Greenbrier Secures $1.9B In Orders For 15,300 New Railcars During Q4

The Greenbrier Companies, Inc. GBX has secured orders for 15,300 new railcars, totaling $1.9 billion in value, in its fiscal fourth quarter ending on August 31, 2023.

Greenbrier's Q4 orders showcase its strengths in lease origination and direct sales. The 15,300 units, ordered by customers across various sectors, cover different railcar types. Railcar orders announced do not include any multi-year order activity.

"Our backlog and this order activity provide clear visibility through fiscal 2024, increasing our confidence in our operating expectations. Further, our leasing and aftermarket services businesses will provide additional stability and balance through economic cycles," commented Lorie L. Tekorius, CEO and President.

"The diverse range of orders across railcar types exceeded Greenbrier's expectations for the quarter. It also indicates Greenbrier's strength in our North American and European markets. Order levels are distinct from the high demand seen during the crude-by-rail era of the 2010s," stated Brian J. Comstock, EVP Chief Commercial and Leasing Officer.

Price Action: GBX shares closed lower by 0.68% at $39.31 on Wednesday.