Company Overview - Greenbrier Companies is a leading international supplier of equipment and services to global freight transportation markets, headquartered in Lake Oswego, Oregon [2] - The company designs, builds, and markets freight railcars in North America, Europe, and Brazil, and is a major provider of freight railcar wheel services, parts, maintenance, and retrofitting services in North America [2] - Greenbrier owns a lease fleet of approximately 16,700 railcars, primarily originating from its manufacturing operations, and offers railcar management, regulatory compliance services, and leasing services to railroads and other railcar owners in North America [2] Financial Performance - Greenbrier announced a quarterly cash dividend of $0.32 per share, marking its 45th consecutive quarterly dividend [1]

Q4 2019 & Full Year 2019 Performance - Q4 2019 revenues were $400 million, a 21% increase compared to 2018[12] - Q4 2019 GAAP operating income was $20 million, a 29% decrease compared to 2018[12] - Q4 2019 adjusted operating income was $31 million, a 12% increase compared to 2018[12] - Full year 2019 revenues were $1.504 billion, a 12% increase compared to 2018[30] - Full year 2019 GAAP operating income was $104 million, a 20% decrease compared to 2018[30] - Full year 2019 adjusted operating income was $148 million, a 12% increase compared to 2018[30] Segment Performance - Harsco Environmental Q4 2019 revenues were $243 million, a 7% decrease compared to 2018[15] - Harsco Clean Earth Q4 2019 revenues were $82 million, a 22% increase compared to 2018[20] - Harsco Rail Q4 2019 revenues were $75 million, an 8% increase compared to 2018[25] 2020 Outlook - The company projects low-single digits percentage increase in revenues and adjusted EBITDA for 2020 versus 2019[32] - The company projects Clean Earth revenues of $310 to $330 million, a high-single digits growth year-over-year[32] - The company projects Rail revenues to increase approximately 30% at the mid-point of the range[32]

Company Participation - FreightCar America, Inc. will participate in the Noble Capital Markets Virtual Equity Conference on June 4, 2025 [1] - The company's President and CEO, Nick Randall, along with CFO Mike Riordan, will host one-on-one meetings with investors throughout the day [1] Company Overview - FreightCar America is a diversified manufacturer and supplier of railroad freight cars, railcar parts, and components [3] - The company specializes in railcar repairs, complete railcar rebody services, and railcar conversions to repurpose idled rail assets back into revenue service [3] - Established in 1901, FreightCar America has been trusted by customers to build quality railcars that are critical to economic growth and the North American supply chain [3]

Core Insights - Greenbrier Companies, Inc. announced the renewal and extension of two bank facilities totaling $850 million, which includes a $600 million domestic revolving facility and a $250 million term loan, both extended by five years until 2030 [1][2] - The company has strategically realigned its debt profile to feature more non-recourse borrowing, following two successful Asset Backed Security offerings in 2022 and 2023, and has repaid $180 million of recourse debt [2] - Greenbrier maintains a lease fleet of approximately 16,600 railcars and is a leading provider of freight railcar wheel services, parts, maintenance, and retrofitting services in North America [3] Financial Strategy - The renewal and extension of bank facilities demonstrate Greenbrier's purposeful approach to debt management and capital deployment, aimed at maximizing shareholder returns [2] - The company emphasizes the importance of a healthy liquidity position as a cornerstone of its strategy to navigate various market conditions [2] Company Overview - Greenbrier is headquartered in Lake Oswego, Oregon, and is a leading international supplier of equipment and services to global freight transportation markets [3] - The company designs, builds, and markets freight railcars in North America, Europe, and Brazil, and offers railcar management and regulatory compliance services [3]

Core Viewpoint - FreightCar America, Inc. will participate in the Wolfe 18th Annual Global Transportation & Industrials Conference on May 20, 2025, indicating its engagement with investors and the industry [1]. Company Overview - FreightCar America is a diversified manufacturer and supplier of railroad freight cars, railcar parts, and components, headquartered in Chicago, Illinois [3]. - The company specializes in railcar repairs, complete railcar rebody services, and railcar conversions, which repurpose idled rail assets back into revenue service [3]. - Established in 1901, FreightCar America has built a reputation for quality railcars that are essential for economic growth and the North American supply chain [3].

Core Insights - TX Rail Products, Inc. reported a decrease in revenue for the second quarter of fiscal year 2025, totaling $2.2 million, down 14.2% from $2.5 million in the same period last year [2] - Despite the revenue decline, the company experienced positive cash flow from operations, with net cash provided by operating activities amounting to $186,000 for the six months ended March 31, 2025 [5] - The company’s gross profit margin decreased from 33.6% to 28.0% year-over-year, attributed to the product mix sold during the quarter [3] Financial Performance - Revenue for the second fiscal quarter ended March 31, 2025, was $2.2 million, a decrease of 14.2% compared to the prior year [2] - Cost of goods sold decreased to $1.6 million from $1.7 million, reflecting a 6.9% reduction [3] - Operating expenses were reduced to $230,000 from $243,000, a decrease of 5.2% [4] - Net income for the second quarter was $367,000, down 37.4% from $587,000 in the same quarter of the previous year [4] Cash Flow and Balance Sheet - Cash and cash equivalents as of March 31, 2025, were $92,000, down from $114,000 as of September 30, 2024 [5] - Net cash used in investing activities was $0 for the first six months of fiscal 2025, compared to ($178,000) for the same period last year [6] - Accounts receivable increased by 47.2% to $943,000 as of March 31, 2025, from $641,000 as of September 30, 2024 [6] - Inventory rose to $3.6 million, a 25.1% increase from $2.8 million as of September 30, 2024 [7]

