Greenbrier Q1 Earnings Off on Lower Revenue



The Greenbrier Companies reported net earnings for its first fiscal quarter ended November 30, 2016 were $25.0 million on revenue of $552.3 million compared to $69.4 million on revenue of $802.4 million for the same quarter a year earlier.

The following highlights were excerpted from the news release:

  • Diversified orders for 2,400 new railcars were received during this quarter, valued at over $230 million, or an average price of approximately $98,000 per railcar.
  • New railcar backlog as of November 30, 2016 was 25,800 units with an estimated value of $2.97 billion (average unit sale price of $115,000). Included in backlog are 3,800 covered hopper railcars for use in energy related sand transportation, of which 2,500 units, scheduled for production in 2018, are for a customer who is negotiating with us to modify the order.
  • New railcar deliveries totaled 4,000 units for the quarter, compared to 4,600 units for the quarter ended August 31, 2016.

William A. Furman, chairman and CEO, said, “Greenbrier’s fiscal 2017 is off to a strong start with solid financial performance delivered during a demanding first quarter. We had healthy manufacturing margins on lower deliveries, a testament to the strength of our manufacturing and leasing operations. We continue to execute on our strategy of focusing on our core North American operations while pursuing targeted investments in international markets.”


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