"This is a good one to keep on your candidate Buy list."
I'd tend to agree with you in terms of keeping an eye on TRN.
From what one sees in its financials all seems to be going quite well ...
Last 3 Annuals show regular increases in all important areas.
Bearing in mind all the "distractions" regarding litigations, its latest Quarterly shows good increases in Gross Profit, Operating Income and Net Income. So the latter also improves its Balance Sheet.
For my 5c worth, wouldn't be too preoccupied by book value. Only comes into play if TRN liquidates, which is unlikely.
This could well turn out to be a case of Buying when others are "fearful" ....
QUARTERLY RESULTS :-
Trinity Industries Inc. (TRN)
-NYSE
26.37  0.06(0.23%) 2:19PM EDT - Nasdaq Real Time Price
Period Ending
| Mar 31, 2015
| Dec 31, 2014
| Sep 30, 2014
| Jun 30, 2014
| Total Revenue
| 1,626,700
| 1,661,400
| 1,562,800
| 1,485,300
| Cost of Revenue
| 1,211,100
| 1,275,300
| 1,172,200
| 1,098,300
| | Gross Profit
| 415,600
| 386,100
| 390,600
| 387,000
| | | Operating Expenses
| | Research Development
| -
| -
| -
| -
| | Selling General and Administrative
| 98,300
| 110,600
| 113,000
| 96,400
| | Non Recurring
| -
| -
| -
| -
| | Others
| -
| -
| -
| -
| | | | Total Operating Expenses
| -
| -
| -
| -
| | | | | | Operating Income or Loss
| 333,100
| 276,500
| 281,200
| 302,000
| | | | | Income from Continuing Operations
| | | Total Other Income/Expenses Net
| 18,600
| 3,200
| 5,000
| 13,800
| | | Earnings Before Interest And Taxes
| 335,900
| 278,700
| 282,600
| 304,400
| | | Interest Expense
| 51,500
| 52,000
| 48,200
| 46,900
| | | Income Before Tax
| 284,400
| 226,700
| 234,400
| 257,500
| | | Income Tax Expense
| 95,400
| 80,300
| 78,100
| 83,900
| | | Minority Interest
| (8,800)
| (8,100)
| (7,500)
| (8,900)
| | | | | Net Income From Continuing Ops
| 180,200
| 146,400
| 156,300
| 180,200
| | | | | Non-recurring Events
| | | Discontinued Operations
| -
| (100)
| 600
| (500)
| | | Extraordinary Items
| -
| -
| -
| -
| | | Effect Of Accounting Changes
| -
| -
| -
| -
| | | Other Items
| -
| -
| -
| -
| | | | | | Net Income
| 180,200
| 138,200
| 149,400
| 164,200
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ANNUAL RESULTS :-
| Dec 31, 2014Dec 31, 2013Dec 31, 2012| Period Ending | | Total Revenue | 6,170,000 | 4,365,300 | 3,811,900 | | Cost of Revenue | 4,619,800 | 3,322,300 | 3,051,500 | | | Gross Profit | 1,550,200 | 1,043,000 | 760,400 | | | Operating Expenses | | Research Development | - | - | - | | Selling General and Administrative | 403,600 | 291,300 | 224,100 | | Non Recurring | - | - | - | | Others | - | - | - | | | | Total Operating Expenses | - | - | - | | | | Operating Income or Loss | 1,251,000 | 772,900 | 574,800 | | | Income from Continuing Operations | | Total Other Income/Expenses Net | 110,900 | 26,100 | 44,300 | | Earnings Before Interest And Taxes | 1,257,500 | 777,800 | 580,600 | | Interest Expense | 193,400 | 187,300 | 194,700 | | Income Before Tax | 1,064,100 | 590,500 | 385,900 | | Income Tax Expense | 354,800 | 204,400 | 134,000 | | Minority Interest | (31,100) | (16,900) | 1,500 | | | | Net Income From Continuing Ops | 709,300 | 386,100 | 251,900 | | | Non-recurring Events | | Discontinued Operations | - | 6,300 | 1,800 | | Extraordinary Items | - | - | - | | Effect Of Accounting Changes | - | - | - | | Other Items | - | - | - | | | | Net Income | 678,200 | 375,500 | 255,200 |
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