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Trinity Industries Inc (TRN) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Trinity Industries Inc

CIK: 99780 Ticker: TRN
Exhibit 99.1
NEWS RELEASE
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FOR IMMEDIATE RELEASE
Trinity Industries, Inc. Announces Third Quarter 2018 Results

DALLAS, Texas - October 24, 2018 - Trinity Industries, Inc. (NYSE:TRN) today announced earnings results for the third quarter ended September 30, 2018, including the following highlights:
Earnings per common diluted share of $0.19 compared with $0.43 in 2017
Adjusted earnings per common diluted share of $0.39, excluding $0.20 per share related to an impairment charge in the Energy Equipment Group and transaction costs related to the planned spin-off of Arcosa, Inc.
Rail Group receives orders for 7,725 railcars with a total value of $944.7 million and delivers approximately 4,000 railcars during the third quarter
Rail Group expects deliveries of between 20,000 and 21,000 railcars in 2018 and anticipates full year 2019 deliveries of between approximately 22,500 and 24,000 railcars
Inland Barge Group receives orders of $61.3 million during the third quarter
Provides initial full year 2019 earnings guidance for Trinity Industries post spin-off of Arcosa, Inc. of between $0.90 and $1.10 per common diluted share

Consolidated Results
Trinity Industries, Inc. reported net income attributable to Trinity stockholders of $27.7 million, or $0.19 per common diluted share, for the third quarter ended September 30, 2018. Net income for the same quarter of 2017 was $66.9 million, or $0.43 per common diluted share. Revenues for the third quarter of 2018 decreased to $930.9 million compared with revenues of $973.6 million for the same quarter of 2017. The Company recorded an impairment charge of $24.8 million, or $0.15 per common diluted share, during the quarter related to the classification of certain businesses in the Energy Equipment Group as held for sale. Additionally, the Company incurred approximately $10.6 million of corporate costs, or $0.05 per common diluted share, during the quarter related to the expected spin-off transaction. Excluding these items, the Company reported adjusted earnings per common diluted share of $0.39 for the third quarter. Third quarter 2018 net income benefitted from a lower effective tax rate of 27.4% compared with 36.9% in the same quarter of 2017 due primarily to the Tax Cut and Jobs Act (“the Act”), increasing earnings per common diluted share by $0.03 in comparison to the third quarter of 2017.
“I am pleased with the continued momentum in market demand experienced by a number of our businesses during the quarter,” said Timothy R. Wallace, Trinity’s Chairman, CEO and President. “Trinity’s consolidated third quarter financial results reflect a variety of market conditions in our businesses as well as activities associated with the anticipated distribution of Arcosa, Inc. to Trinity shareholders on the first of November.”
Mr. Wallace added, “This year marks Trinity’s 85th year as a company, and its 60th year as a public company. As Trinity has grown through the years, our dedicated employees have worked collaboratively to build a strong portfolio of industry-leading businesses. We are proud of Trinity’s history of success and rich corporate culture, which provides an excellent foundation for both Trinity and Arcosa. Arcosa will separate from Trinity with an established platform of leading businesses in the construction, energy, and transportation markets, with long-standing customer relationships and opportunities to grow in attractive markets. Trinity will continue to be a premier provider of rail transportation products and services. Both companies have

