Trinity Industries, Inc. released its fourth-quarter earnings late Wednesday, Feb. 18, 2015, which one Wall Street analyst defined as "solid" results.
Dallas-based Trinity Industries reported fourth-quarter net income "attributable to Trinity stockholders" of $138.2 million, or 86 cents per diluted share, up from $112.8 million, or 72 cents per diluted share, in the fourth quarter of 2013. Earnings per share exceeded Wall Street analyst expectations of 83 cents. Fourth-quarter revenue of $1.7 billion was up 32% from the year-ago quarter's $1.3 billion.
For 2014, Trinity notched "record net ncome attributable to Trinity stockholders" of $678.2 million, or $4.19 per diluted share, up sharply from net income of $375.5 million, or $2.38 per diluted share, in 2013. Revenue in 2014 was $6.2 billion, up 41% from $4.4 billion in 2013.
"During 2014, we utilized the strengths of our integrated business model to achieve record financial results, with all of our business segments reporting higher revenue and profit," said Chairman, CEO, and President Timothy R. Wallace. "Our Rail Group received a record number of orders in 2014, and its $7.2 billion order backlog provides significant production visibility. "
"On a unit basis, TRN's book-to-bill came in at 2.1x, slightly better than the industry book-to-bill of 2.0x," said KeyBanc Capital Markets Inc. analyst Steve Barger in a note to clients late Wednesday. "TRN's total backlog now stands at $8.1 billion, up 14% sequentially and 36% [year-over-year]."