In the 3rd fiscal quarter of the company, Greenbrier reported net earnings of $34 million, translating to $1.06 per diluted share, on revenues totaling $820 million. This marks the highest diluted earnings per share in over four and a half years. The company also achieved an EBITDA of $104 million, which constitutes 13% of its revenue for the quarter.
The quarter saw the addition of 600 wagons to Greenbrier's lease fleet, bringing the total to 15,200 wagons, with a utilization rate nearing 99%. The company generated an operating cash flow of $84 million and recorded new railcar orders for 6,300 units valued at $830 million. Greenbrier delivered 5,400 wagons during the quarter, resulting in a backlog of 29,400 wagons with an estimated value of $3.7 billion.
Greenbrier has also provided an updated outlook for fiscal 2024 based on current trends and production schedules. The company anticipates deliveries of 23,500 to 24,000 wagons, including approximately 1,400 wagons in Brazil. Revenue is projected to range between $3.5 billion and $3.6 billion, with a consolidated gross margin percentage in the mid-teens.
Capital expenditures are expected to be around $150 million for manufacturing and $15 million for maintenance services. In the Leasing & Management Services segment, gross leasing investment is projected at approximately $340 million, which includes 2024 capital expenditures and the transfer of railcars into the lease fleet that were manufactured and held on the balance sheet in 2023. Additionally, proceeds from equipment sales are expected to be around $75 million.
Greenbrier is headquartered in Lake Oswego, Oregon, and is a leading international supplier of equipment and services to global freight transportation markets. The company, through its subsidiaries and joint ventures, designs, builds, and markets freight railcars in North America, Europe, and Brazil. Greenbrier is a key provider of freight railcar wheel services, parts, maintenance, and retrofitting services in North America.
