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Risk Profile Improvements

  • Cbp Antidumping/Countervailing Duty Evasion Determination (new) — U.S. Customs determined the company evaded duties on freight rail couplers since April 2024; potential retroactive liability not estimable, not recorded, and under administrative appeal.
  • Tariff-Driven Demand Contraction (new) — Section 232 tariffs on tank cars (imposed April 2026) and broad trade-policy uncertainty have already adversely affected industry-wide railcar demand and the company's results; competitors may be better positioned to mitigate costs.
NYSE: GBX GREENBRIER COMPANIES INC 10-Q

Greenbrier Q3 revenue falls 31.6% on 38.5% fewer deliveries; margin compresses 390bp

Filed June 30, 2026 · Period ending May 31, 2026 · Compared to 10-Q Jul 1, 2025 · ~2 min read

Key Changes

  • high

    Q3 FY26 revenue fell 31.6% to $575.8M on 38.5% fewer deliveries (3,200 vs 5,200 units) and unfavorable product mix. Manufacturing margin compressed 530bp to 9.9% from volume deleverage. Net earnings dropped 68.6% to $18.9M.

    MD&A: Q3 FY26 results verify on EDGAR →
  • high

    CBP determined in May 2026 that Greenbrier evaded antidumping/countervailing duties on freight rail couplers attached to railcars since April 2024. Company filed administrative appeal; potential retroactive liability not estimable and not recorded.

    Legal Proceedings & Risk Factors verify on EDGAR →
  • high

    Backlog contracted 27% to 13,800 units / $2.0B (from 18,900 / $2.5B prior year). Delivery horizon extended to 2028+. Syndication-intended backlog nearly doubled to $720M, reflecting weaker end-customer demand.

    MD&A: Backlog verify on EDGAR →

2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

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View original filing on SEC.gov View full financials on EDGAR ↗

Generated by AI · Jul 2, 2026 5:21 PM