Greenbrier Reports Strong Q2 Results, Raises FY24 Revenue Forecast

Despite a decline in revenue, Greenbrier's Q2 earnings exceeded expectations, leading to an upward revision of its full-year revenue projections.

Greenbrier Companies reported a decline in Q2 revenue to $862.7 million from $1.122 billion a year ago but beat the consensus forecast.
The company's lease fleet utilization remained high at 99%, with a fleet size increase and new railcar orders worth $690 million.
Earnings per share of $1.03 exceeded analysts' expectations, contributing to a share price increase of 1.47%.
For FY24, Greenbrier now anticipates revenue between $3.50 billion and $3.70 billion, up from previous estimates.
The company's strong performance and positive outlook have led to a dividend of 30 cents per share, payable in May 2024.