Greenbrier Cos. (NYSE: GBX) reported Q2 EPS of $1.09, $0.25 better than the analyst estimate of $0.84. Revenue for the quarter came in at $566.3 million versus the consensus estimate of $521.49 million.

• Net earnings attributable to Greenbrier for the quarter were $34.5 million, or $1.09 per diluted share, on revenue of $566.3 million.
• Adjusted EBITDA for the quarter was $94.5 million, or 16.7% of revenue.
• Strong balance sheet reflects over $900 million of total liquidity including issuance of $275 million of 2.875% convertible notes.
• Cash provided by operating activities totaled $52.9 million for the quarter.
• Diversified orders for 700 new railcars were received during this quarter, valued at approximately $50 million, or an average price of approximately $71,000 per railcar. Orders for 1,000 new railcars were received after quarter end.
• New railcar backlog as of February 28, 2017 was 22,600 units with an estimated value of $2.44 billion (average unit sale price of $108,000).
• New railcar deliveries totaled 3,900 units for the quarter.
• Produced 100,000th intermodal double stack railcar at Gunderson facility in Portland, Oregon.
• Marine backlog as of February 28, 2017 was approximately $86 million.
• Board declared a 5% increase in the quarterly dividend to $0.22 per share, payable on May 9, 2017 to shareholders of record as of April 18, 2017.

Business Outlook

For fiscal 2017, based on current business trends, production schedules, and excluding the expected benefits of Greenbrier-Astra Rail and our increased Brazil ownership stake, Greenbrier believes:

• Deliveries will be approximately 14,000 – 16,000 units
• Revenue will be $2.0 – $2.4 billion
• Diluted EPS will be in the range of $3.25 to $3.75, excluding $0.17 per share of new convertible note interest expense

For earnings history and earnings-related data on Greenbrier Cos. (GBX) click here.