Greenbrier Cos. (NYSE: GBX) reported Q1 EPS of $0.54, versus $0.83 reported last year. Revenue for the quarter came in at $604.5 million versus the consensus estimate of $561.32 million.

• Net earnings attributable to Greenbrier for the quarter were $18.0 million, or $0.54 per diluted share, on revenue of $604.5 million.
• Adjusted EBITDA for the quarter was $57.6 million, or 9.5% of revenue.
• New railcar deliveries totaled 4,500 units for the quarter.
• Diversified orders for 5,400 railcars were received during the quarter, valued at $560 million. Book-to-bill of 1.2x for the quarter, marking the third consecutive quarter with a book-to-bill over 1.0x.
• New railcar backlog was 27,500 units with an estimated value of $2.7 billion.
• Board declares a quarterly dividend of $0.25 per share, payable on February 20, 2019 to shareholders of record as of January 30, 2019.
• Board extends share repurchase program two years until March 2021 and increases authorization to $100 million.

William A. Furman, Chairman and CEO, said, "Greenbrier's performance in the first quarter of fiscal 2019 exceeded expectations and demonstrates the ability of our people to execute the Company's business plan. Order activity was strong in the first quarter and comprised of a broad range of railcar types including double-stack intermodal units, tank cars and heavy-duty flat cars. Importantly, 20% of all new railcar orders were received from markets outside North America. We are confident in achieving our guidance for the year with approximately 90% of Greenbrier's fiscal 2019 production plan now booked with firm orders."

Furman concluded, "Greenbrier continues to see opportunities internationally, and expects international growth to continue from Europe and Brazil as the year progresses, with activity in the nations of the Gulf Cooperation Council and Eurasia growing over time. A thoughtful approach to capital deployment emphasizes growth at scale designed to both reinforce the Company's position in core North American markets and expand in international railcar markets. Developing a pipeline of talent to strengthen Greenbrier's workforce is another key strategic objective in fiscal 2019. Greenbrier will continue to invest in its business and people, a strategic approach that serves the Company, our shareholders and our employees well."

GUIDANCE:

Greenbrier Cos. sees FY2019 EPS of $4.20-$4.40, versus the consensus of $4.30. Greenbrier Cos. sees FY2019 revenue of $3 billion, versus the consensus of $2.97 billion.

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