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Rail News: Rail Industry Trends

Trinity's quarterly total echoes rail-car backlog revival


A few days after American Railway Car Institute Committee of Railway Progress Institute reported that second-quarter rail-car orders increased to 6,973 — the highest quarterly total since first-quarter 2001 — and the quarterly backlog totaled 9,281 cars, surpassing first-quarter 2002's 6,443 cars and fourth-quarter 2001's 8,089 cars, Trinity Industries Inc. July 24 reported a 1,800 second-quarter rail-car backlog, which increased 140 percent compared with the first quarter.

"The rail-car industry had the first growth in backlog in fourteen quarters," said Timothy Wallace, Trinity chairman, president and chief executive officer, in a prepared statement. "During the second quarter, our North American rail-car shipments were at their lowest point in over twelve years and we believe we hit the bottom of the cycle — orders for North American rail cars dramatically improved during this time period."

Trinity also reported a quarterly net loss of $5.7 million on revenues of $366 million, compared with a net income of $9.6 million on revenues of $467.6 million in second-quarter 2001.

For the first half, Trinity posted a net loss of $14.3 million on revenues of $750.3 million, compared with a net loss of $30.1 million on
revenues of $886.3 million during the same period last year.

Contact Progressive Railroading editorial staff.

More News from 7/25/2002