Stock Alert: Greenbrier Shares Up 11% In Premarket As Q3 Results Top Consensus

(RTTNews) - Shares of the Greenbrier Companies Inc. (GBX) are rising over 11% in pre-market today, after the company reported better-than-expected Q3 results.

The stock has been trading in the range of $12.89 - $34.30 for the past one year, and closed Thursday's trade at $21.72, down 91 cents or 4.02%. GBX is currently trading at $24.25, up $2.53 or 11.65% in the pre-market session.

The company's Q3 net income was $27.8 million or $0.83 per share compared to $15.2 million or $0.46 per share last year. Adjusted net income was $35.1 million or $1.05 per share for the third quarter ended May 31, 2020.

Revenue for the latest quarter declined to $655.0 million from $856.2 million in the same period of last year.

Analysts polled by Thomson Reuters expected earnings of $0.14 per share on revenue of $616.06 million for the quarter. Analysts' estimate typically exclude certain special items.

William Furman, Chairman & CEO, said, "Greenbrier delivered strong operational results in the quarter while maintaining a constant focus on the safety and health of our employees through the pandemic and its related economic shocks. Third quarter performance reflects our near-term priorities of keeping our factories operating under essential industry status, significantly increasing liquidity and adjusting our capacity to align with our evolving demand expectations."