Greenbrier posts profit on tank car demand

Jul 02, 2014 | 01:08 PM | Michael Cowden

Tags  Greenbrier, earnings report, rail car, Watco, tank car, retrofit, safety, steel supply chain

 

CHICAGO — Greenbrier Cos. Inc. swung into the black in its fiscal third quarter as rail car backlogs surged while repair and retrofitting business is expected to be brisk.

The Lake Oswego, Ore.-based railroad equipment and services supplier posted net income of nearly $33.6 million in the three months ended May 31 in contrast to a net loss of $56 million in the same period last year on sales that rose 36.8 percent to $593.3 million, according to earnings data released July 2.....





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