Greenbrier Cos., the Lake Oswego, Ore.-based railcar and barge manufacturer, said it had a profit of $17.7 million in its second fiscal quarter ending Feb. 29, compared to a $550,000 loss in the same period a year earlier.
Revenue was $458.2 million, compared to $284.3 million in the second quarter last year.
William A. Furman, president and chief executive officer, said “manufacturing orders increased during the second quarter and remained robust during the first part of our current quarter. As a result of momentum across multiple railcar types, we continue to diversify our product mix. We remain optimistic that we are in the early phases of a broad-based recovery in the rail markets we serve.”
The company said new railcar demand drove higher railcar deliveries – 3,700 units in the second quarter, compared to 2,200 units during the same period a year earlier. Manufacturing revenues were $320.2 million for the quarter, compared to $156.6 million during the same period for the previous year.
Revenues for the company’s wheel services unit was $119.9 million, compared to $112.0 million in the second quarter of 2011. Through a network of 40 locations Greenbrier provides wheel services, repairs and refurbishes railcars, and provides railcar parts across North America.
Greenbrier: Demand for new railcars strong
