This Is Why Textainer Group Holdings Limited’s Stock Popped 14% in October

This Is Why Textainer Group Holdings Limited’s Stock Popped 14% in October

Shares of Textainer Group Holdings (NYSE: TGH) surged in October, closing the month up 14%. Driving that rally was rival CAI International's (NYSE: CAI) expectation-smashing third-quarter results, which an analyst saw as a positive for CAI as well as its competitors Textainer and Triton International (NYSE: TRTN).

In mid-October, CAI International unveiled its third-quarter results. The container leasing company reported that revenue jumped 14.9% year over year to $90.2 million, which beat expectations by $1.2 million. Meanwhile, earnings improved to $17.6 million, or $0.90 per share, which was $0.20 per share better than the consensus estimate. Furthermore, profitability was well ahead of the $0.65 per share it earned last quarter and in stark contrast to its year-ago loss of $0.28 per share.

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Source: Fool.com