=Trinity Industries (TRN) reported earnings on Wed 24 Oct 2018 (a/h)

Trinity Industries reports Q3 results, offers 2018 Rail Group deliveries guidance, guides stand-alone FY19 EPS

• Co reports Q3 Adj-EPS of $0.39 vs. the $0.41 analyst estimate; revs -4.4% y/y to $930.9 mln vs. the $931.1 mln analyst estimate
• On September 25, 2018, Trinity's Board of Directors formally approved the separation of its infrastructure-related businesses from Trinity through a distribution of all of the common stock of Arcosa held by Trinity to Trinity stockholders. In connection with the approval, the Board set the distribution ratio, record date, and distribution date for the separation. The distribution is expected to be made at 12:01 a.m. local New York City time on November 1, 2018 to Trinity stockholders of record as of 5:00 p.m. local New York City time on October 17, 2018, the record date for the distribution.
• 2018 Guidance
  • For the full year 2018, the Rail Group expects deliveries of between 20,000 and 21,000 railcars. The delivery range incorporates potential rail service and congestion issues and other weather-related delays. As previously disclosed, the Company has withdrawn its full year 2018 earnings per share guidance as it is no longer relevant since it includes full year anticipated earnings expectations for Arcosa. Unless otherwise noted herein, full year 2018 segment guidance has also been withdrawn as the businesses comprising Trinity's current reporting segments will change post spin.
• 2019 Guidance
  • For the full year 2019, the Company currently anticipates earnings for Trinity Industries, post spin-off of Arcosa, of between $0.90 and $1.10 per common diluted share. Additionally, at this time, the Rail Group expects full year 2019 deliveries of between approximately 22,500 and 24,000 railcars.