Greenbrier rallies on positive pre-announcement

The Greenbrier Companies

22/03/2023 12:59

** Greenbrier Companies Inc's  GBX.N  shares up 10.8% at
$31.47 premarket after railcar maker's preliminary results
exceed estimates
    ** GBX says expects fiscal Q2 rev of ~$1.1 bln, deliveries
of 7,200 units and GAAP EPS of $0.95-$1.00, pointing to strong
execution 
    ** Wall Street called for rev of $782 mln and non-GAAP EPS
of 36 cents, per Refinitiv data. Analysts on avg expected GAAP
EPS of 41 cents, but it's unclear if that figure is comparable
to GBX's range
    ** TD Cowen in note says deliveries of 7,200 railcars well
above its projection of 5,400, saying it believes co could also
signal improvement in the supply chain
    ** GBX also said it received 4,500 new railcar orders in the
qtr valued at $580 mln
    ** Co expects to announce to report Q2 earnings on Apr 10,
and that in place of a conf call, will provide additional info
at its previously announced Investor Day on Apr 12
    ** 3 of 6 analysts rate GBX "buy" or "strong buy", 2 have
"hold" and 1 rates "sell", per Refinitiv; median PT is $35
    ** GBX shares down 15% YTD amid ~46% drop over the past 12
months

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))