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

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

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

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

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

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

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

What is The Greenbrier's gross profit margin?

- **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.

The Greenbrier Companies, Inc. (GBX) Q4 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

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Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

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Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

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Income Tax Adjustments

Net Income from Continuing Operations

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Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

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Other Comprehensive Income

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Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

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Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

GBX

GBX fundamentals

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