The Oregon-based freight railcar manufacturer announced its fourth quarter railcar orders, which are valued at $200 million, and additional orders at the beginning of the company’s 2018 fiscal year.
Oregon-based railcar manufacturer Greenbrier Companies, Inc., has announced its fourth quarter orders, thus closing out its 2017 fiscal year and “signaling a strong start” to 2018.
New orders during its fourth quarter, ended August 31, 2017, totaled 2,500 railcar units valued at $200 million. Orders for another 1,400 units were received after the quarter ended, valued at $120 million. Both orders, which consist of a broad range of railcar types including double-stack intermodal units, covered hoppers for carrying a variety of products, automotive-carrying railcars, and tank cars, bring the company’s total orders received since May 31, 2017 to 3,900 units.
“Order activity in the fourth quarter and early fiscal 2018 demonstrates the benefit of focusing on core North American business while we continue to gain traction internationally,” said William A. Furman, chairman and chief executive officer. “More than 25 percent of orders announced today originated from markets outside North America. Greenbrier’s strategy remains to sustain our foundational North American business while we simultaneously expand our international presence. This strategy is helping to significantly grow Greenbrier’s global market opportunity, bringing greater balance through the peaks and valleys of the economic cycle.”
The company received over 16,500 railcars in North America, Europe and Brazil during 2017, valued at $1.5 billion, the company’s CEO said. “The number and value of railcars ordered in fiscal 2017 was more than double fiscal 2016. This strong order activity contributed to our already diverse and high-quality backlog, providing visibility for fiscal 2018 and beyond. Our backlog, combined with the order activity in the first month of the fiscal year, gives us continued confidence in current operating expectations. While markets remain competitive, we expect EPS growth in fiscal 2018 to be driven by higher revenue and deliveries from domestic and foreign markets, broadening product lines, access to new global customers, and creative transactions like our recent multi-year agreement with Mitsubishi UFJ Lease & Finance.”
Greenbrier expects to announce fiscal 2017 earnings and provide additional fiscal 2018 guidance on later this month.
Greenbriar orders signal ‘strong start’ to its FY2018
