Q2 2024 Greenbrier Companies Inc Earnings Call Transcript
Key Points
- Greenbrier Companies Inc (GBX) delivered strong performance with operating efficiencies continuing to improve.
- Generated over $860 million in revenue and earnings per share of $1.3 with a consolidated gross margin of 14%.
- Received a balanced mix of orders across geographies, with market conditions for railcar leasing remaining positive.
- Balance sheet remains healthy, allowing investment in the business while returning capital to shareholders through dividends.
- Successfully launched innovative products like the ultra high strength gondola and a new 89 foot slab chilled flat car.
- Lower Wilson volumes in maintenance services due to a milder winter, impacting performance.
- The European economy is still lagging behind the US, with growth projections trimmed by the European Central Bank.
- Border crossing issues impacted deliveries from suppliers or to customers during the quarter.
- Maintenance services performance was impacted by lower volumes, resulting from an unusually mild winter.
- The second quarter gross margins of 10.8% declined slightly from the first quarter.
Hello, and welcome to the Greenbrier Company's second quarter of fiscal 2024 earnings conference call. (Operator Instructions) At the request of The Greenbrier Companies, this conference call is being recorded for instant replay purposes. At this time, I would like to turn the conference over to Mr. Justin Roberts, Vice President and Treasurer. Mr. Roberts, you may begin.
Thank you. Gary. Good morning, everyone, and welcome to our second quarter of fiscal '24 conference call. Today I'm joined by Lorie Tekorius; Greenbrier's CEO and President; Brian Comstock, Executive Vice President and President of the Americas; and Adrian Downes, Senior Vice President and CFO. Following our update on Greenbrier's Q2 performance and an update on our outlook for the remainder of fiscal '24 we will open up the call for questions. In addition to the press release issued this morning, additional financial information and key metrics can be found in the slide presentation posted today on the IR
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