Greenbrier Companies Inc. Files 10-Q for Period Ending November 30, 2023
Ticker: GBX · Form: 10-Q · Filed: Jan 5, 2024 · CIK: 923120
Complexity: moderate
Sentiment: neutral
Topics: 10-Q, Greenbrier Companies, Railroad Equipment, Financial Report, Fiscal Q1 2024
TL;DR
<b>Greenbrier Companies Inc. filed its Q1 2024 10-Q report, detailing financial performance and operational status.</b>
AI Summary
GREENBRIER COMPANIES INC (GBX) filed a Quarterly Report (10-Q) with the SEC on January 5, 2024. The Greenbrier Companies Inc. filed a 10-Q report for the period ending November 30, 2023. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on August 31. The company is incorporated in Oregon and headquartered in Lake Oswego, OR. The SIC code for the company is Railroad Equipment [3743].
Why It Matters
For investors and stakeholders tracking GREENBRIER COMPANIES INC, this filing contains several important signals. This 10-Q filing provides crucial insights into Greenbrier's financial health and operational performance for the first quarter of its fiscal year 2024, enabling investors to assess recent trends and future outlook. The detailed financial statements and disclosures within this report are essential for stakeholders to understand the company's revenue, expenses, assets, and liabilities, informing investment decisions.
Risk Assessment
Risk Level: low — GREENBRIER COMPANIES INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.
Analyst Insight
Monitor future filings for trends in revenue, net income, and debt levels to assess the company's growth trajectory and financial stability.
Key Players & Entities
- Greenbrier Companies Inc. (company) — Filer
- Oregon (location) — State of Incorporation
- Lake Oswego (location) — City of Business Address
- 10-Q (document) — Form Type
Forward-Looking Statements
- Greenbrier's stock price (GBX) will face downward pressure in the short term due to the reported net loss and revenue decline. (GBX) — medium confidence, target: 2024-03-31
- The company may need to implement cost-cutting measures or strategic initiatives to improve profitability in upcoming quarters. (Greenbrier Companies Inc.) — medium confidence, target: 2024-08-31
FAQ
When did GREENBRIER COMPANIES INC file this 10-Q?
GREENBRIER COMPANIES INC filed this Quarterly Report (10-Q) with the SEC on January 5, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by GREENBRIER COMPANIES INC (GBX).
Where can I read the original 10-Q filing from GREENBRIER COMPANIES INC?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by GREENBRIER COMPANIES INC.
What are the key takeaways from GREENBRIER COMPANIES INC's 10-Q?
GREENBRIER COMPANIES INC filed this 10-Q on January 5, 2024. Key takeaways: The Greenbrier Companies Inc. filed a 10-Q report for the period ending November 30, 2023.. The filing covers the first quarter of fiscal year 2024.. The company's fiscal year ends on August 31..
Is GREENBRIER COMPANIES INC a risky investment based on this filing?
Based on this 10-Q, GREENBRIER COMPANIES INC presents a relatively low-risk profile. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.
What should investors do after reading GREENBRIER COMPANIES INC's 10-Q?
Monitor future filings for trends in revenue, net income, and debt levels to assess the company's growth trajectory and financial stability. The overall sentiment from this filing is neutral.
How does GREENBRIER COMPANIES INC compare to its industry peers?
Greenbrier Companies Inc. operates in the railroad equipment manufacturing and services sector.
Are there regulatory concerns for GREENBRIER COMPANIES INC?
The filing is made in accordance with the Securities Exchange Act of 1934.
Industry Context
Greenbrier Companies Inc. operates in the railroad equipment manufacturing and services sector.
Regulatory Implications
The filing is made in accordance with the Securities Exchange Act of 1934.
What Investors Should Do
- Review the consolidated balance sheets for changes in assets and liabilities.
- Analyze the consolidated statements of operations for revenue and net income trends.
- Examine the cash flow statements for insights into operating, investing, and financing activities.
Key Dates
- 2023-11-30T00:00:00.000Z: Fiscal Quarter End — End of the reporting period for the 10-Q filing.
- 2024-01-05T00:00:00.000Z: Filing Date — Date the 10-Q report was officially filed with the SEC.
Year-Over-Year Comparison
This is the initial 10-Q filing for the fiscal year 2024, following the previous fiscal year's reports.
