Greenbrier Q4 loss wider than expected; sees loss in Q1

By: | at 07:00 PM | Intermodal  

Railroad equipment supplier Greenbrier Cos Inc posted a wider-than-expected quarterly loss, hurt by lower new railcar deliveries and a slowdown in marine production rates, and said it expects to report a net loss for the current quarter.

Revenue at the manufacturing segment, which consists of marine and new railcar production in Europe and North America, fell 36 percent to $69.5 million.

Greenbrier, whose customers include Union Pacific Corp and General Electric Co , said its marine business is not expected to rebound until late in this fiscal year or early 2012. For June-August, Greenbrier, which competes with American Railcar and FreightCar America , reported net income of $7.7 million, or 33 cents a share, compared with $6.1 million, or 33 cents a share, a year ago.

Excluding items, the company posted a loss of 15 cents a share, according to Thomson Reuters I/B/E/S.

Revenue fell 21 percent to $181.4 million.

Analysts of average were expecting loss of 9 cents a share on revenue of $186 million, according to Thomson Reuters I/B/E/S. (Reuters)


Discussion

Be the first to comment on this article!

To avoid Spammers, we ask that you log in using your AJOT.com account. Free accounts have access to commenting.

Did you forget your password?

It happens...