The Greenbrier Companies, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended of November 30, 2016; Provides Earnings Guidance for the Full Year of 2017
January 06, 2017 at 06:00 am
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The Greenbrier Companies, Inc. reported unaudited consolidated earnings results for the first quarter ended of November 30, 2016. For the quarter, the company reported revenue of $552,314,000 compared to $802,389,000 a year ago. Earnings from operations were $72,660,000 compared to $148,485,000 a year ago. Earnings before income tax and earnings from unconsolidated affiliates was $70,936,000 compared to $143,049,000 a year ago. Net earnings were $47,966,000 compared to $98,713,000 a year ago. Net earnings attributable to the company were $24,962,000 compared to $69,433,000 a year ago. Diluted earnings per common share were $0.79 compared to $2.15 a year ago. Net cash provided by operating activities was $29,006,000 compared to net cash used in operating activities of $63,491,000 a year ago. Capital expenditures were $12,584,000 compared to $15,595,000 a year ago. Adjusted EBITDA was $85,671,000 compared to $104,384,000 a year ago.
For the full year of 2017, the company expects deliveries will be approximately 14,000 to 16,000 units. Revenue expected to be in the range of $2.0 billion to $2.4 billion. Diluted EPS expected to be in the range of $3.25 to $3.75. The company expects growth capital expenditures to be about $65 million, with about $25 million in proceeds from sales of leased assets. Depreciation and amortization is expected to be about $60 million. Tax rate is expected to be 28% to 30% based on the geographic mix of earnings.
The Greenbrier Companies, Inc. is a designer, manufacturer, and marketer of railroad freight car equipment in North America, Europe, and South America. It is a manufacturer and marketer of marine barges. It offers railcar management, regulatory compliance services and leasing services to railcar owners or other users of railcars. The Company operates through three segments: Manufacturing, Maintenance Services, and Leasing & Management Services. The Manufacturing segment produces automotive railcar products. The Maintenance Services segment performs wheel and axle servicing, railcar maintenance and produces a variety of parts for the rail industry in North America. The Leasing & Management Services segment operate railcar leasing business in North America and offers management services, such as software and services that include railcar maintenance management, fleet logistics and railcar accounting services. The Leasing & Management Services segment owns approximately 13,400 railcars.
The Greenbrier Companies, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended of November 30, 2016; Provides Earnings Guidance for the Full Year of 2017