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Nov 30, 2023
Greenbrier Q1 2024 Earnings Report
Greenbrier reported strong first quarter results, driven by solid performance across all operating segments and a robust backlog.
Key Takeaways
Greenbrier's first quarter saw net earnings of $31 million, or $0.96 per diluted share, on revenue of $809 million. The company grew its lease fleet, received new railcar orders, and maintained a strong backlog. Management expressed confidence in achieving strategic targets and enhancing financial performance.
Lease fleet grew by 700 units to 14,100 units with 98% fleet utilization.
Received new railcar orders for 5,100 units valued at nearly $710 million.
New railcar backlog of 29,700 units with an estimated value of $3.8 billion was achieved.
Adjusted EBITDA was $93 million, representing 11.5% of revenue.
Revenue by Segment
Forward Guidance
Greenbrier expects to deliver 22,500 – 25,000 units, achieve revenue of $3.4 – $3.7 billion, and have capital expenditures of approximately $165 million in Manufacturing and $15 million in Maintenance Services for fiscal year 2024.
Positive Outlook
- Deliveries of 22,500 – 25,000 units including approximately 1,000 units in Brazil
- Revenue of $3.4 – $3.7 billion
- Capital expenditures of approximately $165 million in Manufacturing
- Capital expenditures of $15 million in Maintenance Services
- Gross leasing investment of approximately $350 million in Leasing & Management Services
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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