GBX Swings To Q3 Profit, Still Forecasts Lower 2010 Revenue

Despite a fall in revenue, Greenbrier Companies Inc

turned a surprise Q3 profit due to strong margins. The Lake Oswego, Oregon-based company posted its Q3 profit at $4.6 million, or $0.23 per share, as compared to a loss of $51.1 million, or $3.04 per share in the year-ago period. GBX reported a 13% year/year decline in its revenue to $211.5 million. The analysts expected the company to post $0.02 per share loss on $214 million in revenue. GBX’s gross margin rose 17%, up from 10.9% from the year-ago period, due to cost cuts. Greenbrier continues to expect a year/year decline in its 2010 revenue. The analysts expect the company to generate $809.35 million of revenue and post reasonable EBITDA growth in fiscal 2010. GBX’s shares climbed 7.47% to close at $10.79 yesterday. Read more

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