And lastly, the consistent improvement in our financial performance across economic cycles. But lackluster traffic trends are starting to compound at this point. The Greenbrier Companies, Inc. (NYSE:NYSE:GBX) Q3 2023 Earnings Conference Call June 29, 2023 11:00 AM ETCompany ParticipantsJustin Roberts - VP & TreasurerLorie Tekorius - President. Since 2014, Greenbrier has returned over $470 million of capital to shareholders, through dividends and share repurchases. And then I guess one more on the refurbishment side, net backlog has been kind of declining, are we reaching closer to like an end of like market cycle here where there's not as much activity on those that side of the conversions or whatever it's called just any color, there would be great? Read the latest news and information for business continuity professionals. Thank you. So, good question, Matt. Yes, I think the mix is it's a better mix, we're starting to see a little bit more automotive product, as well as tank cars into the mix. The Greenbrier Companies, Inc. (NYSE:GBX) Q3 2023 Earnings Conference Call June 29, 2023 11:00 AM ET, Brian Comstock - EVP & Chief Commercial and Leasing Officer, Ken Hoexter - Bank of America Merrill Lynch. Find information on BCI Summit - Conferences in New York City, USA 2023, 2024, including dates, locations, price ranges, and more. An integral part of this strategy is to return capital to our shareholders through dividends and share repurchases. So I think what you'll see is just a shift from some of the large conversions to some of the large tank car requalification programs. And what's interesting is you have to step back and look at the strength [Technical Difficulty] origination. And it really is just mixed primarily from that perspective versus the Q3. We don't have any big ramp ups or any big ramp downs, we'll have some adjustments. Got it. Yes. Please. At this time, I would like to turn the conference over to Mr. Justin Roberts, Vice President, and Treasurer. I'm sorry to do it. googletag.cmd.push(function() { googletag.display('div-gpt-ad-CI-1_POS-07_ADHESION'); }); googletag.cmd.push(function() { googletag.display('div-gpt-ad-CI-1_POS-08_MOBILE_ADHESION'); }); Continuity Insights Management Conference, PenFed Credit Union Boosts Risk Management With iluminr Solution, Webinar: How To Explain Business Continuity To Executives, ERM Professionals, Job Posting: Business Continuity Management Specialist, Horizon Blue Cross Blue Shield NJ, Employees Express Safety Concerns In New Study, Creating Disaster Plans For Small Business, Continuity Insights Management Conference: Meet Diane Stephens, Continuity Insights Management Conference: Meet Kathryn Scourby, Continuity Insights Management Conference: Meet Tahir Rao. May. What kind of what use is it going to be used for? But the backlog new orders came in at about 123 revenues per car down from your printed 141,000 in that third quarter. They are traditionally in the market, but over the last couple of years due to COVID and other reasons. All Rights Reserved. And some of the efficiencies we discussed during the investor day materialized more quickly than expected. Our Capital Markets team syndicated 800 railcars in the quarter, a decrease from Q2, reflecting the timing of production schedules. Okay, great, that's helpful. Yesterday, hopefully you saw that we announced that Pat Ottensmeyer will join the Greenbrier Board of Directors. So we're going to take those opportunities when they arise. But have you guys said what's going to happen to Gunderson? By SCORE Think about all the time and resources you have invested in your small business. And then kind of behind the conversions you've got this requalification to tank cars that are ramping up. Contribute to the development of Business Continuity Management best practices suitable to Horizons way of doing business. Got it understood. You can also read some of our recent . 3D SHOOT Search Results 43 Shoot(s) were found. April 24-26, 2023 Thank you for attending and participating in the 21st annual Continuity Insights Management Conference this week in Minneapolis. Their margins continue to improve sequentially on improved pricing volume and the operating efficiencies we've been focused on establishing over the last two years, expecting a strong end to the year from this segment. Could you expand on the earlier landscape comments and maybe provide an updated outlook on rail traffic trends for the remainder of the year? Earn up to 29 continuing education activity points. Entering text into the input field will update the search result below. The events are designed to provide a platform for professionals and others to exchange knowledge, network, discuss new developments in respective fields as well as showcase products and services to a targeted audience. Is this happening to you frequently? The 20th annual Continuity Insights Management Conference will commence on Monday, April 25 at the Omni Hotel, Louisville, Kentucky. As a reminder, our new railcar backlog does not include 1000 units valued at $85 million that are part of Greenbrier's railcar conversion program. NCQA Makes "Engine" Software Requirements Open-Source, Expanding Access to HEDIS Digital Content ; 2.24.2016 NEWS . Under the current share repurchase program, we have $54 million remaining of the 100 million authorization that extends through January of 2025. This is an exciting time for Greenbrier as we work to optimize our manufacturing capabilities, and grow the leasing and management business. This concludes our question and answer session. Thank you for that. Thank you very much, Lorie. Because we're just working with the new owners for some transition services. And from the syndication channel, any comments on that customer? And we had some bumpiness in the first part of the year. The 21st annual conference taking place April 24-26, 2023 in Minneapolis, MN is the only event designed for senior-level business continuity executives who