Greenbrier announces orders for 15,300 new railcars valued at $1.9 billion
- Broad demand leads to highest quarterly orders in nearly a decade. Diverse range of orders across railcar types exceeds expectations. Expectations for steady railcar demand in future periods.
- None.
Broad demand across all railcar types leads to highest quarterly orders in nearly a decade
Lorie L. Tekorius, CEO and President, said, "Greenbrier continued its solid operational execution, and our Commercial team performed exceptionally in our fiscal fourth quarter. Our backlog and this order activity provide clear visibility through fiscal 2024, increasing our confidence in our operating expectations. Further, our leasing and aftermarket services businesses will provide additional stability and balance through economic cycles."
"The diverse range of orders across railcar types exceeded Greenbrier's expectations for the quarter. It also indicates Greenbrier's strength in our North American and European markets. Order levels are distinct from the high demand seen during the crude-by-rail era of the 2010s. Today, one or two railcar types are not powering the market. Although railcar loadings are not fully back at pre-pandemic levels, we believe that growth in key commodity markets will keep railcar demand steady and above replacement levels in future periods," said Brian J. Comstock, EVP Chief Commercial and Leasing Officer.
Greenbrier expects to announce fiscal fourth-quarter and fiscal year 2023 earnings on Wednesday, October 25. Certain orders referenced in this release are subject to customary documentation and completion of terms.
About Greenbrier
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Forward-Looking Statements
This press release contains forward-looking statements, including statements that are not purely statements of historical fact. Greenbrier uses words, and variations of words, such as "backlog", "believe", "confidence", "demand", "demonstrate," "expect", "future", "indicate", "keep", "lead", "will", and similar expressions to identify forward-looking statements. These forward-looking statements include statements concerning Greenbrier's expected financial results. These forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and important factors that could cause actual results to differ materially from the results contemplated by the forward-looking statements. Such risks, uncertainties and important factors that might cause such a difference include, but are not limited to, the following: an economic downturn and economic uncertainty; inflation (including rising energy prices, interest rates, wages and other escalators) and policy reactions thereto (including actions by central banks); disruptions in the supply of materials and components used in the production of our products; the war in
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SOURCE The Greenbrier Companies, Inc.