited about the potential for both of these companies.”

GUIDANCE:

Trinity Industries sees FY2019 EPS of $0.90-$1.10, versus the consensus of $1.99.

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