Rail car maker Greenbrier Cos. (NYSE: GBX) reported first fiscal quarter earnings this morning. The company delivered 3,300 new rail cars in the quarter, compared with 1,050 in the same period a year ago.
EPS of $0.48 were solidly above the consensus estimate of $0.36, but revenues missed expectations and gross margins fell slightly, from 11.9% to 11.7%.
The company’s backlog of orders for 13,300 new rail cars is nearly 65% higher than the 8,100 cars on order last year.
US rail traffic has increased in the last year or so, as trucking firms have been hit with much higher fuel costs and the use of rail cars to ship crude oil from the Bakken oil fields of North Dakota and Montana.
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