Greenbrier Companies, Inc. (the) · NYSE:GBX
Greenbrier Companies, Inc. (the) — The Greenbrier Companies — Q3 2026 Earnings Presentation
17 slides from Greenbrier Companies, Inc. (the)'s earnings presentation, Jul 1, 2026
Slide 1: 3Q26 Earnings Slides & Supplemental Information
3Q26 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, within the meaning of the Private Securities Litigation Reform Act of 1995. The Greenbrier Companies, Inc. (the “Company,” “we,” “us” or “our”) uses words, and variations of words,
Slide 3: Q3 Fiscal 2026 Results
Q3 Fiscal 2026 Results • Aggregate gross margin of 14.1%, up 230 basis points sequentially. • Owned lease fleet grew to 20,600, up 23% sequentially. • Lease fleet utilization remained exceptionally strong at 99%. • Entered into a new, $425 million non-recourse term loan, with improved pricing and te
Slide 4: Investment Highlights
Investment Highlights Leading railcar manufacturer and lessor with #1 or #2 position in end markets 16,700 ~20,600 LTM railcar deliveries Railcars in lease fleet Long track record of growth and increasing through-cycle profitability Good visibility with $2.0 billion backlog and $2.0B 51% growing str
Slide 5: Delivering Value to Our Customers Throughout Railcar Life Cycle
Delivering Value to Our Customers Throughout Railcar Life Cycle Railcar Manufacturing Railcar Leasing Produce virtually all types of Greenbrier has a fleet of ~20,600 (1) railcars for the North American, railcars in North America, covering European and Brazilian markets. numerous car types which ser
Slide 6: Income Statement Metrics
Income Statement Metrics Revenue ($ millions) Core EBITDA ($ millions)(1) Core Diluted EPS(1) $842.7 $759.5 $706.1 $587.5 $576.5 $128.5 $1.86 $114.8 $97.6 $1.26 $1.14 $69.1 $60.8 $0.60 $0.47 3Q25 4Q25 1Q26 2Q26 3Q26 3Q25 4Q25 1Q26 2Q26 3Q26 3Q25 4Q25 1Q26 2Q26 3Q26 Solid Core EBITDA and Core Diluted
Slide 7: Key Operational Metrics
Key Operational Metrics Backlog(1) Railcar Deliveries(1) 18,900 5,600 16,600 16,300 4,900 15,200 1,700 4,400 13,800 1,200 3,800 1,000 3,600 800 1,000 3,900 3,700 3,400 3,000 2,600 3Q25 4Q25 1Q26 2Q26 3Q26 3Q25 4Q25 1Q26 2Q26 3Q26 Deliveries Syndicated Deliveries Secured diverse new railcar orders of
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 $160 $3.0 $3.4 $160 $2.5 $159 $2.2 $2.2 $2.0 $159 $2.1 $2.0 $1.5 $159 $1.0 $159 $0.5 $159 $0.0 $158 2024 2025 1Q26 2Q26 3Q26 Backlog Value ($ billions) Units in Backlog 26,
Slide 9: 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 (1) As of May 31, 2026 Staggered Lease Expirations Provide Strong Visibility ~20,600 2.7 Yrs 5,000 4,400 Railcars in lease fleet Avg. remaining term 3,900 3,700 1,600 700 700 600 ~$1.7B 169 2026 2027 2028 2029 2030 203
Slide 10: Balance Sheet & Cash Flow Trends
Balance Sheet & Cash Flow Trends ($ in millions) Operating Cash Flow (LTM) (1) Net Funded Debt(2) $1,480 $1,458 $1,551 $472 $1,417 $1,258 $407 $465 $478 $472 $439 $359 $204 $266 $1,003 $987 $978 $1,054 $1,086 $106 3Q25 4Q25 1Q26 2Q26 3Q26 3Q25 4Q25 1Q26 2Q26 3Q26 Lease Fleet & Other Non-Recourse All
Slide 11: Committed to Returning Value Through Dividends & Share Repurchases
Committed to Returning Value Through Dividends & Share Repurchases Aggregate Dividends & Share Repurchases $385 million in dividends paid since 2014 Dividend has grown by 127% since 2014 $635M Committed to regularly growing the dividend Over $250 million in share repurchase since 2014 $65 million re
Slide 12: Updated Fiscal 2026 Guidance
Updated Fiscal 2026 Guidance Previous FY26 Updated FY26 Guidance Guidance Revenues $2.4 - $2.5 billion $2.4 - $2.5 billion Deliveries 15,350 – 16,350 units 15,650 – 15,850 units Aggregate Gross Margin 14.8% - 15.2% 13.8% - 14.2% Operating Margin 7.0% - 7.8% 6.5% - 6.8% Diluted EPS $3.00 - $3.50 $3.0
Slide 13: Appendix Slides
APPENDIX SLIDES
Slide 14: Quarterly Core EBITDA Reconciliation
Quarterly Core EBITDA Reconciliation Supplemental Disclosure Reconciliation of Net Earnings to Core EBITDA (In millions, unaudited) Three Months Ended May 31, Aug. 31, Nov. 30, Feb. 28, May 31, 2025 2025 2025 2026 2026 Net earnings $67.5 $40.3 $37.3 $13.9 $17.5 Interest and foreign 13.2 17.4 15.5 13
Slide 15: 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) Three Months Ended May 31, Aug. 31, Nov. 30, Feb. 28, May 31, 2025 2025 2025
Slide 16: 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 17: 3Q26 Earnings Slides & Supplemental Information
3Q26 Earnings Slides & Supplemental Information InvestorRelations@gbrx.com www.gbrx.com
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