Portec Rail Products Beats Estimates, Gets Clobbered

Portec Rail Products (PRPX) released  fourth quarter results on Thursday, comfortably beating analyst expectations.  The stock promptly dropped 18% to just below $5, continuing a two-week decline from around $7.50. I'm baffled.  Although the rail freight industry is a victim of falling oil prices (which means they lose market share to trucking) and the overall drop-off of the transportation industry, this is not news. Portec has several things going for it.  The company has a strong balance sheet, with current assets exceeding total liabilities, and strong cash flow from operations.  Total revenue is down slightly from last...
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