Filing Flows › Greenbrier Companies (GBX) › Q2 FY26
Greenbrier Companies (GBX) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Apr 7, 2026
Greenbrier Companies (GBX) reported revenue of $588M for the second quarter fiscal 2026 (Q2 FY26), -23% from a year earlier and -17% from the quarter before. Operating margin was 4.3%, net earnings $15.0M (2.6% of revenue).
Greenbrier Companies, Q2 FY26: revenue $588M (-23% year over year), operating margin 4.3%, net earnings $15.0M, operating cash flow $159M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $588M | -17% | -23% |
| Gross profit | $69.5M | -33% | -50% |
| Operating profit | $25.1M | -59% | -70% |
| Net earnings | $15.0M | -59% | -71% |
| Operating cash flow | $159M | +108% | +70% |
| Free cash flow | $129M | +588% | +389% |
What changed
Revenue was $587.5M in Q2 FY26, down 23% year over year and down 17% from the previous quarter. Manufacturing was the largest line at 92% of revenue. Manufacturing lost $171.4M year over year (down 24%), 98% of the total change.
Gross margin was 11.8%, down 6.4 points from Q2 FY25. Operating profit was $25.1M, a 4.3% margin (down 6.7 points year over year). Operating expenses fell 19% while revenue fell 23%. Net earnings were $15.0M, down 71% year over year ($13.9M including minority interests, which bore $1.1M of losses). The effective tax rate was 10.9%.
Operating cash flow was $158.7M (up 70% year over year), 1142% of net income including minority interests. Non-cash charges added back $31.5M of depreciation and amortization and $5.9M of share-based compensation. Working capital and other items added $107.4M. Capital expenditures of $30.1M left free cash flow of $128.6M.
Questions
What was Greenbrier Companies' revenue in the second quarter fiscal 2026?
Greenbrier Companies (GBX) reported revenue of $588M for the second quarter fiscal 2026 (Q2 FY26), -23% from a year earlier and -17% from the quarter before.
Was Greenbrier Companies profitable in the second quarter fiscal 2026?
Operating profit was $25.1M (4.3% of revenue) and net earnings $15.0M.