What caused GBX's Q3 2024 earnings to miss forecasts?

The Greenbrier Companies, Inc. (NYSE:GBX) experienced a shortfall in its Q3 2024 earnings, missing forecasts, due to a combination of factors:

1. **Revenue Decline**: The company's revenue fell to $820.2 million in Q3 2024, compared to $1.038 billion in the same period the previous year. This decline of 21.1% year-over-year was a significant factor in the missed earnings. Additionally, the revenue fell short of the consensus estimate of $928.7 million.
2. **Utilization Rate**: Despite a 6.3% increase in the lease fleet, with the total number of units reaching 15,200, the lease fleet utilization rate was only slightly lower at 99% compared to the previous year's 100%. This suggests that while the company has more railcars, they may not be fully operational or in high demand, impacting revenue.
3. **Cost Management**: The company's net income for the quarter was $33.9 million, with an EPS of $1.06, which missed the forecast. This indicates that while revenue was below expectations, costs may have been higher than anticipated, contributing to the earnings shortfall.

In summary, GBX's Q3 2024 earnings miss was primarily due to a combination of revenue decline and cost management issues.