Thursday, August 25, 2016

Trinity Industries Reported Much Lower Tank Barge Construction

In its Q2 results:

Revenues decreased for the three and six months ended June 30, 2016 by 37.0% and 32.8%, respectively, compared to the same periods in 2015 primarily from lower volumes of tank barge shipments. Cost of revenues decreased by 29.6% and 26.3% for the three and six months ended June 30, 2016, respectively, when compared to the same periods in 2015 due to lower volumes and product mix changes. Selling, engineering, and administrative costs decreased for the three and six months ended June 30, 2016 compared to the same periods in 2015, primarily due to lower compensation costs.

As of June 30, 2016, the backlog for the Inland Barge Group was $251.0 million compared to $454.0 million as of June 30, 2015.

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