This Is What Drove Textainer Group Holdings Limited's Stock up Another 21% in November

This Is What Drove Textainer Group Holdings Limited's Stock up Another 21% in November

Textainer Group Holdings (NYSE: TGH) continued its hot streak in November, soaring another 21%, pushing its year-to-date rebound up near 200%. Fueling that fierce rally is the significant improvement in the container leasing market, which enabled the company to get back into the black during the third quarter.

Textainer reported its third-quarter results last month. The company's revenue rose 4.3% versus the year-ago period to $125.6 million thanks to an improvement in lease rental income as well as gains on the sale of used containers. That helped drive the company's adjusted net income up to $18.6 million, or $0.33 per share, which reversed a string of quarterly losses and was a $27.8 million improvement from the second quarter.

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Source: Fool.com