Railroad equipment supplier Greenbrier Cos Inc May continue to post a quarterly loss, even as it forecast better-than expected revenue on increased orders.
The company said it expects results to be close to analysts’ expectation of a loss of 1 cent a share.
In January, the company, which builds and maintains railroad freight cars, had said it expects to break even in the second quarter and be profitable in the second half.
Greenbrier, which competes with American Railcar and FreightCar America , said it received orders worth $325 million for 4,200 railcar platforms, which it expects to deliver in 2011.
Greenbrier’s new railcar manufacturing backlog, as of Feb. 28, was about 9,500 units with an estimated value of $720 million, compared to 8,100 units valued at about $580 million as of Nov. 30, 2010, the company said.
For the second quarter, the company forecast revenue of about $280 million.
Analysts, on average, were expecting $251.7 million in revenue, according to Thomson Reuters I/B/E/S. (Reuters)