Greenbrier GAAP EPS of $1.06 misses by $0.07, revenue of $820.2M misses by $100.7M (NYSE:GBX)

Greenbrier press release (NYSE:GBX): Q3 GAAP EPS of $1.06 misses by $0.07.
Revenue of $820.2M (-21.1% Y/Y) misses by $100.7M.
Grew lease fleet by 600 units to 15,200 units with lease fleet utilization of nearly 99%.
Diverse new railcar orders for 6,300 units valued at $830 million and delivered 5,400 units, resulting in new railcar backlog of 29,400 units with an estimated value of $3.7 billion.
Board declared a quarterly dividend of $0.30 per share, payable on August 13, 2024 to shareholders of record as of July 23, 2024, representing Greenbrier's 41st consecutive quarterly dividend.
Based on current trends and production schedules, Greenbrier is updating guidance for fiscal 2024:
- Deliveries of 23,500 – 24,000 units, including approximately 1,400 units in Brazil
- Revenue of $3.5 – $3.6 billion
- Consolidated gross margin percentage increased to the mid-teens
- Capital expenditures of approximately $150 million in Manufacturing and $15 million in Maintenance Services
- Gross leasing investment of approximately $340 million in Leasing & Management Services, which includes 2024 capital expenditures and transfers of railcars into the lease fleet that were manufactured and subsequently held on the balance sheet in 2023
- Proceeds from equipment sales are expected to be approximately $75 million

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The Greenbrier Companies, Inc.