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.

• Operates a diversified manufacturing, maintenance, and leasing network, strategically located close to customers and aligned with onshoring trends.

• Maintains a lease fleet of approximately 20,600 railcars with high utilization and a net book value of $1.7 billion.

Financial performance and growth

• Achieved 16,700 railcar deliveries in the last twelve months and maintains a $2.0 billion backlog, providing strong revenue visibility.

• Recurring revenue has grown by 51% since fiscal 2023, driven by expansion of the lease fleet and management services.

• Core EBITDA reached $512 million LTM, with a track record of increasing profitability through cycles.

• Aggregate gross margin improved to 15.1% LTM, reflecting strategic execution and manufacturing optimization.

Strategic priorities and capital allocation

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

• Targets up to $300 million annual net investment in the lease fleet to drive through-cycle earnings and equity growth.

• Maintains robust liquidity of ~$890 million and has returned $635 million to shareholders since 2013 through dividends and share repurchases.