Pat: It appears that for the medium term, oil by rail will be the transport system of choice, despite the recent disasters and near-disasters. On that line, what is your opinion of Trinity Industries Inc. and American Railcar? Thanks.
Trinity Industries Inc., $59.29, symbol TRN on New York (Shares outstanding: 78.1 million; Market cap: $4.6 billion; www.trin.net), makes a variety of metal products for many industries.
Its five main operating segments are: Rail (railcars and components), Construction Products (highway-safety products, concrete and aggregates like sand, gravel and crushed stone), Inland Barge (barges), Energy Equipment (wind turbines) and Railcar Leasing and Management.
In the three months ended September 30, 2013, Trinity’s revenue rose 22.4%, to a record $1.1 billion from $907.3 million a year earlier. Earnings per share also set a record, jumping 57.5%, to $1.26 from $0.80. The higher sales and cost cutting were behind the gain.
The company’s railcar business remains strong, with 6,225 units shipped in the latest quarter, up 50.2% from 4,145 a year ago. Revenue rose 56.9%, to $718.5 million from $457.9 million. The division’s backlog stands at $5.1 billion (or 40,050 railcars), up 59.3% from $3.2 billion (or 31,330 railcars) a year ago.
Trinity’s…
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