DALLAS — Third-quarter revenue declined but operating profit improved for railcar builder Trinity Industries.
Revenues were $799 million for the third quarter ended Sept. 30, down from $821 million in the same quarter a year ago.
The company said in an earnings release that lower deliveries of 4,360 railcars was partially offset by favorable pricing and more outside repair work.
Trinity took in orders for 1,810 new railcars.
Operating profit totaled $122 million, up from $100 million on improved railcar lease rates and improved efficiencies in the Rail Products Group. Net income rose to $37 million from $25 million. Adjusted earnings per share was $.43, compared with $.26 a year ago.
The company forecast full-year earnings of $1.70-1.80 per share.
— This article originally appeared at FreightWaves.com.
