By Katherine Hamilton
Greenbrier's first-quarter profit and revenue rose but the company lowered its capital expenditures guidance for the full year.
The railroad equipment company said its profit rose to $55.3 million, or $1.72 a share, in the three months ended Nov. 30, from $31.2 million, or 96 cents a share, a year earlier.
Revenue rose 8% to $875.9 million. Analysts surveyed by FactSet forecast revenue of $850 million.
Greenbrier reiterated its operating metric guidance for 2025, but lowered some capital expenditure expectations for the year ahead. It still expects 2025 revenue of $3.35 billion to $3.65 billion. It adjusted projected gross capital expenditures to $480 million, down from $515 million, and net capital expenditures to $420 million, down from $425 million.
"While we observe demand easing slightly for certain railcar types and in some markets, we are affirming our full-year guidance and expect demand to increase as 2025 progresses," said Chief Executive Lori Tekorius.
Greenbrier grew its lease fleet by 1,200 units to 16,700 total during the first quarter.
The board renewed and extended a $100 million share repurchase authorization through Jan. 31, 2027.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
January 08, 2025 17:04 ET (22:04 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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