Railcar manufacturer Greenbrier Cos. (NYSE: GBX) easily topped quarterly expectations and raised its guidance for the full year. Investors are jumping on board, with shares of Greenbrier climbing as much as 13% in Monday morning trading.

Greenbrier provides railcars and related services to the global freight industry. The company earned $0.99 per share in its fiscal second quarter ending Feb. 28 on revenue of $1.12 billion. This easily topped analyst expectations of $0.50 per share in earnings on sales of $835 million.

The company had telegraphed a strong quarter back in March, but investors appear encouraged that Greenbrier sees no slowing in the momentum in the months to come. The company raised revenue guidance for fiscal 2023 to $3.4 billion to $3.7 billion from $3.2 billion to $3.6 billion, offering some upside potential to the $3.41 billion consensus estimate.

Continue reading

Source Fool.com