have the responsibility of ensuring the integrity, availability, resilience, and security of their organizations, and is regularly attended by leadership from Fortune 500 companies, the largest insurance and financial firms, educational facilities and more. In fact, we're seeing even some new entrants that are inquiring about coming into the space. This market remains liquid and a strong appetite for the asset class. And based on the backlog you have today, including the orders you've just received here in June, can you speak to your level of visibility to production in 2024 at this point? May 25, 2023 May 25, 2023 Group C Media, Inc. Acquires Continuity Insights Management Conference and ContinuityInsights.com FOR IMMEDIATE RELEASE Media Contact: Ted Coene Co-President, Group C Media [email protected] 732-616-8483 www.groupc.com Red Bank, NJ - May 25, 2023 - Red Bank, NJ-based Group C Media, Inc. a What kind of rate improvement do you think you can get expiring versus renewal side? Thanks, Ken. The conference has now concluded thank you for attending today's presentation. Post-conference certification and workshops will take place on Thursday and Friday, April 28-29. We do not have information about future BCI Summit - Conferences in New York City, USA. You're pretty close to the mid-teens aggregate gross margin target for '26 quarter. Thanks, and good morning. The broader economic background is somewhat mixed, with several factors creating economic crosscurrents. Get information on new products and services from manufacturers and service providers to the industry. 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The 21st annual conference taking place April 24-26, 2023 in Minneapolis, MN is the only event designed for senior-level business continuity executives who have responsibility for ensuring the integrity, availability, resilience, and security of their organizations, and is regularly attended by leadership from Fortune 500 companies, the largest insurance and financial firms, educational facilities and more. And while there will be unforeseen issues that occurred during some quarters, we're confident that many of the efficiencies achieved thus far will continue. We also laid out Greenbrier strategy to increase margins in our manufacturing segments, grow our recurring revenue base through lease fleet investments, and follow a capital allocation strategy focused on returning value to shareholders. Stay connected to the credit union community with our free newsletter! Okay, and just one last one, if I may. Did You Miss Our Webinar on Operational Resilience? Get information on new products and services from manufacturers and service providers to the industry. A new workplace safety survey from Verkada reveals that the frontline workforce in crisis. So Brazil, came in 200 on the quarter, it didn't really raises delivery there that implies by my calc around 100. Sorry for everybody, technical issues this morning. After four years and an unprecedented . More often than not your first fiscal half is the lower for everything basically deliveries margins earnings, do you expect this to be the case for fiscal '24, even as this really is a highly anomalous cycle? Never before has the need for critical information-sharing been greater. p r December 8, 2022. Pending any major change and the economic condition. And during the three-hour event, we touched on four areas. But it's just kind of the run of the mill, no multiyear orders, just your kind of standard fare, as far as the order came in order diversity. I'm sorry to kind of have a little bit of a chuckle. I'd like to publicly welcome Pat to our Board and look forward to working with Pat to get his perspectives on the freight rail market, as well as his insight into the U.S. Mexico activity. Fourth quarter fleet activity in the warehouse facility will continue to be leveraged at a 75% debt to equity ratio. Check your inbox or spam folder to confirm your subscription. The 20th annual Continuity Insights Management Conference will commence on Monday, April 25 at the Omni Hotel, Louisville, Kentucky.. I would say for 2024, we've got really good visibility, we still do have some pockets where we have open production, but we feel very comfortable about the ability to fill up that space. Thanks. But some of the recent orders that we've received really give us great visibility and continuity on a number of our production lines. Join our friends at the Hyatt Regency Minneapolis, April 24-26, 2023, for the 21st Annual Continuity Insights Management Conference for insight, inspiration, and actionableideas presented by a faculty of leading business continuity experts and practitioners. This is one of the areas where we're seeing improvement ahead of what we thought internally we would be able to achieve. Got it. And sometimes the size of those orders are such that it would really skew our concentration. Imagine that its all gone: furniture, equipment, inventory, records, everything. The full conference agenda is now available to review here. In some cases, we're ahead of our own internal schedules and in others, we're laying the foundation to execute our strategic plan. As we described during the investor day, we intend to grow more steadily over the coming years, and we have committed to invest $300 million per year for each of the next five years on a net basis. Gross margins of manufacturing of 9.6% increased 260 basis points compared with the prior quarter. Check out our events calendar below to find the latest business continuity and resilience events near you. Great, good morning. Because that just seems like an extraordinary shift? [Operator instructions] Our next question we have follow up from Matt Elkott or TD Cowen, you may now go ahead. You may now go ahead. Read more, Group C Media, Inc.The Galleria, 2 Bridge Avenue, Suite 231Red Bank, NJ 07701. Lorie, maybe talk a little bit about the balance of the least fleet versus the build for external