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American Railcar Industries Reports “Significant Growth” of Leased Rail Car Fleet

July 26, 2012, 07:00 AM
Filed Under: Rail Transportation
Related: Rail, Railcars, Railroad

American Railcar Industries, Inc. (ARI) reported its second quarter 2012 financial results. "We are pleased with our strong financial performance, operating results and significant growth of our fleet of leased railcars," said James Cowan, President and CEO of ARI.

"Our railcar production volumes were at high levels, which provided operational leverage and efficiencies that contributed to our outstanding results. In addition, our earnings have benefited from vertical integration projects that were implemented over the past several years. The market for certain railcar types remains very strong. During the quarter, we received orders for 2,810 railcars."

ARI's backlog as of June 30, 2012 was approximately 6,800 railcars, including approximately 1,620 railcars for lease customers.

Consolidated revenues for the first half of 2012 were $335.8 million compared to $196.8 million for the comparable first half of 2011. The Company shipped approximately 4,410 railcars, including approximately 1,380 railcars to leasing customers during the first half of 2012, which was more than double the approximately 1,720 railcars shipped during the first half of last year.

ARI is a leading North American designer and manufacturer of hopper and tank railcars. ARI leases railcars manufactured by the Company to certain markets. In addition, ARI repairs and refurbishes railcars, provides fleet management services and designs and manufactures certain railcar and industrial components. ARI provides its railcar customers with integrated solutions through a comprehensive set of high quality products and related services.

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