Greenbrier Companies Inc (NYSE: GBX) shares are trading higher by around 8% on Friday after the company reported Q1 FY24 results.
Revenue rose to $808.8 million (from $766.5 million a year ago) and above the consensus of $849.9 million.
The company's lease fleet utilization was 98%, and fleet size increased by 700 to 14,100 units.
GBX has secured orders for 5,100 new railcars worth $710 million and delivered 5,700 units in Q1.
As of Nov. 30, 2023, the new railcar backlog stood at 29,700 units with an estimated value of $3.8 billion.
Adjusted EBITDA came in at $93.2 million, with a margin of 11.5%.
Adjusted ...