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Why Rail Transport Company Greenbrier's Shares Are Trading Higher Today

The Greenbrier Companies, Inc. (NYSE:GBX) reported the second quarter of FY24 results.  Revenue declined to $862.7 million from $1.122 billion a year ago but was above the consensus of $843.3 million.  The company’s lease fleet utilization was 99%, and fleet size increased by 500 to 14,600 units. GBX has secured orders for 5,900 new railcars worth $690 million and delivered 5,600 units in the quarter.  As of February 29, 2023, the new railcar backlog stood at 29,200 units with an estimated value of $3.6 billion. EBITDA came in at $95.0 million, with a margin of 11%. EPS of $1.03