Greenbrier Cos. (GBX) Tops Q4 EPS by 8c, Beats on Revenues; FY18 EPS/Revenue Guidance Above Consensus

Greenbrier Cos. (NYSE: GBX) reported Q4 EPS of $0.86, $0.08 better than the analyst estimate of $0.78. Revenue for the quarter came in at $611.4 million versus the consensus estimate of $652.68 million.

Business Outlook

Based on current business trends, industry forecasts and production schedules for fiscal 2018, Greenbrier believes:

• Deliveries will be 20,000 – 22,000 units including Greenbrier-Maxion (Brazil) which will account for up to 10% of deliveries
• Revenue will be $2.4 – $2.6 billion
• Diluted EPS of up to $4.00

GUIDANCE:

Greenbrier Cos. sees FY2018 EPS of $4.00, versus the consensus of $3.65. Greenbrier Cos. sees FY2018 revenue of $2.4-2.6 billion, versus the consensus of $2.25 billion.

Fourth Quarter Highlights

• Revenue for the quarter of $611.4 million increased 39% from quarter ended May 31, 2017 reflecting higher deliveries.
• Net earnings attributable to Greenbrier for the quarter were $23.7 million, or $0.75 per diluted share, and include a $3.5 million ($0.11 per share) impact associated with a goodwill impairment charge recorded by GBW.
• Adjusted net earnings attributable to Greenbrier for the quarter were $27.3 million, or $0.86 per diluted share.
• Adjusted EBITDA for the quarter was $73.3 million, or 12.0% of revenue.
• New railcar deliveries totaled 5,500 units for the quarter.
• Diversified orders of 2,500 railcars were received during the quarter, valued at $200 million. In September, orders for another 1,400 units were received, valued at $120 million.
• New railcar backlog as of August 31, 2017 was 28,600 units with an estimated value of $2.80 billion.
• Board increases the quarterly dividend to $0.23 per share, payable on December 6, 2017 to shareholders of record as of November 15, 2017.
• Board extends share repurchase authorization to March 2019.

For earnings history and earnings-related data on Greenbrier Cos. (GBX) click here.

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