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Greenbrier pops 3%, says older tank cars may need to be modified/replaced

  • Greenbrier Cos. (GBX +3.1%) pops higher as the maker of railroad freight car equipment says during its Q1 earnings call that it has addressed the series of crude-by-rail accidents and what the industry may do, and believes a retrofit proposal for older cars can be expedited in a reasonable amount of time.
  • Says new railcar deliveries totaled 3,700 units for Q4 vs. 3,500 for Q3, and expects deliveries will exceed 15K units in FY 2014.
  • In its Q1 report, GBX beat estimates for earnings and revenue while reaffirming 2014 guidance.
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