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Nov 30, 2022
Greenbrier Q1 2023 Earnings Report
Greenbrier reported mixed Q1 2023 results with a strong commercial performance offset by manufacturing margin pressures.
Key Takeaways
Greenbrier's Q1 results showed a net loss of $17 million, or $0.51 per diluted share, on revenue of $767 million. Adjusted net earnings were $1.6 million, or $0.05 per diluted share. The company secured new railcar orders for 5,600 units, resulting in a book-to-bill ratio of 1.2x. Manufacturing margins were impacted by higher costs and supply chain complications, while lease fleet utilization remained strong at 98%.
New railcar orders totaled 5,600 units, valued at $700 million, with a book-to-bill ratio of 1.2x.
GAAP EPS was ($0.51), impacted by a $24 million non-cash impairment charge at the Portland manufacturing operation.
Adjusted EPS was $0.05, excluding the impairment charge.
Lease fleet utilization remained strong at 98%.
Revenue by Segment
Forward Guidance
Greenbrier expects deliveries of 22,000 – 24,000 units, including approximately 1,000 units in Greenbrier-Maxion (Brazil), revenue at $3.2 – $3.6 billion, and capital expenditures at approximately $240 million in Leasing & Management Services, $80 million in Manufacturing and $10 million in Maintenance Services for fiscal year 2023.
Positive Outlook
- Deliveries of 22,000 – 24,000 units including approximately 1,000 units in Greenbrier-Maxion (Brazil)
- Revenue at $3.2 – $3.6 billion
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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