American Railcar Industries' Profit Jumps Nearly 50 Percent

American Railcar Industries' Profit Jumps Nearly 50 Percent

American Railcar Industries reported profit in the first quarter of 2013 of $17.9 million, up 49.4 percent year-over-year.

Total quarterly revenue rose 7 percent from $181.6 million in 2012 to $195.1 million in 2013, driven by increases in revenue for the manufacturing and leasing segments, the North American designer and manufacturer of hopper and tank railcars said in a written statement.

The manufacturing division’s revenue was $228.4 million in the first quarter of 2013, rising 8 percent from $211.9 million in the same period last year, and the leasing segment’s revenue was $6.5 million, improving by $5.1 million from $1.4 million in the first quarter of 2012.

“We are pleased with another strong quarter of operating results, driven by strong shipments of tank railcars, which provided us with a favorable sales mix and good earnings,” said James Cowan, president and CEO of ARI.