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<< Rail News Home: Mechanical

5/5/2006    Freight-Car Market

Rail News: Mechanical

Trinity, Andersons' Rail Group add cars to lease fleets in first quarter

Earlier this week, Trinity Industries Inc. reported first-quarter revenue of $760.9 million, an 18 percent increase compared with first-quarter 2005. The company’s quarterly earnings rose more than 600 percent to $37 million.

During the quarter, Trinity received North American orders for 12,941 rail cars — the most in a quarter since 1998. The company also delivered 6,164 cars in North America, the most since 1999, and added more than 1,800 new cars to its lease fleet, which now numbers 26,000 units.

Meanwhile, The Andersons Inc.’s Rail Group increased its lease fleet by about 3,100 cars and boosted its utilization rate on a year-over-year basis during the quarter. Quarterly operating income of $6.2 million increased 70 percent and revenue of $34.4 million nearly doubled compared with first-quarter 2005. The group’s car repair and manufacturing businesses boosted income primarily because a Mississippi plant repaired cars damaged by last summer’s hurricanes.

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