The Lake Oswego, Oregon-based company reported net earnings of $15.2 million, or 46 cents a share, down from $33 million, or $1.01 a share, a year ago. Adjusted earnings came to 89 cents a share, short of analysts' expectations of 96 cents.
Revenue increased 33% to $856.2 million, missing Wall Street's expectation of $863.2 million.
Looking ahead, Greenbrier said it expects fourth-quarter revenue will be nearly $1 billion and earnings to range from $1.30 to $1.50 a share, while analysts were looking for revenue of $1.10 billion on earnings of $1.90 a share. New railcar deliveries totaled 6,500 units for the quarter.
In April, Greenbrier said it would acquire the manufacturing business of American Railcar Industries from ITE Management for $400 million.
"Greenbrier's current and expected performance is consistent with our prior comments that revenue and margin would be back-half weighted this fiscal year," said William Furman, chairman and CEO. "These gains were muted in our overall financial results due to continued weakness in Greenbrier's railcar repair business and certain international operations, along with costs associated with the ARI acquisition."
Furman said "Greenbrier's Brazil operations are being right-sized for the current demand environment before order activity ramps up as expected in 2020 and over the coming years."