Trinity Industries shares jump after 2Q beat

Shares of Trinity Industries Inc. rose Thursday after the industrial manufacturer reported second-quarter earnings that topped expectations on Wall Street, and it raised its outlook for the year.

The Dallas-based company, which makes products such as railroad cars and wind turbines, earned $85.6 million, or $1.06 per share, up 25 percent from $68.7 million, or 85 cents per share, in the year-ago quarter.

Revenue increased by 6 percent to $945.5 million, from $892.6 million a year earlier.

Sales were led by Trinity's energy equipment group, which reported a 58 percent jump in revenue from a year earlier.

Analysts were expecting, on average, 86 cents per share on revenue of $957.6 million, according to a poll by Thomson Financial.

For the third-quarter, the company expects earnings from continuing operations of 91 cents per share to 96 cents per share. Wall Street predicts 81 cents per share.

The company also raised its outlook for the full year. It now predicts profit from continuing operations of $3.45 to $3.55 per share, compared with a previous forecast of between $3.20 and $3.45 per share. Analysts expect $3.26 per share.

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Wachovia Capital Markets analyst Wendy B. Caplan, who rates Trinity "Market Perform," said the company's wide range of rail car types will allow it to withstand swings in demand in that market.

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Caplan also predicts that its expanded leasing business could offset some points of lower demand for rail cars.

"For the first time in our memory, all of Trinity's "long, metal products" — barges, guardrails, wind towers and railcars — are moving in the right direction at the same time," she said.

Shares rose $3.31, or 9.2 percent, to $38.59 in afternoon trading. The stock has changed hands between $21.91 and $41.15 in the past year.