Greenbrier and WD-40 Exceed Expectations, Pricesmart March Sales Jumps

Mukesh Buch
06 Apr, 2018
New York City

Greenbrier reported better-than-expected results. Hooker Furniture missed earnings estimates. Pricesmart warehouse club sales soared. WD-40 earnings reported above expectations.

[R]12:45 PM New York City, New York – Greenbrier reported better-than-expected results. Hooker Furniture missed earnings estimates. Pricesmart warehouse club sales soared. WD-40 earnings reported above expectations.[/R]

Tollbooth Index fell 33.34 or 0.2% to 14,625.10 and in the year-to-date jumped 6.2%.

Earnings Review

Greenbrier Companies Inc ((GBX)) slipped 1.5% or 75 cents to $48.55 after the railroad freight car equipment maker reported revenues in the second-quarter ending in February surged 12.5% from a year ago to $629.3 million.

Net income in the quarter soared 78.5% to $61.6 million or $1.91 per diluted share from $34.5 million or $1.09 in the same quarter last year.

As of February 28, new railcar backlog was 24,100 units with an estimated value of $2.3 billion and new orders received in the quarter for 3,400 diversified railcars, valued at about $265 million and deliveries in new railcar totaled 4,900 units.

The railroad freight car equipment maker forecasted fiscal 2019 deliveries between 20,000 units and 22,000 units and revenues in the range of $2.4 billion to $2.6 billion and diluted earnings per share of about $5.

Hooker Furniture Corp ((HOFT)) slumped 1.5% or 60 cents to $39.80 after the furniture and upholstery maker said net sales in the fourth-quarter ending on January 28 rose 1% from a year ago to $175.5 million.

Net income in the quarter plunged 19.3% to $8.8 million or 75 cents per diluted share from $10.9 million or 95 cents in the same quarter last year.

Pricesmart Inc ((PSMT)) surged 6.4% or $5.35 to $89 after the low prices consumer goods retailer said total revenues in the second-quarter ending in February jumped 5.8% from a year ago to $839.6 million.

Net income in the quarter tumbled 48.2% to $14.1 million or 47 cents per diluted share from $27.2 million or 90 cents in the same quarter last year.

Pricesmart added net warehouse club sales in four weeks ending on April 1 soared 8.9% to $261.3 million and comparable net warehouse club sales jumped 3.5%.

WD-40 Co ((WDFC)) declined 3.7% or $4.95 to $128.05 after the lubricants and cleaning products manufacturer reported net sales in the second-quarter ending in February advanced 5% from a year ago to $101.3 million.

Net income in the quarter jumped 20% to $14.8 million or $1.05 per diluted share from $12.4 million or 87 cents in the same quarter last year.

WD-40 forecasted fiscal 2018 net sales to grow between 7% and 9% or between $407 million and $415 million and net income between $56.6 million and $57.5 million and diluted earnings per share in the range of $4.07 and $4.14.