Railcar Giant Greenbrier Faces Setback In Q3 - Can New Railcar Orders Turn the Tide?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 08 2024
0mins
Should l Buy GBX?
Source: Benzinga
Greenbrier Companies Q3 FY24 Results:
- Revenue declined to $820.2 million, missing consensus.
- Lease fleet utilization was around 99%, with fleet size increasing by 600 units.
- Secured orders for 6,300 new railcars worth $830 million and delivered 5,400 units in the quarter.
- EBITDA was $104 million with a margin of 13%, while EPS of $1.06 missed expectations.
- Cash and equivalents stood at $291.8 million as of May end.
FY24 Outlook for Greenbrier Companies:
- Revised revenue guidance to $3.50 billion-$3.60 billion.
- Expects to deliver 23,500 – 24,000 units, including around 1,400 units in Brazil.
- Projects capital expenditures and gross leasing investments.
- Anticipates proceeds from equipment sales of around $75 million.
- CEO Lorie L. Tekorius highlighted strong EPS performance driven by efficiencies and execution.
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Analyst Views on GBX
Wall Street analysts forecast GBX stock price to fall
3 Analyst Rating
1 Buy
0 Hold
2 Sell
Moderate Sell
Current: 52.170
Low
38.00
Averages
46.33
High
52.00
Current: 52.170
Low
38.00
Averages
46.33
High
52.00
About GBX
The Greenbrier Companies, Inc. is an international supplier of equipment and services to global freight transportation markets. The Company designs, builds and markets freight railcars in North America, Europe and Brazil. It is a provider of freight railcar wheel services, parts, maintenance and retrofitting services in North America through its maintenance services business unit. It owns a lease fleet of approximately 15,500 railcars that originate primarily from its manufacturing operations. The Company offers railcar management, regulatory compliance services and leasing services to railroads and other railcar owners in North America. Its products include freight railcars, tank cars, intermodal railcars, automotive and sustainable conversions. Its North American management services business offers a range of software and services that include railcar maintenance management, railcar accounting services, total fleet management, fleet logistics, administration and railcar re-marketing.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Webcast Access: Investors can access the earnings release and webcast through the Greenbrier website, with the webcast archived for 30 days, allowing those unable to attend live to catch up later.
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- Webcast Access: Investors can access the earnings release and webcast through the Greenbrier website, with the webcast being archived for 30 days to ensure that those unable to attend live can still obtain the information.
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