Greenbrier reported resilient Q2 2026 results, demonstrating improved profitability and strong liquidity amidst a moderated freight railcar market, with strategic operational and portfolio adjustments enhancing long-term stability.

• Despite lower sequential deliveries, gross margins and earnings surpassed prior periods, supported by structural cost improvements.
• North American railcar deliveries are expected to reach around 24,000 in 2026, reflecting a stronger, more diversified business profile than during previous peak years.
• Backlog remains robust at ~15,200 units ($2.1 billion), with over 50% driven by lease originations, underpinning ongoing leasing and manufacturing strength.
• Leasing & Fleet Management maintained above 98% utilization with high renewal rates, and recent ABS financing highlights investor confidence.
• The company’s disciplined approach to capacity alignment, cost management, and portfolio optimization positions it well amid evolving macroeconomic and industry conditions.