Dallas-based Trinity Industries late Wednesday, Feb. 19, 2014, reported fourth-quarter net income of $112.8 million, or $1.44 per share, up from $71.3 million, or 90 cents a share, in the comparable quarter of 2012. That beat Wall Street analyst consensus estimates of $1.41 per share by three cents.
Fourth-quarter revenue rose 24% to $1.26 billion from $1.01 billion in the same quarter of 2012, also topping Wall Street expectations. Company guidance for 2014, offered late Wednesday,
The company's rail group revenue rose 50% to a record of $856 million. The rail group shipped 7,280 railcars and received orders for 7,125 railcars during the fourth quarter, resulting in a backlog of 39,895 units with a value of $5.0 billion.
"We achieved a number of key financial milestones, reporting record revenues, net income and earnings per share for both the fourth quarter and the full year. I am very proud of our people, whose capabilities and hard work enabled us to realign a portion of our manufacturing capacity to serve customers for products in the oil, gas, and chemical industries," Chairman, President and CEO Timothy Wallace said in a statement.
For fiscal 2013, Trinity Industries reported net income of $375.5 million or $4.75 per share, higher than $255.2 million, or $3.19 per share, it reported in 2012. Revenue for the full year rose 15% to $4.37 billion from $3.81 billion in the previous year. Analysts expected the company to report full-year 2013 earnings of $4.65 per share on annual revenue of $4.35 billion.