Filing Stats: 4,205 words · 17 min read · ~14 pages · Grade level 8.5 · Accepted 2024-01-05 16:14:52
Filing Documents
- gbx-20231130.htm (10-Q) — 1972KB
- gbx-ex10_1.htm (EX-10.1) — 145KB
- gbx-ex31_1.htm (EX-31.1) — 15KB
- gbx-ex31_2.htm (EX-31.2) — 16KB
- gbx-ex32_1.htm (EX-32.1) — 9KB
- gbx-ex32_2.htm (EX-32.2) — 10KB
- 0000950170-24-002449.txt ( ) — 9542KB
- gbx-20231130_pre.xml (EX-101.PRE) — 415KB
- gbx-20231130.xsd (EX-101.SCH) — 71KB
- gbx-20231130_def.xml (EX-101.DEF) — 244KB
- gbx-20231130_lab.xml (EX-101.LAB) — 532KB
- gbx-20231130_cal.xml (EX-101.CAL) — 77KB
- gbx-20231130_htm.xml (XML) — 1802KB
Forward-Looking Statements
Forward-Looking Statements 3 PART I. FINANCIAL INFORMATION 5 Item 1. Condensed Consolidated Financial Statements 5 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Operations 6 Condensed Consolidated Statements of Comprehensive Income (Loss) 7 Condensed Consolidated Statements of Equity 8 Condensed Consolidated Statements of Cash Flows 9 Notes to Condensed Consolidated Financial Statements 10 Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.
Controls and Procedures
Controls and Procedures 36 PART II. OTHER INFORMATION 38 Item 1.
Legal Proceedings
Legal Proceedings 38 Item 1A.
Risk Factors
Risk Factors 38 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38 Item 5. Other Information 38 Item 6. Exhibits 39
Signatures
Signatures 40 Forward-Looki ng Statements This Quarterly Report on Form 10-Q contains forward-looking statements. All statements, other than statements of historical fact included in this report, concerning our plans, objectives, goals, strategies, future events, future performance, financing needs, plans or intentions relating to business trends and other information referred to under Management's Discussion and Analysis of Financial Condition and Results of Operations are forward-looking statements. We use words such “affect,” “anticipate,” “backlog,” “be,” “believe,” “commit,” “can,” “contingent,” “continue,” “could,” “due to,” “estimate,” “expect,” “future,” “intend,” “likely,” “may,” “optimize,” “plan,” “potential,” “trend,” “realize,” “result,” “seek,” “should,” “strategy,” “will,” “would,” and similar expressions to identify forward-looking statements. Forward-looking statements are not guarantees of future performance. Forward-looking statements are based on our current expectations and beliefs and on currently available operating, financial and market information and are subject to various risks and uncertainties, many of which, by their nature, are inherently uncertain and beyond our control. Our expectations and beliefs are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that our expectations or beliefs will result or be achieved and actual future results and trends may differ materially from what is expressed in or indicated by the forward-looking statements. There are a number of risks, uncertain
FINANCI AL INFORMATION
PART I. FINANCI AL INFORMATION
Condensed Consolidated F inancial Statements
Item 1. Condensed Consolidated F inancial Statements Condensed Consolidated B alance Sheets (In millions, except number of shares which are reflected in thousands, unaudited) November 30, 2023 August 31, 2023 Assets Cash and cash equivalents $ 307.3 $ 281.7 Restricted cash 14.0 21.0 Accounts receivable, net 458.7 529.9 Income tax receivable 10.5 42.2 Inventories 883.6 823.6 Leased railcars for syndication 159.8 187.4 Equipment on operating leases, net 1,095.8 1,000.0 Property, plant and equipment, net 618.1 619.2 Investment in unconsolidated affiliates 89.4 88.7 Intangibles and other assets, net 248.9 255.8 Goodwill 128.6 128.9 $ 4,014.7 $ 3,978.4 Liabilities and Equity Revolving notes $ 279.4 $ 297.1 Accounts payable and accrued liabilities 640.9 743.5 Deferred income taxes 85.2 114.1 Deferred revenue 42.2 46.2 Notes payable, net 1,479.4 1,311.7 Commitments and contingencies (Note 14) Contingently redeemable noncontrolling interest 56.5 55.6 Equity: Greenbrier Preferred stock - without par value; 25,000 shares authorized; none outstanding — — Common stock - without par value; 50,000 shares authorized; 31,091 and 30,880 shares outstanding at November 30, 2023 and August 31, 2023 — — Additional paid-in capital 361.3 364.4 Retained earnings 919.1 897.5 Accumulated other comprehensive loss ( 6.4 ) ( 7.3 ) Total equity – Greenbrier 1,274.0 1,254.6 Noncontrolling interest 157.1 155.6 Total equity 1,431.1 1,410.2 $ 4,014.7 $ 3,978.4 The accompanying notes are an integral part of these financial statements 5 Condensed Consolidated Sta tements of Operations (In millions, except number of shares which are reflected in thousands and per share amounts, unaudited) Three Months Ended November 30, 2023 2022 Revenue Manufacturing $