Benzinga | Aug 26, 2021 06:01AM EDT

Greenbrier Announces Orders for 5,500 Railcars Valued Over $530M

The Greenbrier Companies, Inc. (NYSE:GBX) ("Greenbrier"), a leading international supplier of equipment and services to global freight transportation markets, today announced new orders totaling 5,500 units valued at more than $530 million received thus far during its fourth fiscal quarter that began on June 1, 2021. This increases Greenbrier's backlog and provides further visibility entering fiscal 2022. Orders announced today are from a diverse mix of customers and comprise a broad range of railcar types, including intermodal, boxcars, tanks, covered hoppers and gondolas.

William A. Furman, Chairman and CEO said, "Greenbrier continues to see momentum in our markets as we navigate the economic recovery and COVID variants. Our commercial and leasing teams have performed exceptionally in this environment. Greenbrier's proven ability to adjust production capacity in response to growing demand positions us to actively secure new orders, strengthening our backlog. We expect this order trend to continue into fiscal 2022."

Certain orders referenced in this release are subject to customary documentation and completion of terms.