Greenbrier Swings to 3Q Profit as Manufacturing Revenue Doubles |
| Wall Street Journal - Jun 28, 2012 |
Greenbrier Cos. (GBX) swung to a fiscal third-quarter profit as higher railcar deliveries and sales prices helped drive the railcar maker's revenue growth.
Greenbrier struggled during the recession as its backlog and new railcar deliveries dropped, leading the company to post a number of losses during the downturn. Greenbrier's orders have increased in recent quarters, however, benefiting from the diversion of truck traffic to rail and the growing need to transport oil from U.S. shale fields.
For the period ended May 31, Greenbrier reported a profit of $19.1 million, or 61 cents a share, compared with a year-earlier loss of $3.31 million, or 14 cents a share. Revenue climbed 60% to $507.8 million amid higher railcar deliveries and higher per unit average sales prices.
Analysts surveyed by Thomson Reuters recently forecast per-share earnings of 60 cents on revenue of $519 million.
Gross margin widened to 12.2% from 12%.
Read Full Article from Wall Street Journal
- Posted: 2012-06-28 12:10:31
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