Greenbrier Companies Inc (NYSE: GBX) shares are trading lower by around 16% after the company reported Q4 FY23 results.
Revenue rose to $1.017 billion from $950.7 million a year ago and above the consensus of $990.34 million. The company's high lease fleet utilization stood at 98.3% on a 13,400-unit fleet.
GBX has secured orders for 15,300 new railcars, totaling $1.9 billion in value in Q4.
The company delivered 7,000 units in Q4 and 26,000 units in FY23. As of August 31, 2023, the diversified new railcar backlog stood at 30,900 units with an estimated value of $3.8 billion.
Adjusted EBITDA ...