morning to this Justin. you, heads-up by out start just going a this Good did complimenting preliminary I’m a reports. Thank morning. analyst and I first guess couple go morning, the who of I’ll with
them very issues address immediately I’m to going to myself be that of touch direct. of were two certainly on raised. the We’re some to going and
our to to plan. good managing a we plan plan plan the exceeded three a plans. – the we do have each a and we last to we’ve have attempt manage years, We very The job and year,
regard guidance, more about to I be want So specific with to guidance.
or in $X is goal share orders a XXXX. in XX,XXX more, XXXX and Our plus
the of better. you we to headwinds have both us had, expect the from X from if turn that September importantly, to of our disasters much our this that like late We driver in remember and and communities if and Page two minority any GBW, at And rate it’s see which start that who have believe when reminding remarks people opportunity numbers, margins. occurred August also don’t and the everybody much, to not you positive, three at way. that we business a in I all in to more look communities interests not expect about a numbers, you and in Harvey those tax be Hurricane of look in in produce I we in bottom in morning, though, to Texas is expect, want that in source therefore, we issues pause our is natural operate. affected at about XXXX just it’s numbers, industry, those significant earthquakes I’d And which industry have my Mexico. affected operate. but that about
humanitarian not individually employees, communities, to meet Carlos related business but relatives. our that Mexico what know not very impact where and of which to where who industrialist, matched fundraising, and is United people natural There recognize really and customers I day, care multiple our particularly about disasters. the operate, challenges the employees Mexico they proud in response recent in about these many communities them States, We live It operate lives Xx responded and aid making are in operate. Slim, did events care. they people care billionaire saving these customers, collectively does need. Greenbrier’s where wanted in tragedies make significant many extraordinary I’m where only Greenbrier Greenbrier our our and did We different. affected We I direct we Although in impressive care directly are have employees and we weeks their to and in with providing our operations, but and things. communities where about by in to relief. rise every we our
care we’re good to O’Neal. of the But be about also and also Director, Dan soon. former take friend remised I to get We those the would to and remember numbers, very moment to not Greenbrier fellow passing going a our
at railroad of death Commerce month. an of part, North Truly, in America this Greenbrier D.C. footprint our world. in was deregulation, an big remained intermodalists, and the And Washington, helped this the revitalizing Intermodal earlier stack, Dan railroad figure his revolution and assisting Chairman Chairman other with thereby As – the Interstate O’Neill Commission, Dan in until and he revitalizing we a he active implement the U.S. home tremendous to along on a him intermodal made morning. helped industry. in around industry respected Greenbrier remember double and play
to turning results. our Now
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are terms to Street expected something orders XX,XXX sort really in us is out have the expect has We we This do. of that cars plus the the of don’t think goals. range. think to I of our
is XX,XXX goal XXXX. Our orders for
to XXXX. from future, the thus in during produced we We that the underpinnings expect far. internationally, to of X,XXX have international come we those expect And grow
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a forward, we average don’t rate led at grow And which of in expect are loading this all sand standouts X.X%. traffic benefits expected growth, all you growth loadings by these with and expect have that strength. frac to While loading over years, roughly looking a a intermodal, but loadings great This forecasted with of to types been the Greenbrier. in to GDP, show in an intermodal year, metals, annual be is next profile couple line look that underpinning of line when of deal we
levels, closely track we delivery performance. is constant railcars surface measure Another This for that, rail estimate a additional is rail demand mile-per-hour every in one equates industry for to reduction maintain velocity. rail-road
do in deal international Europe reach of is the which our to rightly reasons, trending be an compared or a down in here and not strategy we XX,XXX well and I an to Americas rail nose our forward-looking everything industry, in accurate Now the presence in year Cooperation our operate, take cars. specifics. is our The time aggregate And velocity the of of environment course, on depends give same has us economic North the down. With Eurasia. as a will going are this from September, North international America might, for depends as does, been And U.S. loadings the I’m to But its XX,XXX the its velocity to up, Council health The us for great for sometimes and mile-per-hour through to especially diversification year performance. of while on that, points railroad last much share look where math. region loading’s X% these as strategy our is to down and you and am enables people optimist in of XX,XXX that America Greenbrier’s reduction strategy clearly be current the and are off. many up currently range, across early important and are look the economy. year. at maximize in differ Leave see business, range X% in true the may markets a The can XXXX as X.X% Greenbrier the railroad course, velocity on the the like numbers which to suppose bad statements. at market strong in I supply clear. of about is railcars in America additional index. intermodal base will fundamentals in Greenbrier’s to and and and footprint on underpinnings our expanding And it strategies, out of North for clearly over every growth. benefits business of out XX%. paying It’s industry, Greenbrier and The year-to- is XXXX. all story, Justin what Gulf amount,
