What is The Greenbrier's gross profit margin?

What is the revenue and EPS growth rate for The Greenbrier year over year?

What factors drove the changes in The Greenbrier's revenue and profit?

What guidance did The Greenbrier's management provide for the next earnings period?

What does The Greenbrier do and what are its main business segments?

What is the market's earnings forecast for The Greenbrier next quarter?

What were the key takeaways from The Greenbrier’s earnings call?

What were the key takeaways from The Greenbrier's earnings call?

- **Record Fiscal 2025 Performance**: $6.00 EPS, $425M EBITDA, 19% gross margin, $265M cash flow.
- **Cost Efficiency**: $20M annual savings from Europe restructuring, Mexico in-sourcing driving margin expansion.
- **Leasing Growth**: Recurring revenue up 50% to $170M, 98% fleet utilization, $300M+ annual lease investments.
- **FY2026 Guidance**: 17.5-20.5K deliveries, $2.7-3.2B revenue, 16-16.5% gross margin, $3.75-4.75 EPS.
- **Market Resilience**: Programmatic restoration work offsets new car demand decline; competitive pricing disciplined in specialty segments.

**【CEO Summary Section】**
- Fiscal 2025 was a record year with diluted EPS of $6.00, core EBITDA of $425 million, and operating cash flow of $265 million.
- Aggregate gross margin reached nearly 19%, driven by manufacturing efficiency and cost control.
- Europe restructuring actions will yield $20 million annualized savings without impacting production capacity.
- Leasing & Fleet Management recurring revenue grew 50% to $170 million over 4 quarters, with 98% fleet utilization.
- FY2026 guidance: 17,500-20,500 deliveries, revenue $2.7-3.2 billion, gross margin 16-16.5%, EPS $3.75-4.75.

**【CFO Financial Commentary】**
- Q4 2025 revenue $760 million, core EPS $1.26, EBITDA $115 million (15% of revenue).
- Gross margin 19% (up 90bps QoQ) due to Mexico efficiency and FX benefits.
- Operating cash flow $98 million, free cash flow positive for the year.
- FY2026 capital allocation: $80M manufacturing, $240M lease fleet investment.

**【Q&A Key Highlights】**
- **Market Outlook**: Near-term demand softness expected, but programmatic railcar restoration work offsets backlog decline. Europe restructuring positions for higher margins.
- **Production Plan**: FY2026 deliveries front-loaded, with ramp-up in Q3/Q4 driven by customer needs and production efficiency improvements.
- **Leasing Growth**: Secondary market active, targeting $300M annual lease fleet investment. 10% of 2026 renewals already locked at higher rates.
- **Competitive Landscape**: Pricing disciplined in specialty cars (tank, hopper), commoditized cars face pressure.
- **Tariffs**: Contracts structured to mitigate risk; U.S. production flexibility supports resilience.

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