The Greenbrier Companies ( NYSE: GBX ) stock slipped to a 52-week low after posting a disappointing earnings result on Monday.
The Lake Oswego-based railcar manufacturer reported GAAP EPS of $0.09 for the fiscal third quarter, well short of the $0.57 expected by analysts. A 76.3% jump in revenue to $793.5M beat estimates by $57.37M, but was overshadowed by the former report. .
CEO Lorie Tekorius blamed inflation impacts as well as the war in Ukraine for the disappointing bottom line report. Additionally, a spike in raw material prices had an effect on the financial performance for the quarter.
Shares fell over 5% at intraday lows to touch a yearly low.
Still, Tekorius remained confident as European railcar orders come back online. She expects significant sequential growth as impacts from the outbreak of war are digested in Europe and economic uncertainty in the US is effectively navigated.
"In recent weeks, European buyers are returning to the market and our sales pipeline is active,” she said. “Uncertainty in the U.S. economy remains an ongoing challenge, but our operations continue to build momentum.”
Read more on the details of the quarter .
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Greenbrier Companies stock rides lower on big bottom line miss