Greenbrier reports Q1 GAAP EPS 96c, consensus 73c

Reports Q1 revenue $808.8M, consensus $849.94M. “Strong performance in the first quarter across all of our operating segments demonstrates continued progress toward achieving the targets established in our multi-year strategy. Aggregate gross margin of 15% in the quarter is a key indicator of success,” said Lorie Tekorius, CEO and President. “Importantly, our new railcar backlog remains robust and is supported by quality products and customer loyalty, making Greenbrier a market leader. Our backlog, combined with programmatic railcar rebuilding activity not included in backlog, provides clear revenue visibility into 2025. In Leasing, the disciplined construction of our leased railcar fleet and increasing lease rates make doubling our high-margin recurring revenue an achievable goal in the years ahead. The pace of progress on our strategic goals is encouraging as we work to enhance Greenbrier’s financial performance during periods of strong market demand and stabilize performance at higher levels when demand is less favorable.”