Greenbrier Cos. (GBX) Tops Q3 EPS by 1c; Guides FY13 Revs Below Views
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Jefferies Adjusts Numbers on Greenbrier (GBX) Post Q3 'Miss'
July 3, 2013 7:30 AM EDTJefferies commented on Hold-rated Greenbrier Companies (NYSE: GBX) after yesterday's 6% sell-off on a Q3 'miss' and lowered FY 2013 guidance.
Analyst Peter Nesvold comments, "Start-up costs at the company's expanded plant in Mexico accounted for most of the miss. While we had... More
Greenbrier (GBX) Announces Facility Closures; Appoints New Wheels, Repair & Parts Leaders
July 2, 2013 6:20 AM EDTThe Greenbrier Companies, Inc. (NYSE: GBX) took a further step in its multi-step plan to enhance margins and improve capital efficiency by addressing inadequate margins and returns on invested capital in its Wheels, Repair & Parts segment. Greenbrier will sell or close eight of its 38 Wheels, Repair & Parts facilities. The Company is also implementing initiatives to improve profitability and reduce capital employed at another six facilities which are currently underperforming. Greenbrier expects to realize a minimum return of capital of $25 million by December 31, 2013 as a result of the actions announced today. Additionally, Greenbrier has... More
