Greenbrier reports Q2 adjusted EPS 99c, consensus 50c

Reports Q2 revenue $1.12B, consensus $835.28M. Reports new railcar orders for 4,500 units valued at $580M and deliveries of 7,600 units. Reports new railcar backlog of 25,900 units with an estimated value of $3.1B. "Greenbrier’s strong performance in the second quarter is the result of ongoing operational initiatives and robust syndication activity. Railcar orders remained stable throughout the quarter, comprised of a broad range of railcar types. Business improved across the company as revenue and margin increased sequentially in each operating segment," said Lorie Tekorius, CEO and president. "We are excited to share our multi-year strategy to optimize our future performance as we will describe in detail at our Investor Day on April 12, 2023. While outcomes won’t be linear, we are already seeing progress in our manufacturing and services businesses and expect margin to improve on a steady or increasing revenue base in future periods."