Why Greenbrier (GBX) Shares Are Gaining Today - Greenbrier Companies (NYSE:GBX)

Greenbrier Companies Inc GBX shares are up over 7% Monday premarket following its solid Q2 results and raised FY23 outlook.
It reported second-quarter FY23 sales growth of 64% year-on-year, to $1.12 billion, beating the consensus of $782.27 million.
Selling and administrative expense rose 7.8% to $59 million.
Operating margin was 6%, and operating income for the quarter jumped 167.5% to $67.4 million.
Adjusted EPS of $0.99 beat the analyst consensus of $0.36.
The company held $399.6 million in cash and equivalents as of Feb. 28, 2023.
The board of directors declared a quarterly dividend of $0.27 per share, payable on May 16, 2023, to shareholders of record as of Apr. 25, 2023.
Outlook: Greenbrier sees FY23 revenue of $3.4 billion - $3.7 billion (prior view $3.2 billion – $3.6 billion), with a consensus of $3.41 billion.
The company expects FY23 deliveries of 23,000 – 25,000 units (prior view 22,000 – 24,000 units).
Price Action: GBX shares are trading higher by 7.61% at $32.51 in premarket on the last check Monday.