sales and manufacturing. While the pandemic has truly challenged each of us personally and professionally, we are confident that resilience will prevail. And as I briefly recap results for this quarter, I'll highlight some achievements towards these goals, with the important caveat that we do not expect our progress to be linear, and our strategic plan and targets contemplate a five-year time horizon. So I'm curious if you could talk about your view on this broader industry production as we move into year fiscal '24. And as Brian will discuss shortly, we've laid the foundation for expanded leasing strategy. You may now go ahead. That's a great question. Mr. Roberts, you may begin. Matters discussed on today's conference call include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Today at its annual conference, the data cloud company announced Document AI, a new large language model (LLM)-based interface that allows . When you look at the industry projections for railcar production in 2024 on a calendar basis, a lot of those forecasts are down a decent amount. The credit union is adding a risk and resilience solution from iluminr to its arsenal. We are confident in our long term strategy as highlighted at our investor day, I believe the best is yet to come. The 21st annual conference - taking place April 24-26, 2023 in Minneapolis, MN - is the only event designed for senior-level business continuity executives who have the responsibility of ensuring the integrity, availability, resilience, and security of their organizations, and is regularly attended by leadership from Fortune 500 companies, the l. Deep dive into hands-on workshops that help you gain practical skills. I would say it's tremendous hard work and focus by the men and women in our manufacturing operations. Copyright 2023 The Business Continuity Institute (BCI) Company No. BCI Events Calendar. Whats Your Earning Potential As A Business Continuity Professional. Yes, there's undoubtedly, when you look at the traffic side of the equation, velocities improving a bit, there's a number of segments that are down because the number of segments in the rail industry that are still fairly robust. Right now what we're seeing in North America is pretty steady production coming out of where we're going to close out the fourth quarter. While we're excited to grow our own balance sheet lease fleet, it is still a relatively modest and I'm probably being generous size. In addition to the press release issued this morning, additional financial information and key metrics can be found in a slide presentation posted today on the IR section of our website. In terms of the underlying leases, the durations are staggered to both mitigate the impact of cyclicality and create upside potential through favorable renewals. But the deals that are coming in all hurdle have the appropriate internal rate of returns. Read the latest news and information for business continuity professionals. As highlighted during our investor day in April, one of Greenbrier strategic initiatives is a balanced approach to capital allocation. Good morning. Click here to view the complete program and early bird registration rates. The market backdrop for leasing remains very positive, and we're in a great position to execute our plan. DEI commitment at stake: Does the SCOTUS decision impact your DEI efforts? But do you have a sense of the cadence of when you'll put cars on the balance sheet and off the balance sheet in the manufacturing business? or call 267-980-6151. Need more information, interested in group rates, or have questions? [Operator Instructions] Our first question will come from Matt Elkott TD Cowen. Top Stories Employees Express Safety Concerns In New Study 06/23/2023 A new workplace safety survey from Verkada reveals that the frontline workforce in crisis. I would say that we will -- we do see a relatively consistent pattern of that each quarter over the next four to five quarters based on production schedules and backlog. Wichita Art Museum. Email Bob Nakao, [emailprotected]. So Ken on the ASP question, our ASP on the June order activity is more in line with our Q1 and Q2 activity. Save my name, email, and website in this browser for the next time I comment. Read the latest news and information for business continuity professionals. Register today to receive Early Bird Pricing and save $200 off the regular . Have a Happy Independence week and be safe. This is Brian, I can dive in again. Learn More. Understood. But they're definitely accretive to our margins. The other interesting thing that if you're just looking at the North American statistics, you also have to look at Europe, where we're continuing to focus on how we can serve that market. Second, our diverse manufacturing capabilities and long track record of innovation. And we're keeping an eye on having a very disciplined approach to how we're growing the fleet on the balance sheet. I'm extremely pleased to share that Gunderson's new owner will retain many of the hard working production workforce of that facility. Maybe to follow up on that last point you made Lorie. Our entry into the European leasing is well ahead of plan and the pipeline for leasing deals is robust, including finalizing our first syndication agreement. As you'll recall, last quarter, we talked about -- second quarter we talked about the headwinds that we were struggling with supply chain and our focus on how to reverse that trend. And long term we think the syndication customers are pretty comfortable. As you know, interest rate pressures have put a lot of -- really a lot of pressure on that side of the house. We are pleased with the performance of leasing and management services in the quarter. We are regularly evaluating our financing strategies as we prepare to meaningfully increase the size of our lease fleet with the goal of more than doubling recurring revenue in the next five years. I know you don't have the same length and duration