Greenbrier Companies Inc (GBX) SEC Filing 10-K Annual report for the fiscal year ending Friday, August 31, 2018

Home SEC Filings Greenbrier Companies Inc (GBX) 10-K Annual Report Fri Oct 26 2018

Exhibit 99.1

 

News Release    LOGO
One Centerpointe Drive Suite 200 Lake Oswego, Oregon 97035 503-684-7000   www.gbrx.com

 

For release:   October 26, 2018, 6:00 a.m. EDT
    Contact:    Lorie Tekorius, Investor Relations
        Justin Roberts, Investor Relations
        503-684-7000

Greenbrier Reports Fourth Quarter and Fiscal Year Results

~ Orders for 9,300 units valued at over $1.0 billion ~

~ Backlog grows to nearly $3.0 billion; Book-to-bill of 1.6x ~

~ Earnings performance third best in Greenbrier history ~

~ Earnings guidance for Fiscal 2019 of $4.20 – $4.40 per share; Increase from

2018 Adjusted EPS ~

Lake Oswego, Oregon, October 26, 2018 – The Greenbrier Companies, Inc. (NYSE: GBX) today reported financial results for its fourth fiscal quarter and year ended August 31, 2018.

Fourth Quarter Highlights

 

  •  

Net earnings attributable to Greenbrier for the quarter were $30.9 million, or $0.94 per diluted share, on revenue of $689.2 million.

 

  •  

Adjusted EBITDA for the quarter was $75.3 million, or 10.9% of revenue.

 

  •  

New railcar deliveries totaled 6,000 units for the quarter.

 

  •  

Diversified orders of 9,300 railcars were received during the quarter, valued at over $1.0 billion. Sequential increase in book-to-bill to 1.6x from 1.1x in the third quarter.

 

  •  

New railcar backlog was 27,400 units with an estimated value of $2.7 billion.

 

  •  

Board declares a quarterly dividend of $0.25 per share, payable on December 5, 2018 to shareholders of record as of November 14, 2018.

Fiscal Year 2018 Highlights

 

  •  

Net earnings attributable to Greenbrier for the year were $151.8 million, or $4.68 per diluted share, on revenue of $2.5 billion. Adjusted net earnings attributable to Greenbrier for the year were $133.9 million, or $4.13 per diluted share.

 

($ in millions except per share)

    Net earnings attributable
to Greenbrier		      Diluted EPS  

Unadjusted (GAAP)

    $ 151.8      $ 4.68  

GBW goodwill impairment

      9.5        0.29  

Non-recurring tax benefit

      (27.4 )       (0.84 ) 
  

 

 

     

 

 

  

Adjusted

    $ 133.9      $ 4.13  
  

 

 

     

 

 

  

 

  •  

Adjusted EBITDA for the year was $318.2 million, or 12.6% of revenue.

 

  •  

New railcar deliveries totaled 20,900 units for the year.

 

- More -

The following information was filed by Greenbrier Companies Inc (GBX) on Friday, October 26, 2018 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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Ticker: GBX
CIK: 923120
Form Type: 10-K Annual Report
Accession Number: 0001193125-18-309099
Submitted to the SEC: Fri Oct 26 2018 12:13:19 PM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Friday, August 31, 2018
Industry: Railroad Equipment

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