The Greenbrier Companies received new orders for 6,200 railcar units with a combined value of $670 million during the first fiscal quarter that began on Sept. 1. The orders are from a mix of customers and comprise a range of railcar types, including intermodal, boxcars, gondolas, tank cars, covered hoppers and automobile-carrying railcars.
In addition to the new railcar orders, Greenbrier received orders to rebody 1,400 railcars as part of its railcar conversion program. This follows orders for 1,300 railcar conversions in fiscal 2021.
“As we close the first fiscal quarter, Greenbrier has received orders already equal to 36% of the total orders received in fiscal 2021,” William A. Furman, chairman and CEO of Greenbrier, said. “This reflects great execution by our commercial team, excellence in engineering, resourcefulness in global sourcing and leadership in railcar manufacturing worldwide. These orders, along with our $2.8 billion new railcar backlog as of Aug. 31, 2021, provide Greenbrier strong visibility for fiscal 2022 and beyond. Importantly, it highlights the strength and flexibility of our global manufacturing and supply chain networks that support our integrated business model. Combined with a strong liquidity position and tax-advantaged cash flows from a growing lease fleet, Greenbrier is strongly-positioned in the recovering railcar markets on three continents: North America, South America and Europe.”
Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!