Trinity Railcar Leasing Q3 Profit Up 33%
Trinity Industries reported that during the third quarter of 2012, its Railcar Leasing and Management Services Group revenues of $136.5 million compared to $123.8 million in the third quarter of 2011 due to continued growth in the lease fleet and higher rental rates.
In addition, the group recognized revenue of $23.4 million in sales of railcars from the lease fleet during the third quarter. Operating profit for this group was $85.1 million for the third quarter of 2012 compared to operating profit of $64.2 million during the third quarter of 2011.
Trinity said included in the operating results for the third quarter of 2012 was $21.3 million of profit from railcar sales. For the same period last year, the operating results included $6.5 million of profit from railcar sales.
To read the Trinity Industries news release click here.