Trinity Industries Updates FY18 Guidance – Quick Facts
Trinity Industries, Inc. (TRN) announced, for the full year 2018, the company anticipates earnings of between $1.15 and $1.35 per share, excluding transaction costs of approximately $25 million that the company expects to incur related to the potential spin-off and with a revised effective tax rate of 24% as a result of the Tax Cuts and Jobs Act. Total earnings for the full year 2018, including the additional transaction costs, are anticipated to be between $1.00 and $1.20 per share. This compares to the previous guidance of between $0.90 and $1.25 per share which did not include any spin-off related costs and assumed an effective tax rate of 36%.
The company now anticipates 2018 railcar deliveries of 20,500, compared to deliveries of 18,395 railcars in 2017. The company also anticipates sales of leased railcars of approximately $350 million in 2018.
Fourth-quarter adjusted earnings per share was $0.43. Revenues totaled $906.4 million compared to $1.1 billion, last year. In the fourth quarter of 2017, the Rail Group reported revenues of $647.2 million compared to revenues of $816.4 million in the fourth quarter of 2016.
Fourth-quarter Railcar deliveries and orders totaled 6,150 and 3,180 railcars, respectively, in the Rail Group, compared to 7,435 and 1,985 railcars, respectively, prior year. Completed sales were $206.3 million of leased railcars during the quarter with associated earnings per share of $0.18 compared to no sales, a year ago.
by RTT Staff Writer
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