Exhibit 99.1

Greenbrier Reports Strong Fiscal First Quarter, Continues to Increase Production

~ EPS increases to $0.48; Backlog reaches 13,300 units valued at $1.1 billion ~

Lake Oswego, Oregon, January 6, 2012 – The Greenbrier Companies (NYSE: GBX) today reported results for its fiscal first quarter ended November 30, 2011.

First Quarter Highlights

Financial Highlights:

Manufacturing Segment Summary:

Liquidity:

Discussion of Quarterly Results and Outlook

William A. Furman, president and chief executive officer, said, “I am pleased with our first quarter results, as our operating momentum continues to build. Business trends continue to be strong in our North American rail-related businesses. In response, over the past five quarters we have steadily ramped up new railcar production in North America, increasing production rates on existing lines and opening up new or previously idle production lines to meet growing demand. We continue to believe industry fundamentals are solid, with a number of secular and cyclical drivers boosting railcar demand. Among these drivers are increased rail traffic, overall transportation market share gains by rail, pent up demand from the previous downturn, and a growing strength in the US energy market which we expect will continue.”

Mark Rittenbaum, chief financial officer added, “Momentum from the second half of fiscal 2011 has carried over into the first fiscal quarter of 2012. We continue to realize increased operating leverage through efficiencies associated with operating at higher production rates and cost reduction initiatives implemented during the downturn. We expect this trend to continue as our growing workforce becomes trained and as we benefit from our strategy of entering into shorter term lease contracts during the downturn, which are now renewing in a more favorable pricing environment.”

Segment Details

The Manufacturing segment consists of new railcar production in Europe and North America, and marine production in North America. Manufacturing segment revenue for the first quarter was $262.7 million, compared to $85.4 million in the first fiscal quarter of 2011. This revenue increase was primarily due to increased demand which drove higher railcar deliveries. First quarter new railcar deliveries totaled 3,300 units, compared to 1,050 units in the prior comparable period, reflecting higher production rates on existing lines and additional production lines compared to the prior year. Manufacturing gross margin for the first quarter was 10.1% of revenues, compared to 6.7% in the first quarter of 2011. The increase in margin was attributed to a more favorable product mix, efficiencies gained by operating at higher production rates, and higher volumes of leased railcar syndications.

The Wheel Services, Refurbishment & Parts segment, which consists of a network of 38 locations, provides wheel services, and repairs and refurbishes railcars, and provides railcar parts across North America. Revenue for this segment in the current quarter was $117.7 million, compared to $95.3 million in the first quarter of 2011. The increase of $22.4 million was primarily attributed to higher sales and scrap volumes, as well as an increase in scrap metal pricing. Gross margin for the Wheel Services, Refurbishment & Parts segment was 10.1% of revenues, compared to 9.3% of revenues in the prior comparable period. The increase in margin as a percentage of revenue was primarily the result of efficiencies of operating at higher wheel services volumes and an increase in scrap metal pricing, partially offset by operating inefficiencies in repair and refurbishment as we train new employees.

The Leasing & Services segment includes results from the Company-owned lease fleet of approximately 9,000 railcars and from fleet management services provided for approximately 217,000 railcars. Revenue for this segment was $17.8 million for the quarter, compared to $18.2 million in the same quarter last year. Leasing & Services’ gross margin for the quarter was 45.7% of revenue, compared to 50.0% of revenue in the same quarter last year. The decrease in segment revenue and margin was primarily the result of the discontinuation of a certain management services contract in the second quarter of 2011. This was partially offset by increased lease fleet utilization and higher rents earned on leased railcars for syndication and on maturing leases, as they renew at higher rates. Lease fleet utilization as of the end of the quarter was 97.1%, compared to 95.7% as of August 31, 2011 and 96.7% as of November 30, 2010.

Gains on disposition of equipment in the current quarter were $3.7 million, compared to $2.5 million in the first quarter of 2011. The current quarter’s gain was all from the disposition of leased assets. The prior year’s comparable quarter included a $0.6 million gain on the disposition of leased assets and a $1.9 million gain on insurance proceeds related to the January 2009 fire at one of our Wheel Services, Refurbishment & Parts facilities.

Selling and administrative costs were $23.2 million for the quarter, versus $17.9 million for the same quarter last year. The increase is primarily due to increased employee related costs associated with operating at higher volumes, restoration of salary reductions implemented during the market downturn, and increases in incentive compensation.

Interest and foreign exchange expense was $5.4 million for the quarter, compared to $10.3 million for the same period in 2011. The current quarter benefited from lower interest rates from our recent refinancings and a foreign exchange gain of $0.9 million. The prior year’s comparable quarter included a foreign exchange gain of $0.1 million.

Business Outlook

Based on current business trends, management anticipates that revenues, Adjusted EBITDA and earnings per share will be significantly higher in fiscal 2012, compared to fiscal 2011, with positive momentum continuing across all business segments and, in particular, the manufacturing segment. The Company continues to expect that its new railcar deliveries will exceed 15,000 units for the year, as the new freight car market continues to show solid demand. In response to this increased demand, over the last several quarters the Company has increased its production rates on existing production lines and its capacity at its facilities in Mexico. Currently, railcars are being produced on eight production lines in North America, with the flexibility, later in the year, to produce railcars on three additional lines. The Company’s European operations are also anticipated to continue to contribute to overall corporate profitability.

