Trinity Industries (NYSE:TRN) roared down the track in 2005 with strong revenue and earnings growth. The diversified manufacturer is still experiencing robust demand in many of its businesses, including railcars and barges. There is one potential hitch, but even so, chances are good that that 2006 will be another solid year.

Trinity's full-year revenue climbed 32% to $2.9 billion, which translated into $1.69 per share in earnings compared to a $0.27-per-share loss in 2004. Revenue in the fourth quarter rose 25% to $781.3 million, while earnings hit $0.49 a share, a nice recovery compared with an $0.08-per-share loss in Q4 2004.

Trinity's railcar manufacturing unit was responsible for more than half of the company's quarterly and yearly operating profit. The good news is that this business is likely to stay on the rails. Trinity is forecasting that railcar deliveries will fluctuate between 6,000 and 6,300 per quarter in 2006, up from 5,900 in 2005's fourth quarter and 5,700 in the third quarter.

This ongoing demand isn't too surprising, considering solid business trends at rail outfits like Burlington Northern Santa Fe (NYSE:BNI) and the need to move coal extracted by firms like Arch Coal (NYSE:ACI). Trinity also noted that high prices for scrap steel are helping demand by driving the retirement of old rail cars. However, these same higher raw material prices are also hitting Trinity; steel and material cost increases sliced $0.24 from fourth-quarter EPS. Fortunately, Trinity is counteracting these expenses to some extent with less expensive labor. The company will begin shipping cars from a new plant in Mexico in the second quarter.

Looking at the firm's other major units, there isn't a lot to complain about. In January, the company's barge business signed a long-term contract to manufacture cargo units for Ingram Barge. In addition, the construction business remains strong, and Trinity is experiencing solid growth in its Energy Equipment Group, which is benefiting from growing demand for wind turbine towers. Aside from the issue of raw-material costs, Trinity looks positioned to keep rolling along.

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Fool contributor Brian Gorman is a freelance writer in Chicago. He does not own shares of any companies mentioned in this article.