Greenbrier, the railcar maker, has announced a net profit of $31.2 million for the fiscal first quarter ended November 30. This is a substantial turnaround from the $16.7 million loss experienced during the same period last year. The company’s profitability was driven by strong revenue growth across its manufacturing and leasing and management services units.
Revenue Growth
Revenue for the quarter rose by 5.5% to $808.8 million, primarily due to the performance of the manufacturing unit. However, it fell short of analysts’ expectations, who had forecasted sales of $849.9 million.
The manufacturing unit recorded revenue of $675.9 million, compared to $646.5 million last year. However, this figure declined from the previous quarter’s $872.4 million due to a decrease in deliveries.
Strong Revenue Visibility
Greenbrier’s CEO, Lorie Tekorius, expressed confidence in the company’s future prospects by stating, “Our backlog, combined with programmatic railcar rebuilding activity not included in backlog, provides clear revenue visibility into 2025.”
Overall, Greenbrier’s impressive financial performance demonstrates its resilience and potential for long-term success in the railcar industry.
