Greenbrier Q2 Net Income Rises; Updates FY23 Guidance

(RTTNews) - The Greenbrier Companies, Inc. (GBX) reported second quarter net earnings attributable to company of $33 million, or $0.97 per share. The company noted that its results included $0.7 million or $0.02 per share, net of tax, of Gunderson exit related costs. Net income for the prior year quarter was $12.8 million or $0.38 per share.

Adjusted net earnings attributable to Greenbrier was $34 million or $0.99 per share, for the second quarter. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.50, for the quarter. Analysts' estimates typically exclude special items.

Revenue increased to $1.1 billion from $682.8 million, last year. Analysts on average had estimated $835.28 million in revenue.

Greenbrier updated guidance for fiscal 2023. The company now expects deliveries of 23,000 - 25,000 units including approximately 1,000 units in Greenbrier-Maxion (Brazil), and revenue at $3.4 - 3.7 billion.

The Board declared a quarterly dividend of $0.27 per share, payable on May 16, 2023 to shareholders of record as of April 25, 2023.

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