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The Greenbrier Companies, Inc. (NYSE: GBX) is a premier international supplier known for its high-quality marine and rail transportation equipment and services. Headquartered in Lake Oswego, Oregon, Greenbrier designs, manufactures, and markets railroad freight car equipment throughout North America and Europe. The company also produces marine barges in North America and offers comprehensive wheel services, railcar refurbishment, parts, leasing, and other related services.
Greenbrier operates through three primary segments: Manufacturing, Maintenance Services, and Leasing & Management Services. The Manufacturing segment generates the majority of the company's revenue by delivering over 21,000 railcars annually, with a production capacity exceeding 35,000 railcars. Their asset management services extend to nearly 400,000 railcars, and the company owns a lease fleet of over 14,000 railcars, offering top-tier railcar management and regulatory compliance services.
The company's strategic initiatives are bolstered by strong engineering expertise and innovative capabilities, making it a crucial player in the transport of essential goods across the Americas, Europe, and the GCC countries. Greenbrier's railcar leasing syndication platform facilitates partnerships with leading fixed-asset investors, contributing to its robust financial performance.
Recent achievements include a record quarterly order of 15,300 new railcars worth $1.9 billion in Q4 2023, the highest in nearly a decade. Greenbrier's extensive backlog and commercial success provide clear visibility into fiscal 2024, with a confident outlook for sustained growth and profitability. Noteworthy updates include the completion of a follow-on offering of railcar asset-backed securities to secure long-term financing for its leasing business.
As of recent financial disclosures, Greenbrier reported solid performance across all operating segments, with an aggregate gross margin of 15% for Q1 2024. The company is on track to double its recurring revenue through strategic investments in its leased railcar fleet, aiming for continuous improvement in operational efficiency and market reach.
For more detailed information, visit www.gbrx.com.
The Greenbrier Companies (NYSE:GBX) will present at the 2021 Stephens Investment Conference on December 2, 2021, in Nashville, Tennessee. The live webcast starts at 8:00 am CT and can be accessed via the Greenbrier website. The presentation will be archived for 30 days.
Greenbrier, based in Lake Oswego, Oregon, is a premier supplier in global freight transportation, focusing on freight railcars and marine barges across North America, Europe, and Brazil. As of September 30, 2021, they manage approximately 444,000 railcars.
The Greenbrier Companies (NYSE: GBX) released its 2021 Environmental, Social and Governance (ESG) report, titled On Track Together, adhering to the Sustainability Accounting Standards Board (SASB) framework. The report highlights achievements such as a record-breaking safety performance, an increase in recycled steel from 47% to 51%, and successful completion of all goals set in the previous year's report. Leadership emphasized the importance of balancing environmental efficiency with business performance as key for future success.
The Greenbrier Companies (NYSE: GBX) reported solid financial results for Q4 FY21, achieving net earnings of $32 million ($0.95/share) on revenue of $599 million. They announced new railcar orders of 6,700 units worth $665 million, maintaining a robust backlog of 26,600 units valued at $2.8 billion. Liquidity stood at $835 million, including $647 million in cash. The company declared a quarterly dividend of $0.27 per share. For FY21, net earnings were $32 million, with $1.8 billion in new railcar orders and significant debt refinancing completed. Greenbrier expects deliveries of 16,000-18,000 units in FY22.
The Greenbrier Companies (NYSE: GBX) announced the appointment of Lorie Tekorius as CEO and President, effective March 1, 2022. This transition follows William A. Furman's tenure as Chairman and CEO, who will move to the role of Executive Chair until his retirement in September 2022. Tekorius, with a long-standing career at Greenbrier since 1995, has held various leadership roles, including COO and President. The Board emphasized the importance of internal succession and expressed confidence in Tekorius's ability to lead the company. Furman has overseen the company’s significant growth into a global freight railcar powerhouse.
The Greenbrier Companies (NYSE:GBX) will hold a conference call to discuss its financial results for Q4 2021, ending August 31, 2021. The call will take place on October 26, 2021, at 8:00 a.m. PDT. Shareholders and interested parties can access the call via webcast on the Greenbrier website. Alternatively, participants can join by phone using the provided dial-in numbers. Greenbrier is a leading supplier of equipment and services to global freight transportation markets, managing a significant fleet of railcars and offering various services across North America and Europe.
The Longwood Group, LLC has completed a significant acquisition of a 3,600 leased railcar portfolio, advising GBX Leasing, a joint venture with Greenbrier (NYSE:GBX). This acquisition complements GBX's ongoing agreement to acquire $200 million in leased railcars annually. CEO D. Stephen Menzies highlighted that the railcar portfolio's growth exceeded initial investment goals by 75% in the first year. As of September 30, GBX Leasing's total railcar portfolio comprises approximately 4,000 railcars valued at $350 million.
The Greenbrier Companies (NYSE: GBX) announced the acquisition of over 3,600 railcars, aiming to enhance its leasing operations via its GBX Leasing subsidiary. This acquisition is part of an initial strategy to invest $200 million in new railcars within its first year, and to date, GBXL has nearly 4,000 units valued at $350 million. The acquisition is designed to provide diversified leasing options to high credit lessees across various industries, potentially increasing revenues and shareholder value.
Greenbrier Companies (NYSE: GBX) announced the renewal and extension of three bank facilities totaling over $1.0 billion. This includes a $600 million domestic revolving facility, a $292 million term loan, and a $200 million non-recourse term loan. With no material debt maturing in the next five years, Greenbrier's Chairman emphasizes the importance of maintaining liquidity through the pandemic. The company has successfully refinanced $1.5 billion of debt, extending maturities into 2028 while maintaining a 1:1 debt-to-equity ratio and paying dividends for 29 consecutive quarters.
The Greenbrier Companies (NYSE: GBX) announced new orders for 5,500 railcars, valued at over $530 million, during its fourth fiscal quarter starting June 1, 2021. These orders enhance Greenbrier's backlog and demonstrate significant demand across various railcar types. CEO William A. Furman indicated market momentum as the company adapts production capacities to meet growing demand, suggesting a positive outlook for fiscal 2022.
The Greenbrier Companies (NYSE:GBX) announced the election of two new independent directors, Ambassador Antonio Garza and James R. Huffines, enhancing its Board of Directors from 10 to 12 members. Garza brings extensive experience in U.S.-Mexico relations, crucial for navigating trade agreements, while Huffines offers significant expertise in banking and finance. Both are expected to contribute immediately to Greenbrier's strategic planning and financial goals. This board refreshment reflects Greenbrier's commitment to strong governance and leveraging diverse expertise for business growth.
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