Greenbrier Companies, Inc. (the) · NYSE:GBX
Greenbrier Companies, Inc. (the) — The Greenbrier Companies — Q1 2024 Earnings Presentation
17 slides from Greenbrier Companies, Inc. (the)'s earnings presentation, Jan 5, 2024
Slide 1: 1Q24 Earnings Slides & Supplemental Information
NYSE: GBX 1Q24 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: Q1 FY 2024 Highlights
Q1 FY 2024 Highlights • Grew lease fleet by 700 units to 14,100 units and maintained fleet utilization of 98%. • Received new railcar orders for 5,100 units valued at nearly $710 million and delivered 5,700 units, resulting in new railcar backlog of 29,700 units with an estimated value of $3.8 billi
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 26,900 deliveries ~14,100 fleet Revenue visibility Strong financially Recurring revenue(1) available $3.8bn backlog ~$663mn liquidity 15% growth Note: Figures as of November 30, 2023 (1) Measured agai
Slide 5: Delivering Value to Our Customers Throughout Railcar Life Cycle
Delivering Value to Our Customers Throughout Railcar Life Cycle Produce virtually all Greenbrier has a fleet of types of railcars for the ~14,100 (1) railcars in North American, North America, covering Railcar Railcar European and Brazilian numerous car types Manufacturing Leasing markets. which ser
Slide 6: Income Statement Highlights
Income Statement Highlights Revenue ($ millions) Adjusted EBITDA ($ millions)(1) Adjusted Diluted EPS(1) $1,122.0 $1.02 $1,038.1 $1,017.4 $0.99 $0.96 $97.9 $0.92 $96.9 $96.8 $93.2 $808.8 $766.5 $48.7 $0.05 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 2Q23 3Q23 4Q23 1Q24 Improved profitabil
Slide 7: Key Operational Metrics
Key Operational Metrics Backlog(1) Deliveries(1) Syndicated Deliveries 2,200 30,900 7,600 29,700 7,000 28,300 6,600 25,900 23,400 5,700 4,800 1,300 900 800 300 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 2Q23 3Q23 4Q23 1Q24 Orders for 5,100 railcars valued at nearly $710 million received
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 $5.0 $160 $4.7 $4.5 $160 $4.0 $160 $3.5 $3.8 $3.8 $3.3 $3.5 $159 $3.0 $3.2 $3.3 $2.5 $2.8 $2.7 $2.8 $159 $2.0 $2.4 $159 $1.5 $1.0 $1.5 $159 $159 $0.5 $0.0 $158 2013 2014 2015 2016 2017 2018 201
Slide 9: Generating Higher Revenue and Margin Dollars
Generating Higher Revenue and Margin Dollars Consolidated Revenue ($ millions) Consolidated Margin ($ millions) $3,944 $3,986 $493 $441 $2,978 $2,792 $353 $306 $1,748 $232 2020 2021 2022 2023 11/30/2023 2020 2021 2022 2023 11/30/2023 LTM LTM Consolidated Revenue 10-year Average Consolidated Margin 1
Slide 10: 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 November 30, 2023 Lease Types 14,100 4.1 Yrs railcars avg. remaining term 3% 23% ~$1.3Bn (1) 133 net book value # of customers 74% 7.3 Yrs 98.2% avg. railcar age fleet utilization Full service Net lease Offlease
Slide 11: Balance Sheet & Cash Flow Trends
Balance Sheet & Cash Flow Trends Net Capex & Invest. in Operating Cash Flow Net Funded Debt(2) Unconsolidated Affiliates(1) $1,471.0 $1,349.3 $1,277.6 $1,298.2 $1,345.3 $159.1 $105.2 $97.6 $592.9 $70.0 $69.6 $67.3 $62.2 ($44.7) $43.0 $878.1 1Q23 2Q23 3Q23 4Q23 1Q24 ($255.5) 1Q23 2Q23 3Q23 4Q23 1Q24
Slide 12: 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) Leasing Fleet Debt & Leverage(2) $1,000 80% $976 $941 1,00 0,000 85% $847 $878 $900 900 ,000 75% $780 800 ,000 65% 700 ,000 $330 $587 46% $333 55% 600 ,000 $336 $338 45% 500 ,000 $268 $307 35% $197 $1
Slide 13: Appendix Slides
APPENDIX SLIDES
Slide 14: Quarterly Adjusted EBITDA Reconciliation
Quarterly Adjusted EBITDA Reconciliation Supplemental Disclosure Reconciliation of Net Earnings (Loss) to Adjusted EBITDA (In millions, unaudited) Quarter Ending Nov. 30, Feb. 28, May. 31, Aug. 31, Nov. 30, 2022 2023 2023 2023 2023 Net earnings (loss) ($17.3) $36.8 $26.7 $29.4 $33.2 Interest and for
Slide 15: Quarterly Adjusted Diluted EPS Reconciliation
Quarterly Adjusted Diluted EPS Reconciliation Supplemental Disclosure Reconciliation of Net Earnings (Loss) Attributable to Greenbrier to Adjusted Net Earnings Attributable to Greenbrier (In millions, except per share amounts, unaudited) Quarter Ending Nov. 30, Feb. 28, May. 31, Aug. 31, Nov. 30, 20
Slide 16: Non-GAAP Financial Measures Adjusted Net Earnings Attributable to Greenbrier
Non-GAAP Financial Measures Adjusted Net Earnings Attributable to Greenbrier This presentation includes certain financial measures that were not prepared in accordance with generally accepted accounting principles (GAAP) because we believe they help investors understand our performance. Adjusted EBI
Slide 17: 1Q24 Earnings Slides & Supplemental Information
NYSE: GBX 1Q24 Earnings Slides & Supplemental Information InvestorRelations@gbrx.com www.gbrx.com
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