American Railcar Industries (ARI) announced that railcar leasing revenues were $22.3 million for Q4/14, an increase of 134% over the $9.5 million for the comparable period in 2013. ARI said the primary reasons for the increase in revenue were an increase in the number of railcars on lease and higher average lease rates. ARI had 7,730 railcars in its lease fleet at the end of 2014, compared to approximately 4,450 railcars at the end of 2013.

Railcar leasing earnings from operations were $13.0 million in Q4/14 compared to $4.9 million for the same period in 2013. This increase was due to the growth in the number of railcars in the company’s lease fleet and higher average lease rates.

“Our railcar leasing segment was also a strong contributor to our increased consolidated operating margins. We remain committed to the growth of our lease fleet to further diversify our business as demonstrated by the 74% growth in our lease fleet from December 31, 2013 to December 31, 2014. Our backlog of 11,732 railcars at December 31, 2014 is at its highest point since December 2007 and includes 2,844 railcars being manufactured for lease,” said Jeff Hollister, president and CEO of ARI.

To view the full American Railcar Industries news release, click here.