GBRX Ends FY19 With “Positive Momentum”

The Greenbrier Companies, Inc. (GBRX) reported financial results for its fourth fiscal quarter and year ended August 31, 2019. The former includes record revenue of $914.2 million; the latter, record revenue of $3 billion and a record new railcar delivery total of 23,400 units for the year.

Tekorius Promoted to GBRX President, COO

The Greenbrier Companies, Inc. (GBRX) promoted Lorie Tekorius from Executive Vice President and Chief Operating Officer to President and COO, with expanded responsibilities.

Greenbrier Releases Green Report

The Greenbrier Companies, Inc. (GBRX) released its inaugural Environmental, Social and Governance (ESG) report, which includes Greenbrier’s corporate social responsibility accomplishments.

Greenbrier acquiring ARI

In a transaction valued at $400 million, the Greenbrier Companies, Inc. (GBRX) has entered into an agreement to acquire the manufacturing business of American Railcar Industries (ARI) from ITE Management LP (ITE), the hedge fund that bought ARI from investor Carl Icahn in December 2018. GBX said the result will be “a larger U.S. railcar manufacturing footprint, adding ARI’s two manufacturing facilities in Arkansas. It will employ more U.S. workers at cost-competitive and flexible facilities, with a more-efficient delivery model throughout North America, due to lower transportation costs.”