and size and multi years are some of your competitors, but just what's the appetite for the leasing companies as we look out the next 6, 12, 18 months? Oh, my gosh, it was the most brilliant thing I've ever thought. No, I think you hit it, Lorie. Good morning, everyone, and welcome to our third quarter of fiscal 2023 conference call. And we are actively working to renew these leases ahead of their expiration. As of May 31. A place where brand and agency leaders . Orders continue to be broad based and diverse across most railcar types with the exception of intermodal. I probably should know this. Now returning capital to shareholders is an integral part of our capital allocation strategy. Again, it's hard to perfectly predict if there's going to be something that pops up. How to find joy in our work and why its so important, Berger: Despite chaos, credit unions are built for this. Our next question will come from Allison Poliniak with Wells Fargo Securities, you may not go ahead. 4 Arapaho Road Brookfield, Connecticut 06804-3104 USA. As business continuity professionals return to live, in-person events, were committed to presenting deep, robust content that will meet their current and future educational needs in the evolving, complex business landscape.. We are feeling more confident. Returning to the quarter, we generated revenue of a $1 billion. Read the latest news and information for business continuity professionals. And we're going to close those transactions as appropriate for the business. But this has been more than offset by the bulk rail freight sector, where we continue to see strong demand across widened times. Get information on new products and services from manufacturers and service providers to the industry. Despite weakness in freight volumes, the railcar demand environment remains stable due to pent up replacement demand and tight supply. What would you do? Whats Your Earning Potential As A Business Continuity Professional. And as we've discussed previously, we're bringing fabrication in-house for basic primary parts and sub-assemblies, as part of our make versus buy strategy. In 2024 it looks like things begin to right size as well as a lot of the expansion in Brazil continues to build momentum, there is quite a bit of infrastructure in Central Brazil and other areas that are being completed. Got it. Snowflake is making another generative AI push. August, 2024 Aug 09 International Conference on Business Continuity Planning and Recovering (ICBCPR) - New York, United States Aug 23 International Conference on Business Continuity Management and Disaster Recovery (ICBCMDR) - Rome, Italy September, 2024 After four years and an unprecedented global pandemic, I was honored to welcome back hundreds of credit union leaders and industry professionals in Long Beach for a week of reconnection, thought-provoking sessions, and collaboration at Engage 2023: NAFCUs Annual Conference. BCI Summit hosts events on a wide range of topics, such as Artificial Intelligence (AI), Biotechnology, Data management, Information Technology (IT), Innovations, IT Infrastructure, Operations and IT Security, among others. Our dividend has doubled since its reinstatement in 2014 and illustrates the importance the Board places on this activity. Based on yesterday's closing price or annual dividend represents a yield of approximately 3.7%. So I just want to understand what changed, was there something in there that that did change that led you to raise the outlook? I just want to understand how we should think about that given the build to revenue, kind of take follow through? And so we believe we're seeing quarter over quarter double digits, but in in those cases, we should see much larger double digit increases in the renewals in 2024 for at least that's what we're predicting at this stage, Matt. Learn More. Aggregate gross margin of 12.3% was 190 basis points higher than the prior quarter, resulting from stronger margins in the manufacturing and maintenance services segments attributed to improved operating efficiencies in both segments at higher pricing and volumes in the maintenance services segment. Conferences on "continuity insights management" Showing 1 - 140 conferences out of 6082 MedAffairs Insights & Omnichannel 12 October 2023 London, United Kingdom Call & Contact Centre Expo 29-30 November 2023 London, United Kingdom Risk Management Summer Course 26 Jun - 07 Jul, 2023 Delft, Netherlands ITSA 2023 10-12 October 2023 Nuernberg, Germany Yes, thanks Justin and thanks Bascome. So a large number of cars, same customer, same car type, same commodity. June 30, 2023 by B. Dan Berger, Berger Leadership Blog. And I would say that the targets are based on more stable demand so not a boom market. But I still think there is seems to be at least several years of opportunity on that side. Just to touch on your other comment about Gunderson, there probably be a little bit of we won't have realized all of that permanent savings in our fourth quarter. Whats Your Earning Potential As A Business Continuity Professional. But I'm getting IB that other people, they went quiet. And we're focused on ramping up production in Europe as well, it's not quite the same volume, as you would see here in North America. Registration is now open for the 2023 Continuity Insights Management Conferencethe ONLY industry conference designed for senior-level business continuity professionals. Read the latest news and information for business continuity professionals. Fusion Risk management, a leading provider of operational resilience, risk management, and business continuity software and services, today announced expanded functionality of its Dynamic Response capability as well as the , The thought of a new virus impacting businesses is probably the last thing anyone wants to hear after two years dealing with Covid-19. Our liquidity was $665 million at the end of Q3, consisting of cash of $321 million and available borrowings of $344 million.