Trinity Industries Earnings: Here’s Why the Stock is Rising Now
Trinity Industries Inc. (NYSE:TRN) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2.06%.
Trinity Industries Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 26.19% to $1.06 in the quarter versus EPS of $0.84 in the year-earlier quarter.
Revenue: Rose 3.67% to $1.07 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Trinity Industries Inc. reported adjusted EPS income of $1.06 per share. By that measure, the company beat the mean analyst estimate of $0.96. It beat the average revenue estimate of $1.02 billion.
Quoting Management: “As reflected by our consolidated results, Trinity maintained its positive momentum during the second quarter, and we expect this trend to continue throughout the year,” said Timothy R. Wallace, Trinity’s Chairman, CEO, and President. “Our Rail Group, Energy Equipment Group, and Construction Products Group each recorded solid operating results compared to prior quarters. I am pleased with their results. We continued to receive orders for products that serve the oil, gas, and chemical industries. The amount of backlog visibility we have in our major businesses provides us opportunities to continue to generate additional operating efficiencies. Our outlook for the future remains positive.”
Key Stats (on next page)…