The Greenbrier Companies, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended November 30, 2012; Provides Earnings Guidance for the Fiscal 2013
January 09, 2013 at 04:30 pm IST
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The Greenbrier Companies, Inc. announced unaudited consolidated earnings results for the first quarter ended November 30, 2012. For the quarter, the company reported revenue of $415,374,000 against $398,199,000 a year ago. Earnings from operations were $23,087,000 against $26,880,000 a year ago. Net earnings attributable to Greenbrier were $10,427,000 or $0.35 per diluted share against $14,517,000 or $0.48 per diluted share a year ago. Net cash used in operating activities was $25,485,000 against $8,992,000 a year ago. Capital expenditures were $25,141,000 against $15,007,000 a year ago. Adjusted EBITDA was $31,836,000 against $37,586,000 a year ago.
Based on current business trends and industry forecasts, the company currently anticipates the company's new railcar deliveries in 2013 to be about 13,000 units. While deliveries are expected to be below the 15,000 deliveries for fiscal 2012, the company anticipates the product mix will be more favorable and include railcars with higher average selling prices.
The company also anticipates that fiscal 2013 revenue, adjusted EBITDA and earnings per share will be similar to fiscal 2012, with the second half of the year being stronger than the first half of the year. Non controlling interest will be up in 2013 as compared to 2012, and net CapEx will be approximately $85 million. The company expect tax rate to be about 34% to 35% for the balance of 2013.
The Greenbrier Companies, Inc. is a designer, manufacturer, and marketer of railroad freight car equipment in North America, Europe, and South America. It is a manufacturer and marketer of marine barges. It offers railcar management, regulatory compliance services and leasing services to railcar owners or other users of railcars. The Company operates through three segments: Manufacturing, Maintenance Services, and Leasing & Management Services. The Manufacturing segment produces automotive railcar products. The Maintenance Services segment performs wheel and axle servicing, railcar maintenance and produces a variety of parts for the rail industry in North America. The Leasing & Management Services segment operate railcar leasing business in North America and offers management services, such as software and services that include railcar maintenance management, fleet logistics and railcar accounting services. The Leasing & Management Services segment owns approximately 13,400 railcars.
The Greenbrier Companies, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended November 30, 2012; Provides Earnings Guidance for the Fiscal 2013