Greenbrier Companies Inc (NYSE:GBX) has received new orders totaling 5,500 units valued at more than $530 million received thus far during its fourth fiscal quarter that began on June 1..
Orders are from diverse customers and comprise a broad range of railcar types, including intermodal, boxcars, tanks, covered hoppers, and gondolas.
Greenbrier said new orders increase the backlog and provide further visibility entering fiscal 2022.
The company expects this order trend to continue into fiscal 2022.
CEO William A. Furmansaid, “Greenbrier continues to see momentum in our markets as we navigate the economic recovery and COVID variants. Our commercial and leasing teams have performed exceptionally in this environment. Greenbrier’s proven ability to adjust production capacity in response to growing demand positions us to actively secure new orders, strengthening our backlog. We expect this order trend to continue into fiscal 2022.”
Certain orders referenced in this release are subject to customary documentation and completion of terms.
Greenbrier, headquartered in Lake Oswego, Oregon, is a leading international supplier of equipment and services to global freight transportation markets. Through its wholly-owned subsidiaries and joint ventures, Greenbrier designs, builds and markets freight railcars and marine barges in North America, Europe and Brazil. Greenbrier is a leading provider of freight railcar wheel services, parts, repair, refurbishment and retrofitting services in North America through our wheels, repair & parts business unit.
GBX shares are trading higher by $1.01, or 2.3% at $44.56 on Thursday.