Seeking Alpha

Greenbrier receives orders for 7,000 new railcars valued at $700M-plus

  • Greenbrier (GBX) +2.1% AH after jumping 7.2% during today's trade to reach a new 52-week high on news it received new orders in April and May for 7,000 railcar units valued at more than $700M.
  • GBX says the orders were in addition to 3,100 units valued at nearly $265M received in March.
  • The orders comprise a broad range of railcar types, including a recent award for more than 1,700 intermodal platforms; other orders include nearly 2,500 small-cube covered hoppers and more than 2,300 tank cars primarily used in the energy sector.
  • Shipments of petroleum and petroleum products, including crude by rail, have grown 6.6% YTD vs. the year-ago period, continuing to drive demand for tank cars.
Comments (1)
  • Joe Lunchbox
    , contributor
    Comments (372) | Send Message
     
    Yah-hoo!!!
    21 May, 10:09 PM Reply Like
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