WASHINGTON (dpa-AFX) - Trinity Industries, Inc. (TRN) announced, for the full year of 2016, the company now anticipates earnings per share of between $2.00 and $2.30 compared to its previous guidance of between $2.00 and $2.40 per share. The company said the reduction in the upper end of the earnings guidance range is due to a lower expected level of sales of leased railcars than previously provided.
The company's current earnings guidance incorporates the sales of between $300 million and $400 million of leased railcars during 2016 compared to its previous guidance of approximately $500 million.
Trinity said, in the current market environment, the company is closely evaluating the current returns it may earn from selling portfolios of leased railcars compared to retaining the leased railcars in its wholly-owned lease fleet. During the first quarter, proceeds from the sales of leased railcars totaled $22.8 million and resulted in $0.03 per share of earnings.
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