Mon, Jul 8, 8:17 PM (61 days ago)
The Greenbrier Companies, Inc. reported a quarterly revenue of $820.2 million for the period ending May 31, 2024, representing a 21.0% decrease from the previous year. The decline was primarily due to reduced railcar deliveries and lower volumes in the Maintenance Services segment. Despite the revenue drop, the company achieved a net earnings increase to $33.9 million, up 59.2% year-over-year, driven by improved margins and operational efficiencies. The Manufacturing segment saw a 22.9% rise in operating profit due to favorable product mix and efficiency gains. The Leasing & Management Services segment also performed well, with a 44.9% revenue increase and a 56.4% rise in operating profit. The company maintained a strong cash position with $271.6 million in cash and equivalents, and $333.7 million in available borrowings. Future outlook includes continued focus on strategic goals, increasing recurring revenue, and managing macroeconomic uncertainties.