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Greenbrier Companies Inc. (GBX+0.90%) has submitted its 10-Q filing for the quarterly period ended November 30, 2024.
The filing includes financial statements for the quarter, showing an increase in revenue to $875.9 million from $808.8 million in the same quarter the previous year. The increase is attributed to higher railcar deliveries.
Cost of revenue for the quarter was $702.3 million, compared to $687.5 million in the same quarter of the previous year. This increase is due to higher railcar deliveries and increased costs in the Leasing & Fleet Management segment.
The company reported a margin of 19.8% for the quarter, compared to 15.0% in the previous year, with the improvement attributed to operating efficiencies and a favorable product mix.
Selling and administrative expenses increased to $62.0 million from $56.3 million, primarily due to higher employee-related costs.
Net earnings for the quarter were $59.1 million, up from $33.2 million in the previous year. After accounting for noncontrolling interest, net earnings attributable to Greenbrier were $55.3 million, compared to $31.2 million in the previous year.
Cash used in operating activities was $65.1 million, while cash used in investing and provided by financing activities were $53.7 million and $63.4 million, respectively.
Greenbrier had cash and cash equivalents of $300.0 million as of November 30, 2024. The company has available borrowings of $248.7 million under its credit facilities.
The filing also details various financial agreements, including a $450.0 million nonrecourse warehouse credit facility for GBX Leasing and a $600.0 million revolving line of credit for North America.
The company announced a quarterly dividend of $0.30 per share and extended its share repurchase program to January 31, 2027, with $100.0 million authorized for repurchase.
The company continues to focus on its strategic plan, highlighting its railcar backlog of 23,400 units valued at $3.0 billion, with deliveries extending into 2026 and beyond.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Greenbrier Companies Inc. quarterly 10-Q report dated January 10, 2025. To report an error, please email earnings@qz.com.