“Fiscal 2025 was a record year for Greenbrier, demonstrating the continued success of our strategy to deliver consistent, high-quality performance,” said President and CEO Lorie Tekorius, during a report on the freight transportation equipment and services supplier’s fourth fiscal-quarter ended Aug. 31, 2025.
Through its wholly owned subsidiaries and joint ventures, Greenbrier designs, builds and markets freight railcars in North America, Europe and Brazil. It also provides freight railcar wheel services, parts, maintenance and retrofitting services in North America; owns a lease fleet of approximately 14,600 railcars that originate primarily from Greenbrier’s manufacturing operations; and offers railcar management, regulatory compliance services, and leasing services to railroads and other railcar owners in North America.
“We achieved record earnings and EBITDA, while exceeding our long-term financial targets for aggregate gross margin and return on invested capital. These results reflect disciplined execution and operational excellence,” Tekorius continued.
Following are highlights of Greenbrier’s fourth fiscal quarter 2025:
- Net earnings attributable to Greenbrier for Q4 of $37 million, or $1.16 per diluted share. Results include $3 million ($0.10 per share), net of tax and non-controlling interest, of expense related to our European facility-related rationalization.
- Core net earnings attributable to Greenbrier of $40 million or $1.26 per diluted share in Q4.
- Continuing the European facility rationalization started in Q2, Greenbrier announced the closure of two additional facilities in Q4. Rationalization costs of approximately $6 million included $3 million of Gross margin impact and $3 million of Selling and administrative expense.
- Annualized savings of $20 million expected from European facility rationalization actions while maintaining consistent production capacity.
- Fiscal 2025 Net earnings attributable to Greenbrier of $204 million, or $6.35 per diluted share. Results include $8 million, or $0.24 per share, net of tax and non-controlling interest, of European facility-related rationalization.
- Fiscal 2025 Core net earnings attributable to Greenbrier of $212 million, or $6.59 per diluted share.
- Core EBITDA of $115 million, or 15% of revenue in Q4 and a record $512 million, or 16% for fiscal 2025.
- In fiscal 2025, lease fleet growth of nearly 10%, to 17,000 units, with robust utilization of 98%.
- In Q4, new railcar orders for 2,400 units valued at more than $300 million and deliveries of 4,900 units, resulting in a new railcar backlog of 16,600 units with an estimated value of $2.2 billion as of August 31, 2025.
- Repurchase of 10,000 shares for $470,000 in Q4 and 517,000 shares for $22 million in fiscal 2025. $78 million remaining under current share repurchase program.
- Board approves quarterly dividend of $0.32 per share, payable on December 3, 2025 to shareholders of record as of November 12, 2025, representing Greenbrier’s 46th consecutive quarterly dividend.
Greenbrier announced long-term financial targets in April 2023 at its first Investor Day. As of Aug. 31, 2025, the company says it has successfully surpassed two of its three financial targets, with the third on track, “reflecting sustained growth and strategic execution.” Detailed progress towards those targets is shown below.
2026 Outlook
Based on current trends and production schedules, Greenbrier is providing the following guidance for fiscal 2026:
“As we enter fiscal 2026, we are navigating the current North American and European freight rail markets with a resilient business model, growing lease fleet, and continued productivity gains. We will continue to focus on operational efficiencies and execution to deliver higher through-cycle profitability and long-term shareholder value across market conditions,” concluded Tekorius.
