Why Greenbrier Companies Shares Are Surging Today
Shares of The Greenbrier Companies (NYSE: GBX) soared on Friday after the railcar manufacturer reported fiscal third-quarter results that blew past analyst estimates. The company also updated investors on its liquidity situation and detailed its efforts to cut costs. The stock was up about 21.7% at 11:30 a.m. EDT.
Greenbrier reported third-quarter revenue of $762.6 million, down 10.9% year over year but $156.1 million higher than the average analyst estimate. The manufacturing segment was the best performer, with revenue of $653 million, down just 4.2% from the prior-year period.
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Source Fool.com
