Why Greenbrier Shares Are Up Big This Week
Railcar manufacturer Greenbrier Cos (NYSE: GBX) pre-announced its quarterly results and said it received orders for 4,500 new cars during the period. Investors are excited, sending Greenbrier shares up more than 10% for the week, according to data provided by S&P Global Market Intelligence.
Greenbrier isn't expected to release results from its fiscal second quarter ended Feb. 28 until April, but the company this week provided an update that gave investors reasons to cheer. Greenbrier said it expects to earn between $0.95 and $1 per share in that quarter on revenue of $1.1 billion, well ahead of the $0.36 per share in earnings on $782 million in sales that investors had expected.
The outperformance is being fueled by strong demand for Greenbrier's rail cars. The company said it had received orders for 4,500 new cars with an aggregate value of $580 million during the quarter. During the quarter, Greenbrier delivered 7,200 units. Analysts had expected about 5,500.
Source Fool.com
