Progressive Railroading

Newsletter Sign Up
Stay updated on news, articles and information for the rail industry

All fields are required.

Rail News Home Financials


Rail News: Financials

Greenbrier reaches record freight-car backlog, increases earnings in second-quarter FY06

Freight-car orders totaling $900 million in second-quarter FY2006 helped The Greenbrier Cos. reach a record backlog of 18,300 units valued at $1.2 billion on Feb. 28, the end of the company’s fiscal period. On Nov. 30, Greenbrier reported a backlog of 7,100 units valued at $450 million.

During the quarter, the company obtained orders for 7,000 double-stack intermodal platforms, and 7,000 covered hoppers, Auto-Max™ carriers and other cars.

In addition, Greenbrier registered net earnings of $8.6 million, a 78 percent increase compared with FY05’s second quarter. However, revenue totaling $236 million fell 7.5 percent.

“During the quarter, we acquired key box-car component product lines, which extend our vertical integration,” said Greenbrier president and Chief Executive Officer William Furman in a prepared statement. “In North America, we continue to see strong rail industry fundamentals … [and] in Europe, there has been a notable pickup in rail market activity and new rail-car orders, which should carry operating momentum well into fiscal 2007.”

Contact Progressive Railroading editorial staff.

More News from 4/5/2006