Newspaper article St Louis Post-Dispatch (MO)

American Railcar Reports Profit amid 'Challenging' Market

Newspaper article St Louis Post-Dispatch (MO)

American Railcar Reports Profit amid 'Challenging' Market

Article excerpt

Profit for St. Charles-based American Railcar Industries grew 18 percent when compared to the same time period last year, rising to $13 million in the first quarter of this year from $10.6 million in the first three months of 2017.

The increase was largely driven by lower income tax expenses stemming from the Tax Cuts and Jobs Act, enacted by Congress in late 2017, and a decreased federal tax rate.

Quarterly revenue grew to $116.2 million, up from $114.7 million a year earlier.

Railcar services revenue dropped about 10 percent in the most recent quarter while leasing sales increased slightly. The company continues to see a majority of its sales come from manufacturing, which boosted revenue about 5 percent to $64 million in the first quarter. …

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