DALLAS, June 19 /PRNewswire-FirstCall/ -- Trinity Industries, Inc. today increased its earnings guidance for the second quarter of 2006 to a range of $0.60 to $0.65 per diluted share. The previously reported guidance for the second quarter was $0.52 to $0.57. All earnings figures above are after taking into account the 3-for-2 stock split that was distributed to shareholders in the form of a 50% stock dividend on June 9th. An update to the annual earnings guidance will be provided on the Company's second quarter conference call.
In addition, the Company will record a one-time gain in the second quarter resulting from the sale of its Fittings business, announced June 9th. This one-time gain is not included in the increased guidance given above.
"All of our business segments continue to perform well, which will result in a stronger second quarter than we anticipated," said Timothy R. Wallace, Trinity's Chairman, President and CEO. "Our rail and barge businesses have exceeded our previous expectations. The weather during the second quarter in the southwestern U.S. has been generally favorable for our Construction Products Group and we have maintained our momentum in the Energy Equipment Group, specifically in the Structural Wind Tower business."
"In addition to our operating gains, Ingram Barge Company has placed the first order under the previously announced long-term agreement," Wallace continued "This order is for 250 barges to be built in 2007 and was not included in the backlog as of March 31, 2006 that we previously reported."
Trinity Industries, Inc., with headquarters in Dallas, Texas, is one of the nation's leading diversified industrial companies. Trinity reports five principal business segments: the Rail Group, the Railcar Leasing and Management Services Group, the Inland Barge Group, the Construction Products Group, and the Energy Equipment Group. Trinity's web site may be accessed at http://www.trin.net/ .
Some statements in this release, which are not historical facts, are "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about Trinity's estimates, expectations, beliefs, intentions or strategies for the future, and the assumptions underlying these forward-looking statements. Trinity uses the words "anticipates," "believes," "estimates," "expects," "intends," "forecasts," "may," "will," "should," and similar expressions to identify these forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from historical experience of our present expectations. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Forward-Looking Statements" in the Company's Annual Report on Form 10-K for the most recent fiscal year.
