Exhibit 99.1

 

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

 

 

For release: October 25, 2019, 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

~ Record revenue of $3.0 billion and deliveries of 23,400 units ~

~ American Railcar Industries (ARI) manufacturing integration underway; Synergies of $15 million expected in fiscal 2020 ~

~ Provides guidance for 2020 ~

Lake Oswego, Oregon, October 25, 2019 – The Greenbrier Companies, Inc. (NYSE: GBX) today reported financial results for its fourth fiscal quarter and year ended August 31, 2019.

Fourth Quarter Highlights

 

   

Net earnings attributable to Greenbrier for the quarter were $35.1 million, or $1.06 per diluted share, on record revenue of $914.2 million. Quarterly results include $8.2 million, net of tax, ($0.25 per share) in costs related to the ARI acquisition.

 

   

Adjusted net earnings attributable to Greenbrier were $43.3 million ($1.31 per diluted share) excluding the ARI acquisition costs.

 

   

Adjusted EBITDA for the quarter was $109.4 million, or 12.0% of revenue.

 

   

Record new railcar deliveries totaled 7,300 units for the quarter.

 

   

Diversified orders of 4,900 railcars were received during the quarter, valued at over $500.0 million.

 

   

New railcar backlog was 30,300 units with an estimated value of $3.3 billion. Backlog reflects the transfer of 10,600 units from ARI and the removal of 3,500 small cube covered hoppers for sand service for which the company realized negotiated economic benefits. Remaining backlog does not include any other orders for the sand market.

 

   

Marine backlog exceeds $100 million and extends through calendar 2020.

 

   

Board declares a quarterly dividend of $0.25 per share, payable on December 4, 2019 to shareholders of record as of November 13, 2019.

 

   

Dividend yield approximately 3.1% as of October 24, 2019.

Fiscal Year 2019 Highlights

 

   

Net earnings attributable to Greenbrier for the year were $71.1 million, or $2.14 per diluted share, on record revenue of $3.0 billion. Adjusted net earnings attributable to Greenbrier for the year were $95.2 million, or $2.87 per diluted share, excluding the non-cash goodwill impairment charge and ARI acquisition costs.

 

-More-


The following information was filed by Greenbrier Companies Inc (GBX) on Friday, October 25, 2019 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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