Greenbrier Cos. (GBX) Guides FY15 adj.-EBITDA to $400M - $415M

Greenbrier Cos. (NYSE: GBX) disclosed Adjusted EBITDA guidance in the range of $400-$415 million for its fiscal year ending August 31, 2015. The disclosure of this new metric complements the financial guidance previously announced on January 7, 2015 and reaffirmed today. Based on current business trends and industry forecasts, Greenbrier continues to believe for its fiscal year 2015:

• Deliveries will be approximately 21,000 units
• Revenue will be approximately $2.6 billion, which excludes revenue from GBW Railcar Services as it is accounted for under the equity method of accounting
• Diluted EPS will be in the range of $5.20 to $5.50

The introduction of Adjusted EBITDA guidance and reiteration of delivery, revenue and diluted EPS guidance reaffirms a strong business outlook for GBX in FY2015.

William A. Furman, president and chief executive officer, said, "Overall, our business fundamentals are solid. Our diverse new railcar backlog of 41,200 units as of November 30, 2014 provides good visibility in 2015 and beyond. We are confident that Greenbrier is well-positioned to capitalize on market and regulatory trends and to take advantage of a number of established and emerging opportunities. We remain on track to achieve our fiscal 2015 guidance and longer-term goals of at least 20% aggregate gross margin and 25% ROIC by the second half of fiscal 2016."

Similar to previous years, financial results in the second half of the year are expected to be stronger than the first half. Also, while gross margins are expected to increase overall, management does not believe its track will be linear.

As noted in the "Safe Harbor" statement, there are risks to achieving this guidance. Certain orders and backlog in this release are subject to customary documentation and completion of terms.

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