Earnings To Watch: Greenbrier (GBX) Reports Q3 Results Tomorrow
Rail transportation company Greenbrier (NYSE:GBX) will be announcing earnings results tomorrow afternoon. Here’s what to look for.
Greenbrier missed analysts’ revenue expectations by 10.9% last quarter, reporting revenues of $820.2 million, down 21% year on year. It was a slower quarter for the company, with a miss of analysts’ operating margin estimates.
Is Greenbrier a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Greenbrier’s revenue to be flat year on year at $1.02 billion, slowing from the 7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.40 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Greenbrier has missed Wall Street’s revenue estimates twice over the last two years.
With Greenbrier being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for heavy machinery stocks. However, there has been positive investor sentiment in the segment, with share prices up 2.3% on average over the last month. Greenbrier is up 1.9% during the same time and is heading into earnings with an average analyst price target of $57.33 (compared to the current share price of $51.70).
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