Core Insights - FreightCar America reported a strong first quarter for 2025, highlighting a 26% increase in gross profit and a gross margin expansion of 780 basis points [1][4] - The company generated operating cash flow of $13 million and adjusted free cash flow of $12 million, marking a significant improvement compared to the previous year [1][7] - Strong order intake of 1,250 railcars valued at approximately $141 million supports the company's reaffirmed full-year guidance [4][5] Financial Performance - Revenues for the first quarter of 2025 were $96.3 million, a decrease of 40.2% from $161.1 million in the same period of 2024 [7] - Gross profit was $14.4 million with a gross margin of 14.9%, compared to $11.4 million and a gross margin of 7.1% in the first quarter of 2024 [7] - Net income was reported at $50.4 million, or $1.52 per share, with adjusted net income of $1.6 million, or $0.05 per share [7][22] Operational Highlights - The company ended the quarter with a backlog of 3,337 units valued at $318 million, indicating strong future revenue potential [7] - FreightCar America maintained a healthy inquiry pipeline and backlog, positioning itself for increased deliveries throughout the year [5][6] - The company reaffirmed its fiscal year 2025 outlook, projecting railcar deliveries between 4,500 and 4,900 units, with revenue expectations of $530 to $595 million [6] Cash Flow and Financial Position - The company generated operating cash flow of $12.8 million, a $38.1 million increase year-over-year from cash used in the first quarter of 2024 [7][16] - Ending cash and cash equivalents were over $50 million, reflecting a strong financial position [6][7] - Adjusted free cash flow was reported at $12.5 million, compared to $30.5 million used in the first quarter of 2024, indicating a $43 million improvement [7][31]

Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices involving The Greenbrier Companies, Inc. and its officers or directors [1]. Financial Performance - On April 7, 2025, Greenbrier reported fiscal Q2 2025 results, with non-GAAP earnings per share of $1.69, missing consensus estimates by $0.09 [3]. - The company reported revenues of $762.1 million, which fell short of consensus estimates by $136.43 million and represented a year-over-year decline of 11.7% [3]. - Following the financial report, Greenbrier's stock price dropped by $5.11 per share, or 11.42%, closing at $39.63 per share on April 8, 2025 [3]. Operational Changes - Greenbrier announced the closure of a facility in Romania, attributing the decision to market conditions and a comprehensive analysis in Europe [3].

Core Viewpoint - Freightcar America (RAIL) is anticipated to report a year-over-year increase in earnings despite a decline in revenues for the quarter ended March 2025, with the actual results being crucial for its near-term stock price [1][2]. Earnings Expectations - The upcoming earnings report is expected to show quarterly earnings of $0.08 per share, reflecting a significant year-over-year increase of +300%, while revenues are projected to be $121.06 million, a decrease of 24.8% from the previous year [3]. - The consensus EPS estimate has been revised down by 12% over the last 30 days, indicating a reassessment by analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that the Most Accurate Estimate aligns with the Zacks Consensus Estimate, resulting in an Earnings ESP of 0%, which complicates predictions of an earnings beat [10][11]. - The stock currently holds a Zacks Rank of 3, indicating a neutral position, which further challenges the likelihood of exceeding the consensus EPS estimate [11]. Historical Performance - In the last reported quarter, Freightcar America had an expected EPS of $0.05 but delivered $0.21, resulting in a surprise of +320% [12]. - Over the past four quarters, the company has surpassed consensus EPS estimates twice [13]. Conclusion - While the company does not appear to be a strong candidate for an earnings beat, investors should consider other influencing factors when making decisions regarding the stock ahead of the earnings release [16].

Core Insights - FreightCar America received total orders valued at approximately $141 million for 1,250 railcars during Q1 2025, indicating strong demand and market share gains [1][2] - The company captured approximately 25% of all new railcars ordered in the quarter and 36% in its addressable market, marking the largest market share intake in 15 years [2] Company Performance - The sustained customer interest is particularly noted in gondolas, open-top hoppers, and covered hopper cars, which are integral to the company's diverse railcar portfolio [3] - The company's manufacturing agility and operational efficiency are highlighted as competitive strengths that enable it to capture market opportunities [3] Market Context - Railcars sold by FreightCar America in North America are not subject to tariffs due to compliance with the United States-Mexico-Canada Agreement, which is monitored by the company [3] - The company has a long-standing reputation since 1901 for building quality railcars that are critical to economic growth and the North American supply chain [4]