- Greenbrier says that FQ1 performance exceeded expectations; order activity was strong and comprised of a broad range of railcar types; 20% of new railcar orders were received from markets outside North America
- The company continues to see opportunities internationally, and expects growth to continue from Europe and Brazil
- Sales increased 8% Y/Y to $604.5M, as compared to consensus of $559M
- Delivered 4,500 units of new railcars; received orders for 5,400 railcars valued at $560M with book-to-bill of 1.2x.
- The company witnessed narrow margins, with gross margin down ~400bps to 12% due to product mix; operating margin reduces ~500bps to 6%
- Reaffirms FY19 guidance, expects EPS of $4.20-4.40 vs. $4.28 consensus; anticipates revenues of ~$3B, as compared to consensus of ~$2.97M; deliveries to be ~24,000-26,000
- (NYSE:GBX) is up ~3.9% in pre-market
- Previously: Greenbrier beats by $0.06, beats on revenue (Jan. 9)
- Previously: Greenbrier declares $0.25 dividend (Jan. 9)
- Now read: Sell CSX (NASDAQ:CSX) Into Earnings
Original article