The Lake Oswego, Ore.-based freight railcar supplier, Greenbrier, has announced a rise in profit for its fourth quarter compared to the previous year. This growth can be attributed to an increase in revenue from manufacturing activities and maintenance services.
Strong Financial Results
Greenbrier reported a net income of $24.8 million for the fourth quarter, up from $20.2 million in the same period last year. Earnings per share also saw a significant increase, rising from 60 cents to 77 cents. Adjusted earnings per share reached an impressive 92 cents.
Revenue Growth
The company experienced a notable growth in revenue, reaching $1.02 billion in the fourth quarter, compared to $950.7 million in the previous fiscal year. The manufacturing sector saw a substantial increase, with revenue climbing to $872.4 million from $817.5 million. Likewise, revenue from maintenance services grew to $100 million from $87.2 million. However, revenue from leasing and management services declined slightly to $45 million from $46 million.
Exceeding Expectations
Greenbrier’s revenue results surpassed market expectations, although its profit figure fell short. According to FactSet’s consensus, analysts had predicted revenue of $990 million and net income of $33 million.
In conclusion, Greenbrier’s impressive financial performance in the fourth quarter reflects the company’s success in manufacturing and maintenance services, despite a slight dip in leasing and management revenues.
