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Rail News: Financials

Portec Rail, FreightCar America, TrinityRail and The Andersons ring up more sales

Earlier this week, one rail industry supplier, two freight-car builders and one car lessor reported third-quarter financial results.

Portec Rail Products Inc.'s net sales climbed 15 percent to $28 million and unaudited net income jumped 57 percent to $1.9 million compared with third-quarter 2006's totals.

Portec Rail supplies rail joints, anchors and spikes; railway friction management products; railway wayside data collection and data management systems; and load securement systems.

FreightCar America, Inc.'s sales reached $162.1 million and net income totaled $8.7 million compared with $395.8 million and $36.8 million, respectively, in third-quarter 2006.

The income drop "reflects lower volume and the impact of a more competitive pricing environment, FreightCar America officials said in a prepared statement.

Rail-car orders totaled 1,262 units vs. 2,262 units in the second quarter and 357 units in third-quarter 2006. The company's backlog fell to 4,930 units as of Sept. 30 compared with 5,589 units on June 30 and 12,176 units on Sept. 30, 2006.

Meanwhile, Trinity Industries Inc.'s TrinityRail subsidiary delivered 7,070 rail cars and received orders for 4,500 units during the third quarter. The subsidiary's backlog on Sept. 30 totaled 31,300 cars valued at $2.6 billion vs. 32,200 cars valued at $2.5 billion on Sept. 30, 2006. Trinity Industries Leasing Co.'s fleet on Sept. 30 totaled 35,890 cars compared with 29,200 cars a year earlier.

The Andersons Inc. Rail Group's lease fleet stood at 22,600 cars and locomotives on Sept. 30 compared with 20,400 cars and locomotives in September 2006. The group's operating income climbed from $4.9 million to $5.8 million and revenue jumped from $27 million to $34 million year over year.

Contact Progressive Railroading editorial staff.

More News from 11/2/2007