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Get filing alertsGreenbrier reports Q3 earnings of $0.60/share, lowers FY26 margin guidance
Filed July 1, 2026 · Period ending July 1, 2026 · ~1 min read
Key Changes
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Greenbrier lowered FY26 aggregate gross margin guidance to 13.8%-14.2% from 14.8%-15.2%, operating margin to 6.5%-6.8% from 7.0%-7.8%, and EPS to $3.00-$3.15 from $3.00-$3.50. Revenue guidance of $2.4B-$2.5B unchanged.
Exhibit 99.1 view on EDGAR → -
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Q3 net earnings were $19 million ($0.60/share) with aggregate gross margin of 14.1%, up 230 basis points sequentially. EBITDA was $69 million (12% of revenue).
Exhibit 99.1 view on EDGAR → -
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Entered $425 million non-recourse term loan with improved pricing to support lease fleet growth. Owned lease fleet grew 23% sequentially to 20,600 units at 99% utilization.
Exhibit 99.1 view on EDGAR → -
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Received 2,200 new railcar orders valued at $340 million and delivered 3,600 units in Q3. Backlog stands at 13,800 units valued at $2.0 billion as of May 31, 2026.
Exhibit 99.1 view on EDGAR → -
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Board approved quarterly dividend of $0.34/share payable August 6, 2026, the company's 49th consecutive quarterly dividend.
Exhibit 99.1 view on EDGAR →
Summary
Greenbrier reported third-quarter fiscal 2026 results showing net earnings of $19 million ($0.60 per diluted share) with aggregate gross margin improving 230 basis points sequentially to 14.1%. The company secured a new $425 million non-recourse term loan with improved pricing to fund continued lease fleet expansion, which grew 23% sequentially to 20,600 units at 99% utilization.
However, management lowered full-year fiscal 2026 guidance, reducing aggregate gross margin expectations to 13.8%-14.2% from 14.8%-15.2% and operating margin to 6.5%-6.8% from 7.0%-7.8%, while narrowing EPS guidance to $3.00-$3.15 from $3.00-$3.50. The guidance reduction suggests management sees headwinds in manufacturing margins despite the sequential improvement in Q3.
The company received 2,200 new railcar orders valued at $340 million during the quarter and delivered 3,600 units, leaving a backlog of 13,800 units valued at $2.0 billion. The Board maintained the quarterly dividend at $0.34 per share, marking the 49th consecutive quarterly payment. Investors should monitor whether the improved lease fleet economics and sequential margin gains can offset the manufacturing margin pressures reflected in the lowered guidance.
Section-by-Section Diff
Event · Exhibit 99.1
Added in current filing · view on EDGAR → · paraphrased
Aggregate Gross Margin % 14.8% - 15.2% Updated FY26 Guidance 13.8% - 14.2% Operating Margin % (2) 7.0% - 7.8% 6.5% - 6.8% EPS $3.00 - $3.50 $3.00 - $3.15
Greenbrier lowered its fiscal 2026 guidance for aggregate gross margin from 14.8%-15.2% to 13.8%-14.2%, operating margin from 7.0%-7.8% to 6.5%-6.8%, and EPS from $3.00-$3.50 to $3.00-$3.15. Delivery guidance was narrowed to 15,650-15,850 units from 15,350-16,350 units. Revenue guidance of $2.4B-$2.5B and net capital expenditures of $205M remained unchanged.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 3, 2026 · How we verify