LONDON, UK / ACCESSWIRE / July 17, 2018 / If you want access to our free earnings report on The Greenbrier Cos., Inc. (NYSE: GBX) ("Greenbrier"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=GBX. The Company reported its third quarter fiscal 2018 operating and financial results on June 29, 2018. The maker of railroad freight car equipment reported its strongest order activity in 2.5 years. Additionally, the Company re-affirmed its guidance for FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Earnings Highlights and Summary

For the quarter ended May 31, 2018, Greenbrier recorded revenues of $641.4 million compared to $629.3 million in Q3 FY17, up 1.9% on a y-o-y basis, primarily due to higher wheel and component volumes and higher external syndication activities. The Company's revenue numbers lagged analysts' estimates of $671.8 million.

For Q3 FY18, Greenbrier recorded a gross margin of 16.9% compared to 16.7% in Q3 FY17; up 20 bps, primarily due to product mix, including wheels, higher management fees, and increased syndication activities.

Greenbrier's net earnings attributable to common shareholders were $33.0 million, or $1.01 per diluted share, in Q3 FY18 compared to $32.8 million, or $1.03 per diluted share, in Q3 FY17. The Company's results for the reported quarter included an impact of $9.5 million, $0.29 per share, net of tax, associated with a non-cash goodwill impairment charge recorded by GBW, which is Greenbrier's 50/50 joint venture (JV) with Watco Cos., LLC.

For Q3 FY18, Greenbrier's adjusted net earnings attributable to common shareholders were $42.4 million, or $1.30 per diluted share, which surpassed Wall Street's estimates of $1.14 per share.

Operating Results

During Q3 FY18, Greenbrier received orders for 6,000 diversified railcars, valued at over $600 million, and represented the Company's strongest order activity in 2.5 years, setting aside the 6,000-unit multiyear order from MUL in the previous fiscal year. Greenbrier's book-to-bill of 1.1x was the highest since May 2017.

For Q3 FY18, Greenbrier's new railcar deliveries totaled 5,600 units. Over 20% of the 5,600 units delivered in the reported quarter were outside of North America, reflecting the Company's expanded international footprint.

Greenbrier's new railcar backlog was 24,200 units, with an estimated value of $2.3 billion, as of May 31, 2018.

Cash Matters

At the end of Q3 FY18, Greenbrier's cash balances and available borrowings on credit facilities exceeded $985 million, including cash of $590 million. The Company's cash provided by operating activities was $87.3 million in the reported quarter.

Outlook

Greenbrier reaffirmed its annual earnings guidance of $5.00 per diluted share, which excludes $0.29 per share related to the goodwill impairment and includes the $0.70 per share of non-recurring net benefit from the Tax Cut and Jobs Act 2017.

Based on current business trends and production schedules for FY18, Greenbrier is forecasting deliveries to be approximately 20,000 to 21,000 units, which includes about 10% from Greenbrier-Maxion in Brazil.

For FY18, Greenbrier is projecting revenues to be approximately $2.5 billion and earnings per share to be $5.00, excluding the $0.29 per share impact of the GBW goodwill impairment, but including the $0.70 per share of non-recurring net benefit from the tax act.

Stock Performance Snapshot

July 16, 2018 - At Monday's closing bell, The Greenbrier's stock was marginally up 0.82%, ending the trading session at $55.00.

Volume traded for the day: 610.39 thousand shares, which was above the 3-month average volume of 476.81 thousand shares.

Stock performance in the last month ? up 11.79%; previous three-month period ? up 20.09%; past twelve-month period ? up 31.42%; and year-to-date ? up 3.19%

After yesterday's close, The Greenbrier's market cap was at $1.76 billion.

Price to Earnings (P/E) ratio was at 14.49.

The stock has a dividend yield of 1.82%.

The stock is part of the Services sector, categorized under the Railroads industry.

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