Trinity Industries announced operating results for the three and nine month periods ended September 30, 2012:
- "During the quarter, our portfolio of businesses performed well, especially those serving the North American oil, gas, and chemical industries."
- The Inland Barge Group reported revenues of $166.5 million compared to revenues of $143.2 million in the third quarter of 2011. The increase in revenues was due to higher volumes and a change in mix of barge types. The increased volume was partially due to the recovery from flooding that reduced production levels in the third quarter of last year. Operating profit for this Group was $26.9 million in the third quarter of 2012 compared to $26.0 million in the third quarter of 2011. Third quarter 2011 operating profit included a $3.1 million net gain from flood-related insurance recoveries. During the third quarter of 2012, the Inland Barge Group received orders of $162 million, and as of September 30, 2012 had a backlog of $537 million compared to a backlog of $542 million as of June 30, 2012.
- "We continue to see consistent demand for products that transport and store crude oil and other liquids related to the energy industry."
- "The backlogs for our railcar and barge businesses totaled approximately $3.9 billion at the end of the 3rd quarter. The size of these backlogs gives our business leaders production visibility into 2014 for products that serve the oil, gas and chemicals market."
- "Our Barge team did a great job during the quarter bringing in $162 million in new orders and delivering $166 million worth of barges. The effects of Hurricane Isaac, while minor, cost us about 70 basis points in operating profit margin. At quarter's end, our barge backlog remained stable at $537 million. From a market demand perspective, we continue to have mixed conditions. The dry cargo market continues to show weakness as a result of the reduction in domestic coal usage and the poor grain harvest. We are aggressively pursuing new orders but many of our customers remain on the sidelines at this time. On a positive note, the increased movement of petroleum and chemical products has created a robust market for tank barges. We currently have tank barge orders into 2014."