The sharp earnings miss and lowered full-year results reflect a prolonged low-volume environment in railcar manufacturing. FY2027 guidance implies a recovery but remains well below FY2025 levels. Watch for order trends and production ramp commentary on the conference call for signs of demand inflection.
Price Chart
Executive Summary
Greenbrier reported Q4 FY2026 GAAP diluted EPS of $0.27, well below the consensus estimate of $0.80, and revenue of $591.0M, also below the $605.1M consensus. Full-year FY2026 revenue fell 24% YoY to $2.46B and GAAP EPS dropped 61% to $2.49, driven by lower manufacturing volumes and facility rationalization costs. The company guided FY2027 revenue to $2.8B-$3.2B and EPS to $2.75-$3.75, implying a recovery but still below prior-year levels.
Key Financial Metrics
Key Facts
- Q4 FY2026 GAAP diluted EPS of $0.27 versus consensus $0.80 (miss of -66.3%)
- Q4 revenue of $591.0M versus consensus $605.1M (miss of -2.3%)
- Full-year FY2026 revenue $2.46B, down 24% from $3.24B in FY2025
- Full-year FY2026 GAAP diluted EPS $2.49, down 61% from $6.35 in FY2025
- Q4 included $4M ($0.12/share) of facility rationalization costs; core diluted EPS was $0.39
- FY2027 guidance: revenue $2.8B-$3.2B, EPS $2.75-$3.75, operating margin 7.0%-7.5%
- Backlog of 14,000 units valued at $2.1B as of August 31, 2026, up from 13,800 units sequentially
- Owned lease fleet grew 23% in FY2026 to 20,900 units with 98% utilization
- Operating cash flow fell to $39.6M in FY2026 from $265.7M in FY2025
Financial Impact
Q4 GAAP EPS of $0.27 missed consensus by $0.53 (-66.3%); full-year revenue declined 24% and EPS declined 61% YoY
Segment Breakdown
| Segment | Revenue |
|---|---|
| Manufacturing | $538.9M |
| Leasing & Fleet Management | $52.1M |
Risk Factors
- Tariff uncertainty and delayed railcar investment decisions in North America
- Continued low manufacturing volumes and margin compression
- Operating cash flow declined sharply to $39.6M in FY2026 from $265.7M in FY2025
- Facility rationalization costs may indicate ongoing restructuring
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-431928 |
| Document: gbx-20261026.htm | 0001193125-26-431928 |
| Document: 0001193125-26-431928-index-headers.html | 0001193125-26-431928 |
| Document: 0001193125-26-431928-index.html | 0001193125-26-431928 |
| Document: 0001193125-26-431928.txt | 0001193125-26-431928 |
| 8-K Data (Synthetic) | 0001193125-26-431928 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | 8-K | $37.30 | awaiting T+20 | — | $38.30 (−2.68%) |
Oct 26, 2026 1d ago | 8-K | $38.30 | awaiting T+20 | — | $38.30 (−0.00%) |
Oct 26, 2026 1d ago | Press Release | $38.30 | awaiting T+20 | — | $38.30 (−0.00%) |
Sep 22, 2026 5w ago | 8-K | $43.04 $37.61 | ▼ −12.62% | ▼ −12.06% | $38.30 (−11.01%) |
Sep 22, 2026 5w ago | Press Release | $43.04 $37.61 | ▲ +12.62% | ▲ +12.06% | $38.30 (+11.01%) |
Aug 31, 2026 8w ago | 8-K | $42.00 $40.07 | ▼ −4.60% | ▼ −4.91% | $38.30 (−8.81%) |
Apr 7, 2026 29w ago | 8-K | $48.70 $50.16 | ▼ −3.00% | ▲ +5.54% | $38.30 (+21.35%) |
US Market Status
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