Trinity Industries reports Q2 EPS 19c vs. 67c last year

Reports Q2 revenue $506M vs. $841.4M last year. “Our Q2 results highlight the robust performance of our leasing business and Trinity’s capability to generate substantial cash flow,” stated CEO Jean Savage. “We are seeing recovery in new railcar demand as sequential order volumes improved, and we generated a book-to-bill of 1.3x…In keeping with our capital allocation strategy, we capitalized on favorable market conditions and repurchased shares worth $39M year-to-date to further optimize our balance sheet position. We are maintaining our full year EPS guidance of $1.40 to $1.60, which reflects our expectation of improved deliveries from second quarter levels and continued improvement across the business in the second half of the year.”