Greenbrier boasts ‘robust’ balance sheet, $985 million liquidity

By Devika Patel

Knoxville, Tenn., June 29 – Greenbrier Cos., Inc. reported what it called a strong balance sheet and high liquidity in the last quarter.

“Our balance sheet is robust and provides flexibility to grow the business,” executive vice president and chief financial officer Lorie L. Tekorius said on the company’s third quarter ended May 31 earnings conference call on Friday.

“Our cash balances and available borrowings on credit facilities exceed $985 million, including cash of $590 million.

“We remain confident in our capital allocation strategy, focusing on cash flow generation and return on capital employed.

“This strategy will continue to create long-term shareholder value,” Tekorius said.

The balance sheet allows the company to consider shareholder distributions and growth.

“Our balance sheet has continued to strengthen and provides us with significant optionality and flexibility for capital distribution to shareholders as well as for investment in growth opportunities,” chairman, president and chief executive officer William A. Furman said on the call.

Adjusted EBITDA for the quarter was $86.9 million.

Cash and cash equivalents were $589,969,000 as of May 31, 2018, compared to $586,008,000 as of Feb. 28, 2018 and $465,413,000 as of May 31, 2017.

Greenbrier is a Lake Oswego, Ore.-based supplier of equipment and services to the freight rail transportation markets.

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