Q: Thoughts on the quarter please?
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5i Research Answer:
EPS of 93c beat estimates of 71c; revenue of $730M beat estimates of $693M. EBITDA of $115M beat estimates by 6%. Sales rose 6.1% but EBITDA fell 4.2%. Railway ties showed strength, up 17%. Guidance was affirmed. Commentary was much more positive than we would have expected. The dividend was increased 11%. Things look good here, nothwithstanding current economic and other worries. It remains cheap at 12X earnings.