Trinity Industries (TRN) Reports In-Line Q1 EPS, Miss on Revenues; Boosts FY18 EPS Mid-Point Guidance

Trinity Industries (NYSE: TRN) reported Q1 EPS of $0.26, in-line with the analyst estimate of $0.26. Revenue for the quarter came in at $831.3 million versus the consensus estimate of $895.1 million.

• Earnings per common diluted share of $0.26 compared to $0.30 per share in 2017
• Earnings per share includes $7.9 million, or $0.04 per share, of transaction costs incurred related to the planned spin-off transaction, resulting in adjusted earnings per common diluted share of $0.30
• Railcar deliveries and orders totaling 5,725 and 4,705 railcars, respectively, in the Rail Group, compared to 3,770 and 970 railcars, respectively, in 2017
• Inland Barge Group receives orders with a value of $57.1 million
• Repurchases of common stock totaling $50.0 million under the current authorization
• Issues notice to call $449.4 million convertible subordinated notes on June 1, 2018
• Anticipates full year 2018 earnings per common diluted share of between $1.20 and $1.40, excluding spin-off related transaction costs of approximately $30 to $35 million, compared to previous earnings guidance of between $1.15 and $1.35 per share, excluding spin-off related transaction costs of approximately $25 million

GUIDANCE:

Trinity Industries sees FY2018 EPS of $1.20-$1.40, versus the consensus of $1.32.

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

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