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Feb 29, 2024
Greenbrier Q2 2024 Earnings Report
Greenbrier reported second quarter results with GAAP EPS of $1.03, new railcar orders of 5,900 units valued at nearly $690 million, and a mid-teen gross margin of 14%.
Key Takeaways
Greenbrier's Q2 2024 results showed net earnings of $33 million, or $1.03 per diluted share, on revenue of $863 million. The company grew its lease fleet and obtained new railcar orders, with a strong gross margin.
Lease fleet grew by 500 units to 14,600 units, with steady lease fleet utilization of nearly 99%.
New railcar orders for 5,900 units valued at nearly $690 million were obtained, and 5,600 units were delivered.
Net earnings attributable to Greenbrier were $33 million, or $1.03 per diluted share, on revenue of $863 million.
The board declared a quarterly dividend of $0.30 per share.
Revenue by Segment
Forward Guidance
Greenbrier is updating guidance for fiscal year 2024.
Positive Outlook
- Deliveries of 23,500 – 25,000 units, including approximately 1,400 units in Brazil
- Revenue of $3.5 – $3.7 billion
- Capital expenditures of approximately $140 million in Manufacturing
- Capital expenditures of approximately $15 million in Maintenance Services
- Proceeds from equipment sales are expected to be approximately $75 million
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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