The railroad transportation equipment manufacturer posted net earnings of $66.9 million on revenues of $765.5 million for the fourth quarter of its fiscal 2015 year, which ended Aug. 31.
The Greenbrier Companies reported net income of $66.9 million for its fourth fiscal quarter ended Aug. 31, 2015, which represents a 56.3 percent increase from its third fiscal quarter ended May 31, 2015, according to the company’s most recent unaudited financial statements.
The Lake Oswego, Ore.-based railroad transportation equipment manufacturer posted revenues of $765.5 million for its fiscal 2015 fourth quarter, an increase of 7.1 percent from its fiscal 2015 third quarter. Greenbrier primarily attributed the increase to a surge in deliveries.
Adjusted earnings before interest, tax, debt and amortization for the quarter stood at $147.6 million, or 19.3 percent of the company’s revenue, up 26.9 percent from the prior quarter. Greenbrier attributed the increase to higher deliveries and margin and non-recurring costs in the third quarter.
Diluted earnings per share rose from $1.33 per share for the fiscal Q3 2015 to $2.02 per share for fiscal Q4 2015.
Greenbrier said it received diversified orders for 2,900 new railcars worth $470 million during its fiscal 2015 fourth quarter. In addition, the company delivered a total of 6,200 new railcars during the quarter, an increase of 8.8 percent from its fiscal 2015 third quarter.
“We remain optimistic about the long term fundamentals and drivers of new railcar demand,” Greenbrier Chairman and CEO William A. Furman said in a statement. “Industry forecasts support this view, with above long-term average levels of new railcar deliveries expected in North America through 2019. Our strategy to diversify our product offerings, create efficient, flexible manufacturing capacity in low-cost facilities, drive more value through our lease syndication model, and increase revenue diversity in international markets, along with our strong balance sheet, positions us well.
“We continued to realize positive operating momentum in the fourth quarter, leading to record revenue, margin and earnings for both the quarter and fiscal year as a whole,” added Furman. “We intend to build on this operating momentum, using the strength of our integrated model and our diversified high margin new railcar backlog, some of which stretches into 2020. We expect these factors will lead to another solid year of earnings and free cash flow in fiscal 2016.”
Greenbrier increases net earnings 56.3% in Q4 FY2015
