Greenbrier Companies Inc. reported its financial results for the second quarter of fiscal 2025, revealing a total revenue of $762.1 million, a decrease of 11.7% from $862.7 million in the same quarter of the previous year. The decline was primarily attributed to a 5.7% drop in railcar deliveries and a shift in product mix. Despite the revenue decrease, the company achieved a net earnings increase of 55.4%, reaching $51.9 million compared to $33.4 million in the prior year, driven by improved operational efficiencies and a higher net gain on the disposition of equipment.
For the six months ending February 28, 2025, Greenbrier's total revenue was $1.638 billion, down 2.0% from $1.672 billion in the same period last year. The Manufacturing segment generated $1.521 billion, a slight decrease from $1.571 billion, while the Leasing & Fleet Management segment saw a revenue increase to $117.3 million from $100.8 million. The overall margin percentage improved to 19.1%, up from 14.6%, reflecting better operational efficiencies and a favorable product mix.
In terms of operational developments, Greenbrier's owned lease fleet expanded by 1,100 railcars, marking a 7.1% increase since August 31, 2024. The company reported a backlog of 20,400 railcars valued at approximately $2.6 billion as of February 28, 2025, with deliveries expected to extend into 2026 and beyond. The company also announced the closure of a manufacturing facility in Romania as part of its strategy to optimize its industrial footprint.
The company’s financial position showed total assets of $4.267 billion, slightly up from $4.255 billion at the end of the previous fiscal year. Cash and cash equivalents decreased to $263.5 million from $351.8 million, while total equity rose to $1.620 billion from $1.537 billion. Greenbrier's debt levels remained stable, with total notes payable at $1.385 billion, down from $1.404 billion.
Looking ahead, Greenbrier remains focused on its strategic objectives, including increasing recurring revenue and enhancing return on invested capital. The company is navigating challenges such as changing trade policies and geopolitical uncertainties while maintaining a steady demand for its products and services. The management expressed confidence in the company's ability to manage these risks and achieve its long-term goals.
About GREENBRIER COMPANIES INC
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