Freight car builder Greenbrier received orders for 3,400 new railcars worth about $600 million during its fiscal fourth quarter, including a 780-car order from Saudi Railway Company that expands the manufacturer’s relationship with the state-owned rail operator into intermodal equipment.
Lake Oswego, Ore,-based Greenbrier (NYSE: GBX) said that the orders were booked in the quarter ended Aug. 31 and cover several railcar types and end markets. The company said the volume provides a foundation as it enters fiscal 2027.
The orders represent a mix of new and replacement fleets across several care types, Vice President of Marketing and General Manager Thomas Jackson told FreightWaves. They include hoppers, flatcars, tank cars, boxcars/refrigerated cars and gondolas. The orders are spread evenly across railroads, shippers and operating lessors, he added.
A TrinityRail (NYSE: TRN) executive in a recent interview with Trains described a tightening North American railcar market.
Chief Commercial Officer Charley Moore said roughly 200,000 cars are nearing retirement, public-lessor fleet utilization is in the high 90% range, and industry output of about 25,000 cars in 2026 is below replacement needs. He expects production to rise to 30,000–35,000 cars in 2027, though tariffs, higher steel costs and uncertainty have delayed customer ordering decisions.
The Saudi order includes tank cars for phosphoric acid and molten sulfur ladings, along with intermodal railcars. It marks Greenbrier’s first sale of intermodal units to SAR, a customer relationship that began with a tank car order in 2015.
Greenbrier said tank cars built with U.S. steel were manufactured at its North American facilities in Mexico and have begun shipping to Saudi Arabia. The equipment is intended to support freight capacity and rail-infrastructure development in the kingdom.
“Our fiscal fourth-quarter orders demonstrate global customer demand for Greenbrier’s products and the value of our commercial and engineering capabilities,” Brian Comstock, executive vice president and president of The Americas, said in a statement. He said the SAR award demonstrates Greenbrier’s ability to supply specialized equipment for customers’ operating requirements while extending its established technology into overseas markets.
Greenbrier owned lease fleet comprises about 20,600 railcars, according to the company.
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