Greenbrier Reports Second Quarter Results
~ Strong liquidity positions Greenbrier for upcoming recovery
~~ Orders for 3,800 new railcars valued at over $440 million - book-to-bill of 1.8x in the quarter
~~ Backlog expanded to 24,900 units with estimated value of $2.5 billion
~~ Trailing effects of COVID-19 and inclement weather produced a net loss attributable to Greenbrier of $9 million
~~ Completed formation of GBX Leasing joint venture
News provided by
Share this article
Share this article
LAKE OSWEGO, Ore., April 6, 2021 /PRNewswire/ The Greenbrier Companies, Inc. (NYSE: GBX) ( Greenbrier ), a leading international supplier of equipment and services to global freight transportation markets, today reported financial results for its second fiscal quarter ended February 28, 2021.
Greenbrier completes formation of GBX Leasing
~ New leasing company to complement existing go-to-market strategy
~~ Creates stable, tax-advantaged cash flows
~~ Initial leased railcar portfolio consists of $200 million of assets in 2021
News provided by
Share this article
Share this article
LAKE OSWEGO, Oregon, April 6, 2021 /PRNewswire/ The Greenbrier Companies, Inc. (NYSE: GBX) ( Greenbrier ), a leading international supplier of equipment and services to global freight transportation markets, today announced that it has completed the formation of GBX Leasing, a special purpose subsidiary, to own and manage a portfolio of leased railcars primarily built by Greenbrier.
GBX Leasing will acquire approximately $200 million per annum of newly-built and leased railcars from Greenbrier. The initial portfolio for GBX Leasing has been identified from leased railcars on Greenbrier s balance sheet or in its backlog. GBX Leasing will observe Greenbrier s established, strict port
Price action over last quarter: Up 34.55%
Company Description
Greenbrier Companies Inc designs, manufactures, and markets railroad freight car equipment in North America and Europe, marine barges in North America and provides wheel services, railcar refurbishment, and parts, leasing and other services to the railroad. Its segments include Manufacturing, Wheels, Repair and Parts, and Leasing and Services. The company generates a majority of its revenue from the manufacturing segment. Geographically, it derives a majority of revenue from the United States.
Related Articles (GBX)
Greenbrier: Fiscal Q2 Earnings Snapshot
April 6, 2021
FacebookTwitterEmail
On a per-share basis, the Lake Oswego, Oregon-based company said it had a loss of 28 cents.
The maker of railroad freight car equipment posted revenue of $295.6 million in the period.
Greenbrier shares have increased 33% since the beginning of the year. The stock has nearly tripled in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GBX at https://www.zacks.com/ap/GBX
A Peek Into The Markets: US Stock Futures Edge Lower Following Monday s Rally; Crude Oil Rises 2% benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.