- Greenbrier press release (NYSE:GBX): Q3 GAAP EPS of $0.09 misses by $0.48.
- Revenue of $793.5M (+76.3% Y/Y) beats by $57.37M.
- New railcar orders for 5,000 units valued at $670 million and deliveries of 5,200 units resulted in a book-to-bill of nearly 1.0x. Orders primarily originated in North America as Europe navigates the continued impact of the war in Ukraine.
- Diversified new railcar backlog as of May 31, 2022 was 30,900 units with a value of $3.6 billion and provides strong earnings visibility.
- Railcar refurbishment backlog of 3,100 units valued over $220 million is not included in new railcar backlog.
- Maintained lease fleet utilization of 98%.
Business Update & Outlook: Deliveries of 18,500 – 19,500 units including approximately 1,500 units in Greenbrier-Maxion (Brazil). Selling & administrative expense to be $210 - $215 million. Capital expenditures will be approximately $310 million in Leasing & Management Services, $50 million in Manufacturing and $10 million in Maintenance Services. Net of proceeds of equipment sales of approximately $155 million, capital expenditures in Leasing & Management Services will be $155 million.
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