Strong Financial Performance
Core net earnings of $56 million or $1.73 per share, reflecting a higher EPS on lower revenue, with an impressive gross margin of 18.2%. Operating income reached nearly $84 million or 11% of revenue.
Increased Dividend
Quarterly dividend increased by nearly 7% to $0.32 per share, demonstrating confidence in long-term strategy and commitment to return value to shareholders.
Robust Backlog and Revenue Visibility
Global new railcar backlog remains strong at over 20,000 units, providing significant revenue visibility and allowing efficient management of production rates and lines.
Leasing and Fleet Management Growth
Recurring revenue reached $157 million over the last four quarters, representing 39% growth from two years ago. Leasing fundamentals remain strong with high renewal rates and rate increases.