Trinity Industries Expects Revenue And Margin Improvement In 2023

(RTTNews) - Trinity Industries, Inc. (TRN) said it expects 2023 EPS of $1.50 to $1.70 excluding items outside of core business operations. The company targets industry deliveries of 40,000 to 45,000 railcars for the year.

"We ended the year with revenue up 30% over 2021, a backlog of $3.9 billion, and adjusted EPS of $0.94, up 176% over 2021 despite unexpected headwinds in 2022," said Trinity's CEO, Jean Savage.

Fourth quarter income per share from continuing operations was $0.46 compared to $0.16, prior year. Excluding items, Trinity Industries reported adjusted earnings of $36.9 million or $0.44 per share for the period. Analysts on average had expected the company to earn $0.45 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 25.2% to $591.2 million from $472.2 million last year.

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