Greenbrier 1Q profit, revenue up; top expectations

Published on NewsOK Modified: January 8, 2014 at 5:53 am •  Published: January 8, 2014
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NEWS: Greenbrier said Wednesday that its fiscal first-quarter net income climbed 48 percent, benefiting from an increase in new railcar deliveries. Its adjusted earnings and revenue beat Wall Street's expectations.

DETAILS: New railcar deliveries rose to 3,700 units from 3,500 units in the previous quarter.

NUMBERS: Greenbrier Cos., which supplies transportation equipment and services to the railroad industry, earned $15.4 million, or 49 cents per share, for the three months ended Nov. 30. That compares with $10.4 million, or 35 cents per share, a year ago.

Removing restructuring charges and other items, earnings amounted to 56 cents per share.

Revenue increased 18 percent to $490.4 million from $415.4 million, led by strength in the manufacturing segment.

Analysts expected earnings of 53 cents per share on revenue of $481.9 million, according to a FactSet survey.

FUTURE: The Lake Oswego, Ore., company still anticipates fiscal 2014 earnings of $2.45 to $2.70 per share, excluding restructuring charges. It maintained its guidance that revenue will top $2 billion. Analysts predict earnings of $2.68 per share on revenue of $2.08 billion.

STOCK: The shares closed at $32.22 on Tuesday.


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