DALLAS—Trinity Industries Inc. said Wednesday that first-quarter earnings rose nearly 11 percent as the diversified industrial manufacturer's structural wind towers business expanded.
Earnings for the period ended March 31 rose to $65.3 million, or 81 cents per share, from $59.1 million, or 74 cents per share, a year ago. Excluding discontinued operations, profit totaled $65.6 million, or 81 cents per share, for the first quarter of 2008.
Quarterly revenue grew 9 percent to $898.9 million, from $828.5 million in the first quarter of 2007.
Analysts surveyed by Thomson Financial forecast earnings of 73 cents per share on revenue of $877 million.
Operating profit for Trinity's energy equipment group surged 80 percent during the quarter due to expansion of its structural wind towers business.
Operating profit for the rail group dipped 1 percent as the company removed nearly 2,000 railcars from its backlog because of uncertainty surrounding the bankruptcy of the customer that ordered them.
Trinity shares gained 6 cents to $30.40 on Wednesday.