our cash part In first We the as Greenbrier. expect course, believe deal strategy at particularly that of of and lower optionality a a the business we something takes as through advantage only great Strategy in This other greater of markets. also, words, in new course, initiative, of revenues international strategy cycle mover flows, the power equation. is, volatility the hold. one
XXXX, our CFOs. two strengthen fiscal continued balance to During a trend successive through sheet, we achieved
our a financial overly is a but industry debt, Tekorius, very, dramatically. the Lorie important Rittenbaum successive sheet in of Greenbrier. end a sheet in cash and Under and earnings, quarter, the stability the and the two negative balance record the over had $XXX and CFOs, we million focus markets Our balance in has quarter-to-quarter much the P&L At of Mark general item for improved business. very net of
deploying continue We efficiently, steps of to most important ensure jobs. one take capital we’re to our
shareholder total And ROICs positive to on generation share In support invested fact, strategy, Greenbrier’s in most and the and form shareholder it our of cash return both effectively, to job. capital, board return. cash is believes important our to boost
And to focused return. are we’ve shareholders returned dividends and in on stock We $XXX total shareholder million recent over years, buybacks.
You’ve noted the dividend. raised that we’ve
seen investments approved has are this our raising prominently most used going international sequentially, with to complete, dividend and these Brazil footprint. and board continue in Europe. in the you’ve But our transactions to are a Our while we year capital invest our again
manufacturer largest our South expanding largest the the and base capital now dividend for we of as the well These the as our are railcars We’re America. in benefit of of policy, in demonstrate activities, shareholders. new Europe deployment
where of We years, the the of that exception return to rates It type in realize the see XX% you on in railroad in have can with else is had, supply of industry. past investments pockets incremental difficult ROIC range.
range progress is strength Lastly, during financial our deliveries increase that fiscal the the the to strategy business year. earnings talked our impact Greenbrier’s implementation and improvement revealed revenues operational successful about we’ve Greenbrier exceeded and the and by fourth Gradual in and in the Deliveries markets quarter freight of guidance year. for the quarter. fourth the ended and our recently of revenue rail strategy helped
quarter. were So over the quarter up in fourth third the revenues
in today them being Total more view than expect railcars at last and XXXX. than a of total. orders only the XXXX more story international end Greenbrier’s slightly of is there share, There fiscal the XXXX. were not market more are up We backlog than many again fiscal observers by materially The to double in growth. driven year’s in optimistic be the in domestic industry, market
what’s wrong We cancellations. see picture. no have this to to had I order have with hard strive
three have We are on intend talked to traction continents, four more. we strong important now developments earlier and activities continents, operations strategic We internationally, and with presence on as do commercial about. manufacturing gaining
quality almost And railcar railroad XXXX, over some about. Class added American We commercial management, fee railcar since XX% services income are fleet. All of Today, where end X with This earlier our of have the unit, services railcars Class touch services, area North in confront to XX,XXX reliability X the generates management our their which In Greenbrier’s well fiscal XX% strengthened and many lows all-time venture more as relationships, Greenbrier than of for asset circumstances valuable new loadings are talked XX,XXX growth as conduct essential. joint help of our benefits. GBW as on & that for to railroads well doing America as to portfolio and managed Greenbrier’s additional Parts beginning North other railcars of the our in Watco. Wheel XXXX. fleet increase the relies an quarter in an after aftermarket coal on as operation. is portion And still with service have in continue of this was well
Turner, engaged efficiency sets, such demand investment XXXX. Sumitomo, expect lead this fiscal Parts & as summit progress with year Rick avenues is our Wheels on finding wheel the and by for new actively veteran increasing rail improving industry during in this for However, and team
Our improvement for major is area GBW.
We in expect on goal meaningful XXXX. advancement this
We to competitive it’s flows where our because markets Lorie. that, the cash cash balance producing you, continue facilitates product position Greenbrier’s our we our cycle. for good very summary, operate. our first this is you, got engineering, sheets development, Actually, generation are in Strong in and strategy bright. time, design flow and in working Lorie, all in strongly the to to results. is good go With all response believe and over in And people, over and industry to in future the In particular, today. future. to industry I the things significant over back We competitive invest boosts
