The earnings call reflected a strong financial performance and operational efficiency, demonstrating resilience and strategic execution. However, challenges such as a declining backlog and muted European market activity pose potential future risks.

Company Guidance -

Q4 2025

In the Greenbrier Companies' third-quarter 2025 earnings call, the company provided a comprehensive overview of its financial performance and future outlook. Greenbrier reported net earnings of $60.1 million, or $1.86 per share, with an aggregate gross margin of 18%, marking the seventh consecutive quarter at or above their mid-teens target. The company achieved a return on invested capital within its long-term target range. Greenbrier's liquidity was nearly $770 million, comprising almost $300 million in cash and over $470 million in available borrowing capacity. The company raised its aggregate gross margin guidance to a range of 17.7% to 18.3% and its operating margin guidance to a range of 10.6% to 11%. Greenbrier also highlighted a healthy global new railcar backlog of nearly 19,000 units and a strong leasing and fleet management performance, with recurring revenue reaching nearly $165 million over the last four quarters—a 50% growth from its starting point. The company remains optimistic about future market conditions, particularly with the potential positive impacts from U.S. trade and tax policy.

Strong Financial Performance

Greenbrier reported net earnings of $60.1 million or $1.86 per share, with an 18% gross margin, marking the seventh consecutive quarter achieving or exceeding mid-teens gross margin target.

Operational Efficiency Initiatives

Efficiency initiatives such as the European footprint rationalization and North American insourcing project are expected to realize savings of at least $10 million annually.

Leasing and Fleet Management Growth

Recurring revenue reached nearly $165 million over the last four quarters, representing nearly 50% growth from the starting point of $113 million two years ago.

Order and Backlog Strength

Greenbrier secured orders of 3,900 units worth more than $500 million in the quarter, with a global new railcar backlog at nearly 19,000 units providing industry-leading visibility.

Improved Liquidity and Balance Sheet

Greenbrier's liquidity reached nearly $770 million, with renewed bank facilities totaling $850 million and no significant debt maturities until 2027.

Greenbrier (GBX) Earnings, Revenues Date & History

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GBX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 24, 2025	2025 (Q4)	1.18 / -	1.92	―	―	―
Jul 01, 2025	2025 (Q3)	0.98 / 1.86	1.06	75.47% (+0.80)
Apr 07, 2025	2025 (Q2)	1.78 / 1.69	1.03	64.08% (+0.66)
Jan 08, 2025	2025 (Q1)	1.16 / 1.72	0.96	79.17% (+0.76)
Oct 23, 2024	2024 (Q4)	1.40 / 1.92	0.92	108.70% (+1.00)
Jul 08, 2024	2024 (Q3)	1.15 / 1.06	1.02	3.92% (+0.04)
Apr 05, 2024	2024 (Q2)	0.86 / 1.03	0.99	4.04% (+0.04)
Jan 05, 2024	2024 (Q1)	0.75 / 0.96	0.05	1820.00% (+0.91)
Oct 25, 2023	2023 (Q4)	1.00 / 0.92	0.6	53.33% (+0.32)
Jun 29, 2023	2023 (Q3)	0.60 / 1.02	0.09	1033.33% (+0.93)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

GBX Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 01, 2025	$46.70	$56.54	+21.07%
Apr 07, 2025	$44.11	$39.07	-11.43%
Jan 08, 2025	$59.32	$61.58	+3.81%
Oct 23, 2024	$50.26	$58.64	+16.67%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.