Conference Call

The Greenbrier Companies will host a teleconference to discuss fourth quarter results. Teleconference details are as follows:

Please access the site 10 minutes prior to the start time. Following the call, a replay will be available on the same website for 30 days. Telephone replay will be available through January 21, 2012 at 1-203-369-1951.

About Greenbrier Companies

Greenbrier, (www.gbrx.com), headquartered in Lake Oswego, Oregon, is a leading supplier of transportation equipment and services to the railroad industry. Greenbrier builds new railroad freight cars in its three manufacturing facilities in the U.S. and Mexico and marine barges at its U.S. facility. It also repairs and refurbishes freight cars and provides wheels and railcar parts at 38 locations across North America. Greenbrier builds new railroad freight cars and refurbishes freight cars for the European market through both its operations in Poland and various subcontractor facilities throughout Europe. Greenbrier owns approximately 9,000 railcars, and performs management services for approximately 217,000 railcars.

“SAFE HARBOR” STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: This release may contain forward-looking statements, including statements regarding expected new railcar production volumes and schedules, expected customer demand for the Company’s products and services, plans to increase manufacturing capacity, new railcar delivery volumes and schedules, growth in demand for the Company’s railcar services and parts business, and the Company’s future financial performance. Greenbrier uses words such as “anticipates,” “believes,” “forecast,” “potential,” “contemplates,” “expects,” “intends,” “plans,” “seeks,” “estimates,” “could,” “would,” “will,” “may,” “can,” and similar expressions to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to certain risks and uncertainties that could cause actual results to differ materially from in the results contemplated by the forward-looking statements. Factors that might cause such a difference include, but are not limited to, reported backlog is not indicative of our financial results; turmoil in the credit markets and financial services industry; high levels of indebtedness and compliance with the terms of our indebtedness; write-downs of goodwill, intangibles and other assets in future periods; sufficient availability of borrowing capacity; fluctuations in demand for newly manufactured railcars or failure to obtain orders as anticipated in developing forecasts; loss of one or more significant customers; customer payment defaults or related issues; actual future costs and the availability of materials and a trained workforce; failure to design or manufacture new products or technologies or to achieve certification or market acceptance of new products or technologies; steel or specialty component price fluctuations and availability and scrap surcharges; changes in product mix and the mix between segments; labor disputes, energy shortages or operating difficulties that might disrupt manufacturing operations or the flow of cargo; production difficulties and product delivery delays as a result of, among other matters, changing technologies, production of new railcar types, or non-performance of subcontractors or suppliers; ability to obtain suitable contracts for the sale of leased equipment and risks related to car hire and residual values; difficulties associated with governmental regulation, including environmental liabilities; integration of current or future acquisitions; succession planning; all as may be discussed in more detail under the headings “Risk Factors” and “Forward Looking Statements” in our Annual Report on Form 10-K for the fiscal year ended August 31, 2011, and our other reports on file with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s opinions only as of the date hereof. Except as otherwise required by law, we do not assume any obligation to update any forward-looking statements.

Adjusted EBITDA is not a financial measure under generally accepted accounting principles (GAAP). We define Adjusted EBITDA as earnings (loss) attributable to Greenbrier before special items, loss (gain) on extinguishment of debt, interest and foreign exchange, income tax expense (benefit), depreciation and amortization. Adjusted EBITDA is a performance measurement tool commonly used by rail supply companies and Greenbrier. You should not consider Adjusted EBITDA in isolation or as a substitute for other financial statement data determined in accordance with GAAP. In addition, because Adjusted EBITDA is not a measure of financial performance under GAAP and is susceptible to varying calculations, the Adjusted EBITDA measure presented may differ from and may not be comparable to similarly titled measures used by other companies.

THE GREENBRIER COMPANIES, INC.

Condensed Consolidated Balance Sheets

THE GREENBRIER COMPANIES, INC.

Condensed Consolidated Statements of Operations

(In thousands, except per share amounts, unaudited)

THE GREENBRIER COMPANIES, INC.

Condensed Consolidated Statements of Cash Flows

(In thousands, unaudited)

THE GREENBRIER COMPANIES, INC.

Supplemental Disclosure

Reconciliation of Net earnings (loss) attributable to Greenbrier to Adjusted EBITDA ⁽¹⁾

(In thousands, unaudited)

THE GREENBRIER COMPANIES, INC.

Calculation of Earnings (Loss) Per Share

The shares used in the computation of the Company’s basic and diluted earnings (loss) per common share are reconciled as follows:

The dilutive EPS for the three months ended November 30, 2011 was calculated using the most dilutive of two approaches. The first approach includes the dilutive effect of outstanding warrants and shares underlying the 2026 Convertible notes in the share count using the treasury stock method. The second approach supplements the first by including the “if converted” effect of the 2018 Convertible notes issued March 2011. Under the “if converted method” debt issuance and interest costs, both net of tax, associated with the convertible notes are added back to net earnings and the share count is increased by the shares underlying the convertible notes. The 2026 Convertible notes would only be included in the calculation of both approaches if the current stock price is greater than the initial conversion price of $48.05 using the treasury stock method.

Earnings before interest and debt issuance costs on convertible notes

Weighted average diluted common shares outstanding

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