Trinity Industries (TRN) has reported a 20.41 percent fall in profit for the quarter ended Mar. 31, 2015. The company has earned $180.20 million, or $1.13 a share in the quarter, compared with $226.40 million, or $1.42 a share for the same period last year. Revenue during the quarter grew 11.38 percent to $1,626.70 million from $1,460.50 million in the previous year period. Gross margin for the quarter contracted 91 basis points over the previous year period to 25.55 percent. Total expenses were 79.52 percent of quarterly revenues, up from 73.21 percent for the same period last year. That has resulted in a contraction of 632 basis points in operating margin to 20.48 percent.
Operating income for the quarter was $333.10 million, compared with $391.30 million in the previous year period.
Operating cash flow drops significantly
Trinity Industries has generated cash of $109.40 million from operating activities during the quarter, down 46.71 percent or $ 95.90 million, when compared with the last year period. The company has spent $323.10 million cash to meet investing activities during the quarter as against cash outgo of $23.60 million in the last year period. It has incurred capital expenditure of $256.80 million on net basis during the quarter, up 233.20 percent or $449.60 million from year ago period.
The company has spent $83.50 million cash to carry out financing activities during the quarter as against cash outgo of $78 million in the last year period. It has made net debt repayment of $37.90 million. It has spent net of $18 million on repurchase of common stocks.
Cash and cash equivalents stood at $590.70 million as on Mar. 31, 2015, up 10.99 percent or $58.50 million from $532.20 million on Mar. 31, 2014.
Debt moves up
Trinity Industries has witnessed an increase in long-term debt over the last one year. It stood at $3,485.90 million as on Mar. 31, 2015, up 18.56 percent or $545.70 million from $2,940.20 million on Mar. 31, 2014. Total debt was 39.96 percent of total assets as on Mar. 31, 2015, compared with 38.79 percent on Mar. 31, 2014. Debt to equity ratio was almost stable at 0.98 as on Mar. 31, 2015, when compared with the last year. Interest coverage ratio deteriorated to 6.47 for the quarter from 8.45 for the same period last year.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]
