Greenbrier Is Ready for a Post-Pandemic Recovery
Demand for railcars has been weak during the pandemic, and that weakness extended into the fiscal second quarter for railcar manufacturer The Greenbrier Companies (NYSE: GBX). Revenue plunged more than 50% from the prior-year period, and deliveries were down 37% from the fiscal first quarter.
Greenbrier pointed to a weak demand environment and extreme winter weather for the exceptionally large sales decline. Revenue of $295.6 million missed the average analyst estimate by more than $80 million, while a net loss of $0.28 per share was $0.09 per share better than analysts were expecting. Greenbrier barely turned a gross profit in its manufacturing business, generating a gross margin of just 0.2%.
While Greenbrier's results left a lot to be desired, management is optimistic that the situation will improve as the year goes on.
Source Fool.com
