Media Kit » Try RailPrime™ Today! »
Progressive Railroading
Newsletter Sign Up
Stay updated on news, articles and information for the rail industry

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

View Current Digital Issue »


Rail News Home Financials


Rail News: Financials

The Andersons, Trinity and Portec Rail report earnings


Three more rail industry suppliers released second-quarter financial results yesterday.

The Andersons Inc. Rail Group — which leases and repairs freight cars — reported revenue of $42 million and operating income of $6.9 million, up 50 percent and 26 percent, respectively, compared with second-quarter 2006. The group's car fleet increased by about 16 percent, but utilization rate decreased slightly.

Trinity Industries Inc. reported revenue increased 5 percent year over year to $892.6 million — the car builder’s highest-ever quarterly revenue. However, net income decreased 5 percent to $68.7 million. Subsidiary TrinityRail shipped 6,980 rail cars and obtained orders for 3,080 cars during the second quarter. As of June 30, the subsidiary’s backlog totaled 33,880 cars valued at $2.8 billion compared with a 29,320-car backlog on June 30, 2006. Also, Trinity Industries Leasing Co.’s fleet as of June 30 totaled 34,670 cars vs. 27,200 cars a year earlier.

Portec Rail Products Inc. reported unaudited net income of $1.9 million, a 24 percent increase compared with second-quarter 2006. Net sales rose slightly to $29.1 million. The company — which supplies rail joints, anchors, spikes, railway friction-management products, and wayside data collection, data management and load securement systems — recently noted issues affecting the “useful life and performance” of a portion of its insulated rail joint products, according to a prepared statement. The firm has “identified the scope of the deficiencies” and managers are developing a replacement program with customers, Portec Rail said.

Contact Progressive Railroading editorial staff.

More News from 8/2/2007