Greenbrier first quarter results

Greenbrier first quarter results


The Greenbrier Companies has reported financial results for its first fiscal quarter ending November 30, 2017.

Net earnings for the quarter were $26.3m, on revenue of $559.5m. Quarterly results included $3.4m of expense related to resolution of litigation in a foreign jurisdiction. Adjusted EBITDA for the quarter was $76.9m, or 13.7% of revenue.

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Orders for 3,200 diversified railcars were received during this quarter, valued at over $290m and new railcar backlog as 26,500 units with an estimated value of $2.56bn. New railcar deliveries totaled 4,400 units for the quarter.

Company Chairman and CEO, William A. Furman said: “Greenbrier advanced several key initiatives during the quarter and is on track to achieve our goals for the year. While the new railcar market in North America is challenging, broad-based demand for Greenbrier’s products and services remains steady and we expect will trend higher as we advance through fiscal 2018. During the recent quarter, Greenbrier received 3,200 orders for a broad range of railcar types including covered hoppers, tanks, automotive carrying units and our first orders for open top hoppers for use in aggregate service.  Greenbrier’s disciplined balance sheet management has resulted in a strong cash position and very low net debt, enabling us to invest strategically and return capital to shareholders. Good backlog visibility combined with a strong balance sheet provides the flexibility we need to build railcars when and where customers need them, across four continents.

“Based on first quarter results, we are confident in our guidance for the year. As fiscal 2018 progresses, we will continue integration of our new manufacturing investments and will continue to expand internationally.  Greenbrier is well positioned to achieve its ambitious business objectives for fiscal 2018 as growth in North American and international markets drives increased revenues, deliveries and EPS compared to fiscal 2017.”

For more information visit www.gbrx.com

15th Jan 2018

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