Greenbrier Reports Profit In Q3 - Quick Facts

(RTTNews) - Railroad freight car equipment maker Greenbrier Companies Inc. (GBX) Wednesday posted third-quarter earnings of $33.6 million or $1.03 per share compared with a loss of $56.03 million or $2.10 per share last year.

On average 11 analysts polled by Thomson Reuters expected the company to report earnings of $0.74 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly revenues rose to $593.28 million from $433.66 million in the year-ago period. Eight analysts had consensus revenue estimate of $571.07 million for the quarter.

The board proposed a quarterly dividend of $0.15 per share payable on August 5, to shareholders of record as of July 15.

Looking ahead, the firm expects fourth-quarter earnings per share in the range of $0.95 - $1.05 and full-year earnings per share of $2.98 -$3.08, both excluding restructuring charges. Analysts estimate fourth-quarter earnings per share of $0.86 and annual earnings per share of $2.61. The company expects revenue to rise 4 percent-6 percent above third quarter revenue of $593 million, resulting in annual revenue in excess of $2.2 billion.

Commenting on the results, William Furman, Chairman and Chief Executive, said: "This quarter represents a solid and sustainable performance level, and provides a good base for further growth and diversification. All three of our business segments improved their financial performance, with manufacturing and leasing continuing to lead the way."