WASHINGTON (dpa-AFX) - Trinity Industries Inc. (TRN) Wednesday reported a sharp increase in profit for the second quarter, due mainly to higher revenues.
The Dallas, Texas-based company reported second-quarter net profit attributable to Trinity Industries Inc. of $67.8 million or $0.84 per share, compared to $30.0 million or $0.37 per share last year. On average, seven analysts polled by Thomson Reuters expected the company to earn $0.73 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew 45% to $1.03 billion from $708.3 million in the prior-year quarter, while six analysts had a consensus revenue estimate of $996.18 million for the quarter.
The company's earnings guidance for the second half of 2012 is between $1.45 and $1.60 per common share, including approximately $0.08 to $0.10 per common share of costs expected to be incurred as the company repositions a portion of its production capacity.
When combined with the strong earnings of $1.50 per common share in the first half of the year, the company's full year earnings guidance is between $2.95 and $3.10 per common share compared to its previous guidance of between $2.55 and $2.70 per common share.
Analysts now expect earnings of $2.74 per share for the full year.
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