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Greenbrier Companies Q3 earnings $15.2 million

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Christian Fernsby ▼ | July 2, 2019
Greenbrier Companies
Greenbrier Companies   Quarterly results include a $10.0 million ($0.30 per share) non-cash goodwill

The Greenbrier Companies reported financial results for its third fiscal quarter ended May 31, 2019.

Net earnings attributable to Greenbrier for the quarter were $15.2 million, or $0.46 per diluted share, on revenue of $856.2 million.

Quarterly results include a $10.0 million ($0.30 per share) non-cash goodwill impairment charge in the railcar repair operation and $4.3 million, net of tax, ($0.13 per share) of American Railcar Industries (ARI) acquisition costs.

Adjusted net earnings attributable to Greenbrier were $29.6 million ($0.89 per diluted share) excluding the goodwill impairment and ARI acquisition costs.

Adjusted EBITDA for the quarter was $84.4 million, or 9.9% of revenue.

Orders for 6,500 diversified railcars were received during the quarter, valued at $730 million.

Book-to-bill ratio was 1.0x.

New railcar backlog as of May 31, 2019 was 26,100 units with an estimated value of $2.74 billion.

New railcar deliveries totaled 6,500 units for the quarter.

Board declares quarterly dividend of $0.25 per share, payable on August 8, 2019 to shareholders as of July 18, 2019.

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