Greenbrier Companies, Inc. (the) · NYSE:GBX
Greenbrier Companies, Inc. (the) — The Greenbrier Companies — Q2 2025 Earnings Presentation
18 slides from Greenbrier Companies, Inc. (the)'s earnings presentation, Apr 7, 2025
Slide 1: 2Q25 Earnings Slides & Supplemental Information
NYSE: GBX 2Q25 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: Q2 FY 2025 Highlights
Q2 FY 2025 Highlights • Building on the successful North American capacity rationalization initiative begun in 2023, Greenbrier conducted a rigorous analysis of its Europe operations. Following an in-depth review, Greenbrier will close one manufacturing facility in our European joint venture. Facili
Slide 4: The Greenbrier Companies is a Leading Railcar Manufacturer and Lessor
The Greenbrier Companies is a Leading Railcar Manufacturer and Lessor LTM railcar Railcars in lease 23,900 deliveries ~16,600 fleet Revenue visibility Strong financially Recurring revenue(1) available $2.6bn backlog ~$752mn liquidity 39% growth Note: Figures as of February 28, 2025 (1) Measured on a
Slide 5: Delivering Value to Our Customers Throughout Railcar Life Cycle
Delivering Value to Our Customers Throughout Railcar Life Cycle Produce virtually all Greenbrier has a fleet of types of railcars for the ~16,600 (1) railcars in North American, North America, covering Railcar Railcar European and Brazilian numerous car types Manufacturing Leasing markets. which ser
Slide 6: Income Statement Highlights
Income Statement Highlights Revenue ($ millions) Core EBITDA ($ millions)(1) Core Diluted EPS(1) $1,053.0 $158.9 $1.92 $1.72 $1.69 $862.7 $875.9 $145.1 $820.2 $762.1 $123.9 $1.03 $1.06 $104.0 $95.0 2Q24 3Q24 4Q24 1Q25 2Q25 2Q24 3Q24 4Q24 1Q25 2Q25 2Q24 3Q24 4Q24 1Q25 2Q25 Solid Core EBITDA and Core
Slide 7: Key Operational Metrics
Key Operational Metrics Backlog(1) Deliveries(1) Syndicated Deliveries 1,700 1,600 29,200 29,400 7,000 26,700 1,400 6,000 23,400 5,600 5,500 5,400 20,400 800 800 2Q24 3Q24 4Q24 1Q25 2Q25 2Q24 3Q24 4Q24 1Q25 2Q25 2Q24 3Q24 4Q24 1Q25 2Q25 Orders in the quarter of 3,100 units valued at nearly $400 mill
Slide 8: Railcar Backlog Continues to Provide Excellent Near-term Revenue Visibility
Railcar Backlog Continues to Provide Excellent Near-term Revenue Visibility Greenbrier New Railcar Backlog(1) $4.0 $160 $3.5 $3.8 $160 $3.0 $3.5 $3.4 $160 $3.0 $2.5 $2.8 $159 $2.6 $2.0 $159 $1.5 $159 $1.0 $159 $0.5 $159 $0.0 $158 2021 2022 2023 2024 1Q25 2Q25 Backlog Value ($ billions) Units in Back
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 $627 $3,545 $559 $3,511 $2,978 $441 $306 $1,748 $232 2021 2022 2023 2024 LTM 2Q25 2021 2022 2023 2024 LTM 2Q25 Consolidated Revenue 10-year Average Aggregate Gross Margin
Slide 10: Updated Fiscal 2025 Outlook and Guidance
Updated Fiscal 2025 Outlook and Guidance Based on Current Trends and Production Schedules Q2 FY25 Results FY25 Guidance Revenues Revenues • Reflects our leading position, strong lease origination capabilities and direct sales experience $762 million $3.15 - $3.35 billion Deliveries Deliveries (inclu
Slide 11: Solid Foundation is in Place for the Continued Growth of Greenbrier's Lease Fleet
Solid Foundation is in Place for the Continued Growth of Greenbrier’s Lease Fleet As of February 28, 2025 Lease Types 16,600 4.2 Yrs railcars avg. remaining term 4% 20% ~$1.5Bn (1) 149 net book value # of customers 76% 5.9 Yrs 98.3% avg. railcar age fleet utilization Full service Net lease Off-lease
Slide 12: Balance Sheet & Cash Flow Trends
Balance Sheet & Cash Flow Trends ($ in millions) Net Capex & Invest. in Operating Cash Flow Net Funded Debt(2) Unconsolidated Affiliates(1) $1,555.2 $1,508.3 $1,489.2 $1,508.3 $1,420.7 $191.2 $95.8 $91.2 $497.2 $99.1 $66.1 $84.0 $93.6 $53.7 $1,011.1 $11.3 2Q24 3Q24 4Q24 1Q25 2Q25 ($65.1) 2Q24 3Q24 4
Slide 13: Recourse Debt is Expected to Decrease Over the Next Several Years
Recourse Debt is Expected to Decrease Over the Next Several Years Recourse vs. Non-Recourse Debt(1) ($ millions) Leasing Fleet Debt & Leverage(2) ($ millions) $987 $979 $1,011 1,20 0,000 80% 85% $945 $895 $876 67% $846 75% $835 $786 1,00 0,000 $761 65% $320 $317 $314 $324 800 ,000 55% $330 $327 45%
Slide 14: Appendix Slides
APPENDIX SLIDES
Slide 15: Quarterly Core EBITDA Reconciliation
Quarterly Core EBITDA Reconciliation Supplemental Disclosure Reconciliation of Net Earnings to Core EBITDA (In millions, unaudited) Feb. 29, May 31, Aug. 31, Nov. 30, Feb. 28, 2024 2024 2024 2024 2025 Net earnings $33.6 $40.6 $65.3 $59.1 $46.2 Interest and foreign 24.6 24.7 28.3 23.4 21.7 exchange I
Slide 16: Quarterly Core Diluted EPS Reconciliation
Quarterly 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) Feb. 29, May 31, Aug. 31, Nov. 30, Feb. 28, 2024 2024 2024 2024 2025 Net earn
Slide 17: 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 18: NYSE: GBX 2Q25 Earnings Slides & Supplemental Information
NYSE: GBX 2Q25 Earnings Slides & Supplemental Information InvestorRelations@gbrx.com www.gbrx.com
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