Trinity boasts ‘high level of liquidity,’ ‘very strong’ balance sheet

By Devika Patel

Knoxville, Tenn., Feb. 17 – Trinity Industries Inc. reported a “very strong” balance sheet with “a high level of liquidity” at the end of 2016.

“Our balance sheet is very strong with a high level of liquidity,” chief financial officer and senior vice president James Perry said on the company’s fourth quarter earnings conference call on Friday.

“At the end of the year, our cash, cash equivalents and short-term marketable securities totaled $800 million, essentially off-setting the recourse debt on our balance sheet,” Perry said.

Available committed credit capacity under the company’s $600 million corporate revolver and its $1 billion leasing warehouse facility totaled $1.3 billion at year-end.

Combined with cash instruments, Trinity’s available liquidity position was $2.1 billion, Perry said.

The Dallas-based company manufactures transportation, construction and industrial products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.