The Greenbrier panies(US:GBX)2025-07-01 20:15Financial Performance - Net earnings attributable to Greenbrier were $60 million, or $1.86 per diluted share, on revenue of $843 million[3]. - Revenue for the three months ended May 31, 2025, was $842.7 million, a 2% increase from $820.2 million in the same period of 2024[14]. - Net earnings attributable to Greenbrier for the three months ended May 31, 2025, were $60.1 million, up 77% from $33.9 million in the same period of 2024[14]. - Basic earnings per common share increased to $1.92 for the three months ended May 31, 2025, compared to $1.09 for the same period in 2024, representing a 76% increase[14]. - The net earnings attributable to Greenbrier for the fiscal year were $160.1 million, resulting in a diluted earnings per share of $4.96[23]. Revenue and Orders - New railcar orders totaled 3,900 units valued at over $500 million, with a backlog of 18,900 units estimated at $2.5 billion[3]. - The company reported a total backlog of 18,900 units as of May 31, 2025, down from 20,400 units at the beginning of the period[26]. - Total revenue for fiscal 2024 reached $3,544.7 million, with manufacturing contributing $3,312.4 million and leasing & fleet management contributing $232.3 million[23]. Cash Flow and Capital Expenditures - Operating cash flow reached nearly $140 million, reflecting increased earnings and working capital efficiencies[3]. - Cash flows from operating activities for the nine months ended May 31, 2025, were $167.7 million, an increase from $138.4 million in the same period of 2024[15]. - Capital expenditures for manufacturing are updated to $145 million, while net capital expenditures are projected at $340 million[5]. Margins and Earnings - Aggregate gross margin was 18%, marking the seventh consecutive quarter meeting or exceeding the mid-teens gross margin goal[3]. - The company updated its fiscal 2025 guidance, maintaining revenue guidance of $3.15 billion to $3.35 billion and raising aggregate gross margin guidance to 17.7% - 18.3%[5]. - Core EBITDA for the three months ended May 31, 2025, was $128.5 million, compared to $123.9 million for the previous quarter[27]. Leasing and Fleet Management - The lease fleet utilization rate was strong at 98%[3]. - Greenbrier's leasing strategy aims to double recurring revenue from leasing and management fees by investing up to $300 million net annually over the next five years[18]. - The Greenbrier Lease Fleet increased to 16,800 units as of May 31, 2025, up from 16,600 units at the end of February 2025[19]. - Total Leasing non-recourse debt was $1,002.6 million as of May 31, 2025, with a fleet leverage of 77%[19]. - The leasing & fleet management segment generated external revenue of $64.5 million with earnings from operations of $45.3 million for the same period[25]. Dividends and Shareholder Returns - Greenbrier's board approved a quarterly dividend of $0.32 per share, representing the 45th consecutive quarterly dividend[3]. - Dividends per common share increased to $0.32 for the three months ended May 31, 2025, compared to $0.30 in the same period of 2024[14]. - The company maintained a dividend of $0.30 per common share throughout the fiscal year, totaling $1.20 per share[23]. Financial Flexibility and Debt - The company renewed and extended $850 million of bank facilities into 2030, enhancing financial flexibility[3]. - Total consolidated debt as of May 31, 2025, was $1,762.7 million, slightly up from $1,756.9 million at the end of February 2025[31]. - The effective tax rate decreased to 22.8% from 32.3%, attributed to a favorable geographic mix of earnings[7]. Future Outlook - The company anticipates continued growth in leasing performance and backlog orders, despite potential economic uncertainties[32].