Jul. 1 at 11:44 PM
$GBX — April commitment: lease fleet over 20,000 railcars by fiscal year-end. July: 20,600 at 99% utilization — delivered. Margins moved from 11.8% to 14.1%, above guidance. That's the clean part. What changed: EPS upper bound quietly dropped from
$3.50 to
$3.15 ("narrowing"), orders fell 24% sequentially while demand language escalated from "near-term loosening" to "it's not if, it's when," and the February ABS financing described as generating "incredibly strong demand" in April received zero mention in July. European footprint rationalization confirmed complete — the
$20M annualized savings figure attached to it in April was not revisited. #TheGapReport
