For Part One:

The Greenbrier Companies, Inc. (NYSE: GBX) is a leading international supplier of equipment and services to global freight transportation markets, engaged in designing, building, and marketing freight railcars in North America, Europe, and Brazil. The company reported solid performance in its third quarter of fiscal 2025, indicating a stable condition with increased earnings and operational efficiency.

For the quarter ended May 31, 2025, Greenbrier’s net earnings were $60.1 million, or $1.86 per diluted share, reflecting an 11.6% increase from $1.69 per share in the previous quarter. Revenue rose 11% sequentially to $843 million, up from $762 million. The aggregate gross margin remained steady at 18%, marking the seventh consecutive quarter meeting or exceeding the mid-teens target.

Operating income stood at $93 million, representing 11% of revenue, an increase from $83.6 million, supported by favorable railcar delivery mix and increased syndication activity. EBITDA for the quarter reached $129 million, or 15% of revenue. Operating cash flow was robust at nearly $140 million, driven by increased earnings and working capital efficiencies. The company recorded a strong lease fleet utilization rate at 98%, with recurring revenue reaching nearly $165 million over the last 4 quarters, a growth of nearly 50% from $113 million two years ago.

Greenbrier achieved new railcar orders of 3,900 units valued at more than $500 million, along with deliveries of 5,600 units in the quarter. This resulted in a new railcar backlog of 18,900 units, equating to an estimated value of $2.5 billion. The balance sheet showed liquidity of nearly $770 million, including $300 million in cash and more than $470 million in available borrowing capacity.

The company also renewed and extended two bank facilities totaling $850 million into 2030. A dividend of $0.32 per share was declared, marking the company’s 45th consecutive quarterly dividend. In terms of future expectations, Greenbrier raised its guidance for aggregate gross margin and operating margin, affirming revenue and delivery outlooks for FY2025.

For Part Two:

Greenbrier Companies, Inc. reported third-quarter results for fiscal 2025 showing net earnings of $60.1 million, or $1.86 per diluted share. This is an increase from $54.4 million, or $1.69 per share in the previous quarter. Revenue increased 11% to $843 million, compared to $762 million. The aggregate gross margin remained stable at 18%, marking the seventh consecutive quarter the company met its mid-teens target.

Operating income was $93 million, or 11% of revenue, up from $83.6 million in the previous quarter. EBITDA for the quarter reached $129 million, representing 15% of revenue, with operating cash flow at nearly $140 million. Lease fleet utilization was high at 98%, with recurring revenue reaching nearly $165 million over the last four quarters, reflecting growth of nearly 50% from $113 million two years ago.

Greenbrier recorded new orders for 3,900 railcars valued over $500 million and delivered 5,600 units, which led to a total railcar backlog of 18,900 units, estimated at $2.5 billion. The company’s liquidity position improved, reaching nearly $770 million, including nearly $300 million in cash and over $470 million in available borrowing capacity.

In connection with its financial performance, Greenbrier renewed two bank facilities totaling $850 million into 2030. Additionally, the board declared a dividend of $0.32 per share, marking the company’s 45th consecutive quarterly dividend. Guidance updates included raising the aggregate gross margin expectations to a range of 17.7% to 18.3% and operating margins to a range of 10.6% to 11%. Greenbrier remains on track to affirm its revenue and delivery outlook for fiscal 2025.

For Part Three:

Greenbrier Companies, Inc. reported strong third-quarter results for fiscal 2025, with net earnings of $60.1 million, or $1.86 per diluted share, an increase from $54.4 million or $1.69 per share in the prior quarter. Revenue reached $843 million, an 11% increase sequentially from $762 million. The aggregate gross margin remained stable at 18%, marking the seventh consecutive quarter meeting the mid-teens target.

Operating income was reported at $93 million, or 11% of revenue, up from $83.6 million in the previous quarter. EBITDA reached $129 million for the quarter, representing 15% of revenue, with operating cash flow at nearly $140 million. The leasing fleet utilization remained high at 98%. Recurring revenue achieved nearly $165 million over the last four quarters, reflecting close to 50% growth from $113 million two years prior.

The company secured orders for 3,900 railcars valued over $500 million and delivered a total of 5,600 units, resulting in a railcar backlog of 18,900 units, estimated to be worth $2.5 billion. Greenbrier’s liquidity totaled nearly $770 million, with approximately $300 million in cash and over $470 million in available borrowing capacity.

Greenbrier renewed two bank facilities of $850 million extending to 2030. The board also declared a dividend of $0.32 per share, marking the company’s 45th consecutive quarterly dividend. The company raised its aggregate gross margin guidance to 17.7% to 18.3% and its operating margin guidance to 10.6% to 11%. Greenbrier affirms its revenue and delivery outlook for fiscal 2025.