Exhibit 99.1

 

For release: October 31, 2013, 6:00 a.m. ET
   Contact:    Mark Rittenbaum
      503-684-7000

Greenbrier Announces Record Fourth Quarter Earnings;

$110 Million Net Debt Reduction Over Q3;

$50 Million Share Repurchase Program Authorized

~ Posts Q4 EPS of $0.69, before restructuring charges ~

Lake Oswego, Oregon, October 31, 2013 – The Greenbrier Companies, Inc. (NYSE: GBX) today reported financial results for its fourth quarter and fiscal year ended August 31, 2013.

Fourth Quarter Highlights

 

    Record net earnings for the quarter were $22.5 million, or $0.69 per diluted share, excluding restructuring charges of $1.8 million, on revenue of $484.2 million. “Economic” EPS was $0.79, which excludes the impact of out-of-the-money shares underlying our 3.5% convertible bonds.

 

    Net earnings attributable to Greenbrier, including restructuring charges, for the quarter were $20.7 million, or $0.64 per diluted share.

 

    Record Adjusted EBITDA for the quarter was $49.5 million or 10.2% of revenue.

 

    New railcar backlog as of August 31, 2013 was 14,400 units with an estimated value of $1.52 billion (average unit sale price of $106,000), compared to 14,200 units with an estimated value of $1.57 billion (average unit sales price of $111,000) on May 31, 2013.

 

    New railcar deliveries totaled 3,500 units for the quarter.

 

    Orders for 3,400 new railcars were received during the quarter. Subsequent to quarter end, Greenbrier received orders for another 1,700 units valued at approximately $140 million.

 

    Entered into several new long-term railcar maintenance agreements, including multi-year transaction with CIT Rail.

 

    Marine backlog as of August 31, 2013 was $10 million, compared to $1.6 million as of May 31, 2013.

Fiscal Year 2013 Highlights

 

    Record net earnings, excluding goodwill impairment and restructuring charges, were $62.5 million, or $2.00 per diluted share, on revenue of $1.76 billion.

 

    Goodwill impairment and restructuring charges of $73.6 million net of tax, or $2.41 per diluted share, related to the Wheels, Repair & Parts segment, led to a Net loss attributable to Greenbrier of $11.0 million, or $0.41 per share.


The following information was filed by Greenbrier Companies Inc (GBX) on Thursday, October 31, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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