RZV - Railcar Giant Greenbrier Faces Setback In Q3 - Can New Railcar Orders Turn the Tide? | Benzinga
The Greenbrier Companies, Inc. (NYSE:GBX) shares are tumbling today after the company reported worse-than-expected third-quarter FY24 results.
Revenue declined to $820.2 million from $1.038 billion a year ago and missed the consensus of $928.7 million.
The company’s lease fleet utilization was around 99%, and fleet size increased by 600 units to 15,200 units.
GBX has secured orders for 6,300 new railcars worth $830 million and delivered 5,400 units in the quarter.
As of May end, the new railcar backlog stood at 29,400 units, with an estimated value of $3.7 billion.
EBITDA came in at $104 million vs $95 million a year ago, with a margin of 13%. EPS of $1.06