Greenbrier Adjusted Q2 In Line, Tops on Revenue
Greenbrier (GBX), a freight transportation equipment supplier, reported adjusted fiscal Q2 earnings of $0.22 per share, in line with the average estimate of analysts polled by Capital IQ. Adjusted earnings excluded $0.14 per diluted share related to loss accruals on railcar contracts and facility closure costs.
On a GAAP basis, the company earned $0.08 per share in fiscal Q2, compared with $1.91 a year earlier and an average CapIQ estimate of $0.17
For the quarter ended Feb. 28, total revenue of $658.7 million was up from $629.3 million in the same period a year ago and topped the Street projection of $649.4 million.
Greenbrier lowered fiscal 2019 EPS guidance to a range of $3.60 and $3.80 from a prior range of $4.20 to $4.40. The new guidance straddles the Street projection of $3.61. The company maintained full-year revenue guidance of $3 billion, below the Street estimate of $3.10 billion.