The Greenbrier Companies (GBX) Investor presentation summary

Market leadership and operational footprint

• Holds a leading position in railcar manufacturing and leasing across North America, Europe, and Brazil, with #1 or #2 market share in key segments.

• Delivered 18,700 railcars in the last twelve months and manages a lease fleet of approximately 16,800 units.

• Maintains a $2.1 billion backlog, providing strong revenue visibility and recurring income streams.

• Operates a diversified manufacturing and service network close to customers, supporting onshoring trends.

• Offers comprehensive railcar lifecycle services, including manufacturing, leasing, maintenance, and management.

Financial performance and growth

• Achieved a 52% increase in recurring revenue since 2023, driven by lease fleet expansion.

• Core EBITDA reached $512 million LTM as of February 2026, with higher highs and lows through cycles.

• Aggregate gross margin improved to 16.2%, reflecting operational efficiencies and a focus on high-margin recurring revenue.

• Returned $625 million to shareholders since 2013 through dividends and share repurchases.

• Maintains nearly $1.1 billion in liquidity, with strong operating cash flow and disciplined capital allocation.

Strategic priorities and outlook

• Focuses on optimizing for demand recovery, manufacturing excellence, recurring revenue growth, and balanced capital allocation.

• Fiscal 2026 guidance projects $2.4–$2.5 billion in revenue, 15,350–16,350 deliveries, and core diluted EPS of $3.00–$3.50.

• Plans to invest up to $300 million annually in the lease fleet, targeting mid-double-digit returns.

• Well-positioned for growth as railcar ownership shifts from railroads to leasing companies and as global infrastructure investment rises.

• European and Brazilian markets expected to benefit from economic recovery and infrastructure spending.