Greenbrier Companies Announces Q2 Results

Image: Greenbrier Companies.

In its second quarter ending Feb. 29, Greenbrier Companies, Inc. expanded its lease fleet and secured new railcar orders, the Oregon-based freight transportation provider announced April 5.

The company located in Lake Oswego said it was able to grow its lease fleet by 500 units to 14,600 with almost 99% of the fleet in steady use. Greenbrier also brought in 5,900 units of new railcar orders valued at nearly $690 million and delivered 5,600 units, resulting in a new railcar backlog of 29,200 units worth roughly $3.6 billion, the company said.

Greenbrier’s net earnings for the quarter were $33 million on $863 million of revenue.

“Greenbrier’s broad product lineup, extensive market relationships, supportive customer experience, and deep commercial origination capabilities combine to create our unique leadership position and enable ongoing success,” said company CEO and President Lorie L. Tekorius. “These factors provide revenue visibility while supporting our profitable leasing business, which is growing through the disciplined investment in our leased railcar fleet and robust lease renewals.”

Greenbrier is one of the largest freight rail manufacturers in the United States and a leading international supplier of equipment and services to global freight transportation markets. It is also a leading provider of freight railcar wheel services, parts, maintenance and retrofitting services in North America through its maintenance services business unit.

By Karen Robes Meeks