Greenbrier Q2 Profit, Revenue Jump; Ups Full-year Forecast

(RTTNews) - Railroad freight car equipment maker Greenbrier Companies (GBX) Tuesday said second-quarter net earnings attributable to Greenbrier surged to $50.4 million, or $1.57 per share, from $15.6 million or $0.50 per share in the previous year.

On average, 12 analysts polled by Thomson Reuters expected earnings of $1.20 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue increased to $630.15 million from last year's $502.22 million. Analysts expected revenues of $613.93 million.

New railcar deliveries totaled 5,200 units for the just concluded quarter, compared to 4,000 units for the quarter ended November 30, 2014.

The company expects that its 20 percent equity investment in Brazil's Amsted-Maxion Hortolândia, the leading railcar manufacturer in South America, will close during the third quarter.

Looking ahead, the company now expects earnings per share in the range of $5.65 to $5.95, and revenue of $2.6 billion to $2.7 billion, which excludes revenue from GBW as it is accounted for under the equity method of accounting. Deliveries in the fiscal are expected to be about 21,500 units.

In early January, the company expected earnings in a range of $5.20 to $5.50 per share on revenues of about $2.6 billion and deliveries of about 21,000 units.

Wall Street looks for earnings of $5.43 per share on revenues of $2.62 billion.