Greenbrier Companies (GBX) GBX Q1 Financial Results Summary

2026-01-09 · Stocks · QuoteReporter

Greenbrier (GBX) Q1 2026 Financial Results Summary

On January 8, 2026, The Greenbrier Companies, Inc. (NYSE: GBX) announced its financial results for the first fiscal quarter ended November 30, 2025. This report highlights the company’s continued solid performance in various operational metrics.

First Quarter Highlights

• Net Earnings: $36 million, or $1.14 per diluted share.
• EBITDA: Nearly $98 million, representing 14% of revenue.
• Operating Cash Flow: $76 million.
• New Railcar Orders: 3,700 units valued at $550 million.
• Deliveries: 4,400 units, resulting in a new railcar backlog of 16,300 units worth an estimated $2.2 billion as of November 30, 2025.
• Share Repurchases: 303,000 shares repurchased for $13 million; $65 million remaining under the current share repurchase program.
• Quarterly Dividend: Declared at $0.32 per share, payable on February 17, 2026, to shareholders of record as of January 27, 2026, marking Greenbrier’s 47th consecutive quarterly dividend.

Business Outlook & Guidance for Fiscal 2026

• Deliveries: Expected between 17,500 – 20,500 units.
• Revenue: Forecasted between $2.7 billion – $3.2 billion.
• Aggregate Gross Margin: Anticipated between 16.0% – 16.5%.
• Operating Margin: Forecasted between 9.0% – 9.5%.
• Earnings Per Share: Expected between $3.75 – $4.75.
• Capital Expenditures: Totaling $285 million, with $80 million for manufacturing and $205 million for leasing & fleet management.

Financial Summary

• Total Revenue: $706.1 million, down 19.4% from $875.9 million in Q1 FY25.
• Aggregate Gross Margin: $103.3 million, a decrease of 40.4% from $173.6 million in the same quarter of the previous year.
• Aggregate Gross Margin Percentage: 14.6%, down from 19.8%.
• Selling and Administrative Expenses: $59.9 million, slightly down by 3.4% from $62 million in Q1 FY25.
• Net Gain on Disposition of Equipment: Reported a gain of $17.7 million versus a minimal loss of $0.2 million a year prior.
• Earnings from Operations: $61.1 million, a decline of 45.3% compared to $111.8 million in Q1 FY25.
• Core EBITDA: $97.6 million, down 36.7% from $154.6 million year-over-year.
• Core Net Earnings: $36.4 million, down 34.2% from $55.3 million in Q1 FY25.
• Core Diluted EPS: $1.14, down 35.5% from $1.77 in the previous year.

Segment Performance

• Manufacturing Segment:
• Revenue: $657.0 million, a decrease of 20.9% from $830.9 million.
• Gross Margin Percentage: 11.0%, down from 15.7%.
• Earnings from Operations: $48.6 million compared to $67.5 million, down 28.0%.

• Deliveries: 4,100 units, lower than 5,300 units last year.

• Leasing & Fleet Management Segment:

• Revenue: $49.1 million, up 9.1% year-over-year from $45.0 million.
• Gross Margin Percentage: 63.5%, slightly down from 64.9%.
• Earnings from Operations: Increased to $44.0 million, compared to $26.4 million, a growth of 66.5%.
• Owned Fleet: Steady at 17,000 units, with fleet utilization at 98.3% compared to 98.2% last quarter.

Summary

Overall, Greenbrier maintained a strong fleet utilization rate while reporting decreased revenues and earnings attributable to lower delivery volumes and production efficiency challenges. The company remains committed to strong operational performance and has outlined growth expectations and significant capital investments moving forward. Investors will look forward to the upcoming dividend and continued share repurchase initiatives as part of their long-term strategy.