LONDON, UK / ACCESSWIRE / January 17, 2018 / Active-Investors.com has just released a free earnings report on The Greenbrier Cos., Inc. (NYSE: GBX). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=GBX. The Company posted its financial results on January 05, 2018, for the first quarter of the fiscal year 2018. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
For the three months ended November 30, 2017, The Greenbrier's total revenues increased 1.3% to $559.54 million from $552.31 million in Q1 FY17, driven by new railcar deliveries and higher volumes in Wheels & Parts and Leasing & Services business units. The Company's total revenue numbers were below analysts' expectations of $587.8 million.
As on November 30, 2017, the Company's backlog was 26,500 units with an estimated value of $2.56 billion.
For the reported quarter, the Company's gross profit decreased 20.8% to $89.31 million from $112.75 million in Q1 FY17. For the reported quarter, the Company's gross margin decreased 440 basis points to 16% of revenue from 20.4% of revenue in Q1 FY17.
For the reported quarter, the Company's operating income decreased 15.4% to $61.44 million from $72.66 million in Q1 FY17. For the reported quarter, the Company's operating margin decreased 220 basis points to 11% of revenue from 13.2% of revenue in Q1 FY17.
During Q1 FY18, The Greenbrier's earnings before tax (EBT) decreased 23.3% to $54.42 million from $70.94 million in the same period of last year. For the reported quarter, the Company's EBT margin decreased 310 basis points to 9.7% of revenue from 12.8% of revenue in Q1 FY17.
For the reported quarter, The Greenbrier's net income increased 5.2% to $26.25 million on a y-o-y basis from $24.96 million in Q1 FY17. During Q1 FY18, the Company's diluted earnings per share (EPS) increased 5.1% to $0.83 on a y-o-y basis from $0.79 in the comparable period of last year. For the reported quarter, the Company's adjusted diluted EPS was $0.83, and was below analysts' expectations of $0.88.
Segment Details
Manufacturing - During Q1 FY18, the Company's Manufacturing segment's revenue decreased 0.6% to $451.49 million from $454.03 million in the corresponding period of last year. For the reported quarter, the segment's gross profit decreased 27.5% to $70.64 million from $97.48 million in Q1 FY17. For the reported quarter, the segment's operating margin decreased 670 basis points to 11.7% of revenue from 18.4% of revenue in Q1 FY17.
Wheels & Parts - During Q1 FY18, the Company's Wheels & Parts segment's revenue increased 12% to $78.01 million from $69.64 million in the same period of last year. For the reported quarter, the segment's gross profit increased 18.2% to $5.51 million from $4.66 million in Q1 FY17. For the reported quarter, the segment's operating margin decreased 110 basis points to 3.1% of revenue from 4.2% of revenue in Q1 FY17.
Leasing & Services - During Q1 FY18, the Company's Leasing & Services segment's revenue increased 4.9% to $30.04 million from $28.65 million in the comparable period of last year. For the reported quarter, the segment's gross profit increased 24% to $13.17 million from $10.62 million in Q1 FY17. For the reported quarter, the segment's operating margin increased 6,800 basis points to 93.8% of revenue from 25.8% of revenue in Q1 FY17.
Balance Sheet
As on November 30, 2017, The Greenbrier's cash and cash equivalents decreased 3.3% to $591.41 million from $611.47 million as on August 31, 2017.
For the reported quarter, the Company's net receivables increased 12.7% to $315.39 million from $279.96 million in Q4 FY17. For the reported quarter, The Greenbrier's accounts payable and accrued liabilities increased 6.3% to $441.37 million from $415.06 million in Q4 FY17.
During Q1 FY18, the Company's net cash provided by operating activities was negative $39.65 million compared to positive $31.83 million in the corresponding period of last year.
On January 05, 2018, the Company's Board of Directors declared a quarterly dividend of $0.23 per share, payable on February 16, 2018, to shareholders of record as on January 26, 2018.
Outlook
For FY18, the Company expects revenue to be in the range of $2.4 billion - $2.6 billion, and diluted EPS to be $4.
Stock Performance Snapshot
January 16, 2018 - At Tuesday's closing bell, The Greenbrier's stock was slightly down 0.29%, ending the trading session at $51.30.
Volume traded for the day: 401.44 thousand shares, which was above the 3-month average volume of 364.25 thousand shares.
Stock performance in the last month – up 0.29%; previous three-month period – up 1.58%; past six-month period – up 17.12%; and previous twelve-month period – up 4.59%
After yesterday's close, The Greenbrier's market cap was at $1.53 billion.
Price to Earnings (P/E) ratio was at 14.04.
The stock has a dividend yield 1.79%.
The stock is part of the Services sector, categorized under the Railroads industry.
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