Railcar maker Greenbrier wrestled with the twin issues of volume and mix in the second quarter as lower railcar deliveries weighed on revenue and profits, even though cash flow stayed solid.
Fiscal Q2 2026 earnings for the Lake Oswego, Ore.-based supplier (NYSE: GBX) saw weak earnings per share at $.47 versus $.89 in estimates, on revenue of $587.5 million that also fell below expectations.
Cash flow checked in at a positive $159 million and fleet utilization neared 98%.
Earnings from operations were about $25 million, or 4.3% of revenue, which points to margin pressure versus stronger recent quarters.
“Greenbrier delivered resilient second quarter results in a low-volume environment,” said Chief Executive and President Lorie Tekorius, in an earnings release. “Our integrated business model, supported by disciplined execution and strong cash generation, continued to drive performance. We further strengthened our liquidity and balance sheet, providing flexibility while customer commitments remain measured and market conditions continue to evolve.”
Management raised the quarterly dividend by 6% to $.34, which signals confidence in cash generation even amid a softer quarter.
The company continued to emphasize strong liquidity and fleet utilization, suggesting the leasing side remained a stabilizer.
Greenbrier updated guidance to 17,500-20,500 units from 15,350- 16,350 units, and revenue to $2.7-$3.2 billion from $2.4-$2.5 billion.
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