Trinity backlog grows to $2.4 billion

Trinity Industries, Inc. has reported third-quarter net income of $31.9 million, compared with $39.7 million for the same quarter of 2010. Revenue for the third quarter was $796.8 million compared with $540.0 million for the prior-year period. The company reported an operating profit of $105.4 million in the third quarter of 2011 compared with an operating profit of $91.9 million for the same quarter last year.

The Rail Group reported revenue of $320.9 million and an operating profit of $18.2 million, compared with revenue of $131.0 million and an operating profit of $3.3 million in the third quarter of 2010. The group shipped approximately 3,605 railcars and received orders for approximately 4,250 railcars during the third quarter. As of Sept. 30, the Rail Group backlog grew to approximately $2.4 billion, representing approximately 27,885 railcars, compared with a backlog of approximately $2.2 billion as of June 30, 2011, representing approximately 27,240 railcars.

Timothy R. Wallace, Trinity’s chairman, CEO, and president, said in a statement: “The order backlogs in both our North American railcar and barge businesses increased during the third quarter, providing a nice foundation for our 2012 planning activities. Our Rail Group is beginning to achieve increased operating leverage associated with strong revenue growth which should have a positive impact on earnings going forward. Our wind towers business is in the latter stages of transitioning production lines over to a larger wind tower, and we expect their performance will begin to show improvement.”

The Railcar Leasing and Management Services Group reported revenue of $153.1 million and an operating profit of $64.2 million for the third quarter, compared with revenue of $122.1 million and an operating profit of $52.9 million during the third quarter of 2010.