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Textainer beats 3Q profit forecasts

HAMILTON, Bermuda (AP) _ Textainer Group Holdings Ltd. (TGH) on Thursday reported third-quarter net income of $18.5 million, after reporting a loss in the same period a year earlier.

The Hamilton, Bermuda-based company said it had profit of 32 cents per share. Earnings, adjusted for non-recurring costs, came to 33 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.

The shipping container leasing company posted revenue of $125.6 million in the period.

Textainer shares have more than doubled since the beginning of the year. The stock has more than doubled in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TGH at https://www.zacks.com/ap/TGH