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As of 4:15 PM 08/27/14 All times are local (Market data is delayed by at least 15 minutes).

greenbrier companies inc (GBX) Key Developments

The Greenbrier Companies, Inc. and Watco Companies LLC Launch GBW Railcar Services

The Greenbrier Companies, Inc. and Watco Companies LLC announced that they have completed formation of their 50/50 railcar repair joint venture creating the independent railcar repair shop network in North America. The new joint venture, called GBW Railcar Services, LLC (GBW), owns and operates the combined network of 38 railcar repair, refurbishment and maintenance shops of Greenbrier and Watco. GBW's network of facilities located across North America features 14 tank car repair shops certified by the Association of American Railroads as required by federal regulations. GBW is unique in its ability to service almost the entire range of railcar types in North America. The scale of GBW's shop network combined with the breadth of its service offerings provides a customer reach to GBW that is unrivaled by any independent railcar repair shop in North America. GBW creates premier capacity to service, recertify and retrofit North America's tank car fleet and offers a range of best in class repair and maintenance services for other general freight cars. For example, current requirements for federally-mandated tank car recertification are running at a rate of approximately 22,000 tank cars per year. Recertification is expected to increase by 25% from current levels through 2015 and steadily accelerate year over year to 2018 when more than 49,000 tank car re-certifications per year are expected to be required. The re-certifications are independent of any retrofit requirements that may result from pending federal rulemaking on tank car design.

The Greenbrier Companies, Inc. Declares a Quarterly Dividend, Payable on August 5, 2014

The Board of The Greenbrier Companies, Inc. declared a quarterly dividend of $0.15 per share, payable on August 5, 2014 to shareholders of record as of July 15, 2014.

The Greenbrier Companies, Inc. Reports Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended May 31, 2014; Provides Earnings Guidance for the Fourth Quarter and Fiscal Year 2014

The Greenbrier Companies, Inc. reported unaudited consolidated financial results for the third quarter and nine months ended May 31, 2014. For the third quarter, the company's revenue was $593,285,000, compared to $433,663,000 for the same period a year ago. Earnings from operations were $67,538,000, compared to loss of $47,072,000 for the same period a year ago. Earnings before income tax and earnings from unconsolidated affiliates were $62,101,000, compared to loss of $52,977,000 for the same period a year ago. Net earnings attributable to the company were $33,588,000 or $1.03 per diluted share, compared to loss of $56,030,000 or $2.10 per diluted share for the same period a year ago. For the nine months, the company's revenue was $1,585,856,000, compared to $1,272,203,000 for the same period a year ago. Earnings from operations were $140,362,000, compared to $2,424,000 for the same period a year ago. Earnings before income tax and earnings from unconsolidated affiliates were $126,082,000, compared to loss of $15,703,000 for the same period a year ago. Net earnings attributable to the company were $64,563,000 or $2.01 per diluted share, compared to loss of $31,764,000 or $1.20 per diluted share for the same period a year ago. Net cash provided by operating activities was $81,740,000, compared to $19,237,000 for the same period a year ago. Capital expenditure was $34,522,000, compared to $49,677,000 for the same period a year ago. Based on current business trends and industry forecasts, the company now expects fourth quarter revenue to increase 4-6% above third quarter revenue of $593 million, resulting in annual revenue in excess of $2.2 billion. EPS, excluding restructuring charges, for the fourth quarter in the range of $0.95 to $1.05. The above estimates reflect an anticipated 29% tax rate and nominal gains on disposition of equipment in the fourth quarter. For fiscal 2014, EPS, excluding restructuring charges, in the range of $2.98 to $3.08.

The Greenbrier Companies, Inc., Q3 2014 Earnings Call, Jul 02, 2014

The Greenbrier Companies, Inc., Q3 2014 Earnings Call, Jul 02, 2014

The Greenbrier Companies, Inc. Announces New Railcar Awards Including First for Tank Car of the Future

The Greenbrier Companies, Inc. announced its first awards from multiple customers for construction of 3,500 units of its new Tank Car of the Future. These awards, along with other awards for 4,200 railcars across a full range of railcar types, bring aggregate awards to 7,700 railcars valued at more than $960 million. In addition, the company disclosed there is strong interest from multiple customers in the retrofit of pre-2011 built tank cars currently operating in flammable commodity service. Greenbrier's Tank Car of the Future is designed for safer transportation of crude, ethanol and other flammables in North America as well as use for other hazardous traffic. The car has advanced safety features which include thicker steel, more robust top and bottom outlet protection and jacketed shells with ceramic insulation. These new design features combine to inhibit discharge of contents during a derailment, to reduce penetration of the tank shell and to slow pool fires that can result when hazardous contents of a tank car escape in a breach and are ignited.

 

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