Trinity Industries announced that during the third quarter of 2013, the Railcar Leasing and Management Services Group reported leasing and management revenues of $150.6 million compared to $136.5 million in the third quarter of 2012 due to continued growth in the lease fleet and higher rental rates.

Trinity said the group had no sales of railcars from the lease fleet owned for less than a year during the third quarter compared to $23.4 million in the third quarter of 2012. Proceeds from the sale of railcars from the lease fleet owned for more than a year at the time of sale are not included in revenue and totaled $20.2 million in the third quarter of 2013 and $60.8 million in the third quarter of 2012.

Operating profit for this Group was $74.0 million for the third quarter of 2013 compared to an operating profit of $85.1 million during the third quarter of 2012. Included in the operating results for the third quarter of 2013 was $1.6 million of profit from railcar sales totaling $20.2 million compared to $21.3 million of profit from railcar sales totaling $84.2 million for the same period last year. Operating profit from operations, which excludes profit from railcar sales, increased for the three months ended September 30, 2013 compared to the same period last year due to higher rental rates and lease fleet growth.

To read the Trinity Industries news release click here.