Greenbrier Reports Fiscal Third Quarter 2020 Results
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Go back to Greenbrier Reports Fiscal Third Quarter 2020 Results
July 10, 2020 9:55 AM EDT
Cowen analyst Matt Elkott reiterated an Outperform rating and $30.00 price target on Greenbrier Companies (NYSE: GBX) following solid results, citing forecast-exceeding production, aggressive cost cuts, capacity rationalization, solid background, and impressive execution. The analyst expects shares to Outperform following the print.
The analyst stated... More
July 10, 2020 6:04 AM EDT
Greenbrier Cos. (NYSE: GBX) reported Q3 EPS of $1.05, $0.91 better than the analyst estimate of $0.14. Revenue for the quarter came in at $762.6 million versus the consensus estimate of $616.06 million.
Third Quarter Highlights
Achieved $1 billion liquidity target through combination of cash, borrowing capacity, and spending reductions. Liquidity consists of $735.3 million in cash and available borrowing capacity of $136.8 million; lower capital expenditures of $50.0 million, reduced annualized selling and administrative expense of $30.0 million and reduced annualized overhead expense of $65.0 million.Generated operating cash flow in excess of $220.0 million in the quarter from decreases in working...
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