- Greenbrier (NYSE:GBX) +8.3% premarket after raising its full-year earnings forecast and easily beating FQ3 earnings expectations.
- The railcar manufacturer says FQ3 revenues rose 18.1% Q/Q, primarily due to increased deliveries, and gross margins were 16.3% from 11.5% in Q2, driven by improved efficiencies, pricing and product mix; railcar backlog as of the end of Q3 was 26,400 units valued ~$2.75B vs. 15,200 units valued at ~$1.54B at the end of Q2.
- Issues upside guidance for FY 2014, now expecting EPS of $2.98-$3.08 vs. its prior forecast of $2.45-$2.70 and analyst consensus estimate of $2.62, and revenues of more than $2.2B vs. $2.16B consensus.
- For Q4, GBX sees EPS of $0.95-$1.05 vs. $0.87 consensus, and deliveries of 4,300-4,600 units resulting in full-year deliveries of 15,700-16,000 units.
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TRN +3.3% premarket.