Train maker Greenbrier's stock rallies toward the best monthly performance in 14 years after a 2nd-straight blowout earnings report
Shares of Greenbrier Companies Inc. (GBX) gained 2.4% toward a 13-month high in afternoon trading Friday, to put them on track for the biggest monthly gain in 14 years in the wake of the railcar maker's second-straight blowout earnings report. The stock had rocketed a record 31.8% on Thursday after the company reported fiscal third-quarter adjusted earnings per share of $1.02, or 71% above the FactSet consensus of 60 cents, which followed a 63% beat in the first quarter. Revenue jumped 31% to $1.04 billion, well above the FactSet consensus of $904.2 million, and to beat expectations for the seventh-straight quarter. Thursday's gain helped propel the stock to a 61.3% rally in June, which would be the biggest one-month gain since it rocketed a record 132.5% in April 2009. In comparison, the S&P 500 has tacked on 6.6% in June. Analyst Bascome Majors at Susquehanna, who has rated Greenbrier's stock at hold since November 2022, wrote in a note to clients, "We have to admit, it's getting better."
-Tomi Kilgore
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06-30-23 1501ET
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