Greenbrier Companies, Inc. (the) · NYSE:GBX
Greenbrier Companies, Inc. (the) — The Greenbrier Companies — Q4 2025 Earnings Presentation
20 slides from Greenbrier Companies, Inc. (the)'s earnings presentation, Oct 28, 2025
Slide 1: 4Q25 Earnings Slides & Supplemental Information
NYSE: GBX 4Q25 Earnings Slides & Supplemental Information InvestorRelations@gbrx.com www.gbrx.com
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation and the accompanying oral presentation contain forward-looking statements, including statements that are not purely statements of historical fact. The Greenbrier Companies, Inc. (the “Company,” “we,” “us” or “our”) uses words, and variations of words, suc
Slide 3: Q4 and Full Year FY 2025 Results
Q4 and Full Year FY 2025 Results • Net earnings attributable to Greenbrier for Q4 of $37 million, or $1.16 per diluted share. Results include $3 million ($0.10 per share), net of tax and non-controlling interest, of expense related to our European facility-related rationalization. • Core net earning
Slide 4: Investment Highlights
Investment Highlights Leading railcar manufacturer and lessor with #1 or #2 position in end markets 22,000 ~17,000 LTM railcar deliveries Railcars in lease fleet Long track record of growth and increasing through-cycle profitability Good visibility with $2.2 billion backlog and $2.2bn 50% growing st
Slide 5: Delivering Value to Our Customers Throughout Railcar Life Cycle
Delivering Value to Our Customers Throughout Railcar Life Cycle Railcar Manufacturing Railcar Leasing Produce virtually all types of Greenbrier has a fleet of ~17,000 (1) railcars for the North American, railcars in North America, covering European and Brazilian markets. numerous car types which ser
Slide 6: Income Statement Metrics
Income Statement Metrics Revenue ($ millions) Core EBITDA ($ millions)(1) Core Diluted EPS(1) $1,053.0 $158.9 $1.92 $1.86 $1.72 $1.69 $875.9 $842.7 $145.1 $762.1 $759.5 $1.26 $128.5 $123.9 $114.8 4Q24 1Q25 2Q25 3Q25 4Q25 4Q24 1Q25 2Q25 3Q25 4Q25 4Q24 1Q25 2Q25 3Q25 4Q25 Solid Core EBITDA and Core Di
Slide 7: Key Operational Metrics
Key Operational Metrics Backlog(1) Deliveries(1) Syndicated Deliveries 26,700 1,700 7,000 1,600 23,400 6,000 20,400 5,600 18,900 5,500 1,200 4,900 16,600 800 800 4Q24 1Q25 2Q25 3Q25 4Q25 4Q24 1Q25 2Q25 3Q25 4Q25 4Q24 1Q25 2Q25 3Q25 4Q25 Secured diverse new railcar orders of 2,400 units valued at mor
Slide 8: New Railcar Backlog Provides Near-term Support for Through-cycle Profitability
New Railcar Backlog Provides Near-term Support for Through-cycle Profitability Greenbrier New Railcar Backlog(1) $4.0 $160 $3.5 $3.8 $160 $3.0 $3.5 $3.4 $160 $2.5 $2.8 $159 $2.2 $2.0 $159 $1.5 $159 $1.0 $159 $0.5 $159 $0.0 $158 2021 2022 2023 2024 2025 Backlog Value ($ billions) Units in Backlog 26,
Slide 9: Generating Strong Revenue and Higher Margin Dollars
Generating Strong Revenue and Higher Margin Dollars Consolidated Revenue ($ millions) Aggregate Gross Margin ($ millions) $3,944 $608 $3,545 $559 $3,240 $2,978 $441 $306 $1,748 $232 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 Consolidated Revenue 10-year Average Aggregate Gross Margin 10-year
Slide 10: Fiscal 2026 Outlook and Guidance Based on Current Trends and Production Schedules
