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

|About: The Greenbrier Companies, Inc. (GBX)|By:, SA News Editor

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.