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What's in Store for Greenbrier Companies (GBX) in Q3 Earnings?

Zacks Equity Research
·3-min read

The Greenbrier Companies, Inc. GBX is scheduled to release its third-quarter fiscal 2024 results on Jul 8 before market open.

GBXhas an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the four preceding quarters and missing in one, the average beat being 32.96%. The Zacks Consensus Estimate for third-quarter earnings have remained flat at $1.08 per share in the past 60 days.

Let us take a look at the factors that are likely to have influenced Greenbrier Companies’ performance in the quarter under review.

The Zacks Consensus Estimate for third-quarter fiscal 2024 earnings is pegged at $1.08 per share, which indicates a 5.88% year-over-year rise, reflecting solid operating performance in manufacturing, leasing and management services.

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We expect rail volumes to have been impressive in the to-be-reported quarter. Containers, cars, chemicals and crude oil are expected to drive rail traffic and rail demand in the third quarter of fiscal 2024. Strong cash flow generating ability is also likely to boost results. However, high fuel costs due to the uptick in the oil price are likely to have dented the bottom-line performance.

What Our Model Says

Our proven model does not conclusively predict an earnings beat for GBX. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.

Greenbrier Companieshas an Earnings ESP of 0.00% and a Zacks Rank #3.You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Highlights of Q2

GBX reported second-quarter 2023 earnings of $1.03 per share, which beat the Zacks Consensus Estimate of 76 cents. In the year-ago period, it reported earnings of 99 cents.However, total revenues of $862.7 million missed the Zacks Consensus Estimate of $895.3 million. The top line declined 23.11% year over year.

Stocks to Consider

Here are a few stocks from the broader Zacks Transportation sector that investors might want to consider as our model shows that these have the right combination of elements to beat second-quarter 2024 earnings.

American Airlines AAL has an Earnings ESP of +10.28% and a Zacks Rank #3.

AAL surpassed the Zacks Consensus Estimate in three of the preceding four quarters and missed once. The average beat is 15.63%.

Kirby KEX has an Earnings ESP of +7.58% and a Zacks Rank #2. KEX is scheduled to report second-quarter 2024 earnings on Aug 1. You can see the complete list of today’s Zacks #1 Rank stocks here.

KEX has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 10.3%.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

American Airlines Group Inc. (AAL) : Free Stock Analysis Report

Kirby Corporation (KEX) : Free Stock Analysis Report

Greenbrier Companies, Inc. (The) (GBX) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research