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The following information was filed by Trinity Industries Inc (TRN) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Trinity Industries Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statement Of Stockholders' Equity (Unaudited)
Consolidated Statement Of Stockholders' Equity (Unaudited) (Parenthetical)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Cash Flows (Unaudited) (Parenthetical)
Consolidated Statements Of Comprehensive Income (Unaudited)
Consolidated Statements Of Comprehensive Income (Unaudited) (Parenthetical)
Consolidated Statements Of Operations (Unaudited)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Tables)
Accumulated Other Comprehensive Loss - Changes In Accumulated Other Comprehensive Loss (Details)
Acquisitions And Divestitures
Acquisitions And Divestitures - Acquisitions And Divestitures (Details)
Acquisitions And Divestitures - Narrative (Details)
Acquisitions And Divestitures Acquisitions And Divestitures (Tables)
Contingencies
Contingencies - Narrative (Details)
Debt
Debt (Tables)
Debt - Components Of Debt (Details)
Debt - Narrative (Details)
Debt - Remaining Principal Payments Under Existing Debt Agreements (Details)
Debt - Total Interest Expense Recognized On The Convertible Notes (Details)
Derivative Instruments
Derivative Instruments (Tables)
Derivative Instruments - Effect On Statements Of Operations (Details)
Derivative Instruments - Interest Rate Hedges (Details)
Derivative Instruments - Narrative (Details)
Earnings Per Common Share
Earnings Per Common Share (Tables)
Earnings Per Common Share - Eps Calculation (Details)
Employee Retirement Plans
Employee Retirement Plans (Tables)
Employee Retirement Plans - Components Of Net Retirement Cost (Details)
Employee Retirement Plans - Narrative (Details)
Fair Value Accounting
Fair Value Accounting (Tables)
Fair Value Accounting - Assets And Liabilities Measured At Fair Value On Recurring Basis (Details)
Fair Value Accounting - Carrying Amounts And Estimated Fair Values Of Long-Term Debt (Details)
Financial Statements For Guarantors Of The Senior Notes
Financial Statements For Guarantors Of The Senior Notes (Tables)
Financial Statements For Guarantors Of The Senior Notes - Balance Sheet (Details)
Financial Statements For Guarantors Of The Senior Notes - Narrative (Details)
Financial Statements For Guarantors Of The Senior Notes - Statement Of Cash Flows (Details)
Financial Statements For Guarantors Of The Senior Notes - Statement Of Operations And Comprehensive Income (Details)
Goodwill
Goodwill (Tables)
Goodwill - Goodwill By Segment (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Change In Unrecognized Tax Benefits (Details)
Income Taxes - Effective Rate Reconciliation (Details)
Income Taxes - Narrative (Details)
Other, Net
Other, Net (Tables)
Other, Net - Narrative (Details)
Other, Net - Summary Of Other, Net (Income) Expense (Details)
Partially-Owned Leasing Subsidiaries
Partially-Owned Leasing Subsidiaries - Narrative (Details)
Property, Plant, And Equipment
Property, Plant, And Equipment (Tables)
Property, Plant, And Equipment - Components Of Property, Plant, And Equipment (Details)
Property, Plant, And Equipment - Narrative (Details)
Railcar Leasing And Management Services Group
Railcar Leasing And Management Services Group (Tables)
Railcar Leasing And Management Services Group - Future Contractual Minimum Rental Revenues On Leases (Details)
Railcar Leasing And Management Services Group - Future Operating Lease Obligations And Future Contractual Minimum Rental Revenues (Details)
Railcar Leasing And Management Services Group - Narrative (Details)
Railcar Leasing And Management Services Group - Schedule Of Proceeds From Leased Railcars (Details)
Railcar Leasing And Management Services Group - Selected Consolidating Financial Information For The Leasing Group (Details)
Railcar Leasing And Management Services Group - Selected Consolidating Income Statement Information For The Leasing Group (Details)
Segment Information
Segment Information (Tables)
Segment Information - Financial Information For Segments (Details)
Segment Information - Narrative (Details)
Stock-Based Compensation
Stock-Based Compensation - Narrative (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Asu 2014-09 Adoption (Details)
Summary Of Significant Accounting Policies - Recent Accounting Pronouncement (Details)
Summary Of Significant Accounting Policies - Remaining Performance Obligation (Details)
Summary Of Significant Accounting Policies - Stockholder's Equity (Details)
Warranties
Warranties (Tables)
Warranties - Changes In The Accruals For Warranties (Details)
Ticker: TRN
CIK: 99780
Form Type: 10-Q Quarterly Report
Accession Number: 0000099780-18-000177
Submitted to the SEC: Thu Oct 25 2018 2:45:11 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Railroad Equipment

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