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Rail News: Financials

Greenbrier registers record earnings, builds rail-car backlog in FY05's third quarter

Today, The Greenbrier Cos. reported fiscal third-quarter revenue of $286 million, a 27 percent increase compared with fiscal-year 2004’s third quarter. The company registered record quarterly earnings before special charges for prepayment of certain debt of $10.7 million and increased net earnings 42 percent to $9 million.

Quarterly rail-car deliveries of 3,600 units matched FY04’s third quarter, but Greenbrier increased its combined North American and European car backlog. On May 31, the company’s backlog stood at 11,500 units valued at $650 million compared with 9,700 units valued at $600 million on May 31, 2004.

“Financial performance was up in all of our major lines of business, and financial visibility extends well into 2006 as a result of our rail-car and marine backlog,” said Greenbrier Senior Vice President and Treasurer Mark Rittenbaum in a prepared statement.

Greenbrier builds freight cars in the United States, Canada and Mexico; builds and refurbishes cars for the European market at Polish and European facilities; repairs and refurbishes cars at 16 North American locations; manages a fleet of 10,000 cars; and provides management services for 128,000 cars.

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More News from 6/30/2005