Fiscal 2026 Outlook and Guidance Based on Current Trends and Production Schedules FY26 Guidance Commentary • Reflects our leading position, strong lease origination capabilities and direct Revenues $2.7 - $3.2 billion sales experience Deliveries 17,500 - 20,500 units • Guidance includes ~1,500 units
Slide 11: Our Integrated Business Model Leads to Multiple Client Touchpoints and Revenue Opportunities
Our Integrated Business Model Leads to Multiple Client Touchpoints and Revenue Opportunities RAILCAR ORDERS DELIVERIES AFTERMARKET REPAIRS & MANUFACTURING CAPACITY MAINTENANCE DIRECT DIRECT BUYERS BUYERS LONG TERM FLEET Long-lived asset creates cash flows LONG TERM while building equity FEES LESSEES
Slide 12: Strong Foundation Established to Support Ongoing Growth of Greenbrier's Lease Fleet
Strong Foundation Established to Support Ongoing Growth of Greenbrier’s Lease Fleet As of August 31, 2025 Lease Types 17,000 4.0 Yrs railcars avg. remaining term 5% 20% ~$1.6Bn (1) 158 net book value # of customers 75% 6.9 Yrs 98.2% avg. railcar age fleet utilization Full service Net lease Off-lease
Slide 13: Balance Sheet & Cash Flow Trends
Balance Sheet & Cash Flow Trends ($ in millions) Net Capex & Invest. in Operating Cash Flow Net Funded Debt(2) Unconsolidated Affiliates(1) $1,555.2 $1,508.3 $75.6 $1,480.3 $1,458.4 $1,420.7 $191.2 $66.1 $62.5 $471.7 $139.2 $53.7 $93.6 $98.0 $986.7 $11.3 4Q24 1Q25 2Q25 3Q25 4Q25 ($65.1) 4Q24 1Q25 2Q
Slide 14: Executing Multi-Year Strategy to Reduce Recourse Debt and Drive Long-Term Resilience
Executing Multi-Year Strategy to Reduce Recourse Debt and Drive Long-Term Resilience Recourse vs. Non-Recourse Debt(1) ($ millions) Leasing Fleet Debt & Leverage(2) ($ millions) 74% 1,20 0,000 85% 75% $987 $979 $1,011 $1,003 $987 1,00 0,000 65% $876 $308 $786 800 ,000 46% 55% $761 $774 $778 45% 600
Slide 15: Committed to Returning Value Through Dividends & Share Repurchases
Committed to Returning Value Through Dividends & Share Repurchases Over $352 million paid in Aggregate Dividends & Share Repurchases dividends since 2014 Dividend has grown by 113% since 2014 $590Mn Committed to regularly growing the dividend Over $237 million in share repurchase since 2014 $78 mill
Slide 16: Appendix Slides
APPENDIX SLIDES
Slide 17: Quarterly and Annual Core EBITDA Reconciliation
Quarterly and Annual Core EBITDA Reconciliation Supplemental Disclosure Reconciliation of Net Earnings to Core EBITDA (In millions, unaudited) Three Months Ended Year Ended Aug. 31, Nov. 30, Feb. 28, May 31, Aug. 31, Aug. 31, 2024 2024 2025 2025 2025 2025 Net earnings $65.3 $59.1 $46.2 $67.5 $40.3 $
Slide 18: Quarterly and Annual Core Diluted EPS Reconciliation
Quarterly and Annual Core Diluted EPS Reconciliation Supplemental Disclosure Reconciliation of Net Earnings Attributable to Greenbrier to Core Net Earnings Attributable to Greenbrier (In millions, except per share amounts, unaudited) Three Months Ended Year Ended Aug. 31, Nov. 30, Feb. 28, May 31, A
Slide 19: Non-GAAP Financial Measures
Non-GAAP Financial Measures Core EBITDA, Core net earnings attributable to Greenbrier, and Core diluted earnings per share (EPS) are not financial measures under generally accepted accounting principles (GAAP). These metrics are performance measurement tools used by rail supply companies and Greenbr
Slide 20: 4Q25 Earnings Slides & Supplemental Information
NYSE: GBX 4Q25 Earnings Slides & Supplemental Information InvestorRelations@gbrx.com www.gbrx.com
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