Exhibit 99.1

Greenbrier Reports Strong Fiscal Second Quarter; Continues to Increase

Production

~EPS reaches $.57; Backlog of 12,500 units valued at $1.1 billion~

Lake Oswego, Oregon, April 9, 2012 – The Greenbrier Companies (NYSE: GBX) today reported results for its fiscal second quarter ended February 29, 2012.

Second Quarter Highlights

Discussion of Quarterly Results and Outlook

William A. Furman, President and Chief Executive Officer, said, “Our strong quarterly results were driven by revenue and margin growth in all of our business segments, as compared to both the second quarter of fiscal 2011 and the first quarter of fiscal 2012. We expect to continue to benefit from efficiencies of operating at higher volumes.”

Furman continued, “Manufacturing orders increased during the second quarter and remained robust during the first part of our current quarter. As a result of momentum across multiple railcar types, we continue to diversify our product mix. We remain optimistic that we are in the early phases of a broad-based recovery in the rail markets we serve.”

Segment Details

The Manufacturing segment consists of marine and new railcar production in Europe and North America. Manufacturing segment revenue for the second quarter was $320.2 million, compared to $156.6 million in the second fiscal quarter of 2011. This revenue increase was primarily due to increased new railcar demand which drove higher railcar deliveries. Current quarter deliveries totaled 3,700 units, compared to 2,200 units in the prior comparable period, as the Company added production lines and increased production rates on existing lines. Manufacturing gross margin for the second quarter was 9.2% of revenue, compared to 5.8% in the second quarter of 2011. The increase in margin is attributable to efficiencies gained by operating at higher production rates and more favorable customer pricing in the current period. As well, there were inefficiencies in the prior year associated with the ramping up of production at some of our facilities that were previously idle.

The Wheel Services, Refurbishment & Parts segment, which consists of a network of 40 locations, provides wheel services, repairs and refurbishes railcars, and provides railcar parts across North America. Revenue for this segment in the current quarter was $119.9 million, compared to $112.0 million in the second quarter of 2011. The increase of $7.9 million is primarily attributable to higher sales volumes in all three components of this segment, as well as an increase in scrap metal pricing. Gross margin for this segment was 11.1% of revenue, compared to 9.5% of revenue in the prior comparable period. The increase in margin as a percentage of revenue was primarily the result of efficiencies of operating at higher volumes and an increase in scrap metal pricing.

The Leasing & Services segment includes results from the Company-owned lease fleet of approximately 9,100 railcars and from fleet management services provided for approximately 216,000 railcars. Revenue for this segment was $18.1 million for the quarter, compared to $15.7 million in the same quarter last year. Leasing & Services gross margin for the quarter was 48.6% of revenue, compared to 44.4% of revenue in the same quarter last year. The increase in revenue and margin was primarily the result of increased lease fleet utilization, an increase in lease and management rates and higher rents earned on leased railcars for syndication. Lease fleet utilization as of the end of the quarter was 97.3%, compared to 95.9% as of February 28, 2011.

Gains on disposition of equipment in the current quarter were $2.7 million, compared to $2.0 million in the second quarter of 2011.

Selling and administrative costs were $25.0 million for the quarter, versus $17.7 million for the same quarter last year. The increase is primarily due to higher employee related costs, including an increase in headcount and incentive compensation, restoration of salary reductions taken during the down turn and merit increases.

Interest and foreign exchange expense was $6.6 million for the quarter, compared to $10.5 million for the same period in 2011. The current quarter benefited from lower interest rates from refinancing certain indebtedness, partially offset by higher borrowings under revolving lines of credit.

The tax rate for the quarter was 23.7%, whereas the estimated rate for the balance of the year is about 33%. The lower rate for the quarter is due to the release of certain valuation allowances in foreign jurisdictions.

Business Outlook

Based on current business trends, management expects that revenues and adjusted EBITDA will be higher in the second half of fiscal 2012, compared to the first half. The major drivers for the year will be continued momentum across all business segments, particularly the manufacturing segment, as the new freight car market continues to rebound.

Conference Call

The Greenbrier Companies will host a teleconference to discuss second 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 April 28, 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 40 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 9,100 railcars, and performs management services for approximately 216,000 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 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

(In thousands, unaudited)

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:

Dilutive EPS for the three and six months ended February 29, 2012 was calculated using the more 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 (see footnote 2 above). The second approach supplements the first by including the “if converted” effect of the 2018 Convertible notes issued in 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 6,045 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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