Greenbrier moves down a gear in Q1 FY 2017

Net earnings attributable to the Greenbrier Companies Inc. totaled $25 million for the first quarter of fiscal year 2017, while the company’s revenues stood at $552.3 million, quarter-over-quarter declines of 25.6 percent and 7.2 percent, respectively.    Net earnings attributable to the Greenbrier Companies Inc. totaled $25 million for the first quarter of fiscal year 2017, which ended Nov. 30, 2016, a 25.6 percent drop from one quarter prior.
   The Lake Oswego, Ore.-based railroad transportation and equipment manufacturer saw revenues fall 7.2 percent quarter-over-quarter in Q1 FY 2017 to $552.3 million.
   Greenbrier’s board declared a quarterly dividend of $0.21 per share, payable Feb. 16, 2017, to shareholders as of Jan. 26, 2017.
   Looking ahead, Greenbrier is negotiating to exercise its option to raise its equity position in Brazilian railcar manufacturing joint venture, Greenbrier-Maxion, to 60 percent.
   “Brazil’s economic, business and political conditions have improved and forecasts indicate continued GDP improvement in 2017,” Greenbrier Chairman and CEO William A. Furman said. “We have accelerated discussions to increase our interest in the Brazil operations with an incremental investment of nearly $24 million, which will be used to pay down high cost debt.”