The Greenbrier Companies, Inc. (GBX) announced a rise in its third-quarter net earnings to $33.9 million, translating to $1.06 per share, compared to $21.3 million or $0.64 per share from the previous year. This result fell short of the $1.14 per share profit anticipated by four analysts surveyed by Thomson Reuters, whose estimates typically exclude special items.
Revenue for the quarter decreased to $820.2 million from $1.04 billion recorded last year, missing the analysts' average forecast of $928.73 million.
Looking ahead to fiscal 2024, Greenbrier has adjusted its expectations. The company now projects deliveries between 23,500 and 24,000 units, which includes approximately 1,400 units in Brazil, and anticipates revenue between $3.5 billion and $3.6 billion. This is a slight revision from its previous forecast of 23,500 to 25,000 units and revenue ranging from $3.5 billion to $3.7 billion.
In pre-market trading on Monday, Greenbrier's shares declined by 5%.
