Exhibit 99.1

Greenbrier Reports Strong Fiscal Third Quarter Financial Results

~ Posts EPS of $0.61; Backlog of 11,500 units valued at $1.14 billion ~

~ New tank car production line planned to address growing demand ~

Lake Oswego, Oregon, June 28, 2012 – The Greenbrier Companies (NYSE: GBX) today reported results for its fiscal third quarter ended May 31, 2012.

Third Quarter Highlights

Discussion of Quarterly Results and Outlook

William A. Furman, president and chief executive officer, said “I am pleased with our strong quarterly results. Revenue and gross margin grew in each of our business segments as compared to the second quarter of this year. We continue to benefit from efficiencies of operating at higher volumes, particularly in our manufacturing segment where we delivered a record 4,500 railcars this quarter. Approximately 800 of these deliveries were new leased railcars that were sold to third parties as part of our enhanced lease syndication activities. As compared to the second quarter of this year, manufacturing gross margin grew by over $10 million, and gross margin as a percentage of revenue grew to 10.8%, as compared to 9.2%. Our managed fleet also grew by 2,000 units.”

Furman added, “The value of our backlog increased for the third consecutive quarter. We continue to see demand across multiple railcar types, and continue to diversify the product mix in our backlog, which now includes seven different railcar types in North America. Small-cubed covered hopper cars used to carry sand for shale drilling activity comprised 18% of our backlog value as of May 31, 2012. As a result of increased demand for tank cars, we are increasing tank car production rates, and plan to open a second tank car line in fiscal 2013. We also received two barge orders valued at $25 million during the quarter, and believe that marine orders for delivery in 2013 will continue to grow.”

Furman concluded, “We continue to focus on working capital management and free cashflow. During the quarter, we generated cash provided by operating activities of over $61 million, and reduced net debt by $35 million.”

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 third quarter was $364.9 million, compared to $173.5 million in the third fiscal quarter of 2011. The revenue increase was primarily due to higher railcar deliveries and higher per unit average sales prices. Deliveries during the quarter totaled 4,500 units, compared to 2,200 units in the same period last year. Manufacturing gross margin for the third quarter was 10.8% of revenue, compared to 9.2% of revenue in the second quarter of this year, and 8.5% in the third quarter of 2011. The increase in gross margin from the third quarter of 2011 is primarily attributable to efficiencies gained by operating at higher production rates, more favorable pricing and change in sales mix.

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 third quarter was $125.1 million, compared to $126.3 million in the same period last year. The slight decline is primarily the result of lower demand for wheel set replacements offset by higher refurbishment and parts demand. Wheel volumes were down due to the unseasonably warm winter in the current year; cold weather typically causes wheel sets to wear at a faster rate. In addition, an industry-wide decline in coal car loadings contributed to decreased wheel demand, as coal cars are higher mileage railcars. Gross margin for

the Wheel Services, Refurbishment & Parts segment was 10.8% of revenue, compared to 12.0% of revenue in the third quarter of 2011, and 11.1% of revenue in the second quarter of this year. The decrease in gross margin from the third quarter of 2011 was primarily a result of a change in sales mix, a decrease in scrap metal pricing, and costs and inefficiencies associated with replacing certain wheel sets produced at our Mexico City wheel shop which do not conform to America Association of Railroads mounting standards.

The Leasing & Services segment includes results from both Greenbrier’s own lease fleet of approximately 9,000 railcars, as well as from fleet management services the Company provides for approximately 218,000 railcars owned by third parties. Revenue for this segment was $17.7 million for the quarter, compared to $17.5 million in the same quarter last year. Leasing & Services gross margin for the quarter was 50.2% of revenue, compared to 48.6% of revenue for the second quarter of this year, and 47.0% of revenue in the third quarter of 2011. The increase in both revenue and gross margin, compared to the third quarter of 2011, were primarily a result of higher rents earned on a greater number of leased railcars for syndication. Lease fleet utilization as of the end of the quarter was 95.5%, compared to 97.3% as of February 29, 2012, and 96.8% as of May 31, 2011,.

Gains on disposition of equipment in the current quarter were $2.6 million, compared to $1.7 million in the third quarter of 2011.

Selling and administrative costs were $28.8 million or 5.7% of revenue for the quarter, versus $22.6 million or 7.1% of revenue for the same quarter last year. The increase is primarily due to an increase in employee related costs, including incentive-based compensation. In addition, revenue-based fees paid to our joint venture partner in Mexico increased due to higher activity levels. We also incurred nonrecurring legal and audit fees associated with the structuring of a leased railcar syndication transaction.

Interest and foreign exchange expense was $6.6 million in the third quarter, compared to $9.8 million for the same period in 2011. The third quarter benefited from lower interest rates due to refinancing activities completed in the prior comparable period.

The tax rate for the quarter was 29.7%; the estimated tax rate for the balance of the year is about 33%. The lower tax rate for the quarter was due to discrete tax items.

Business Outlook

Based on current business trends, management anticipates that revenue, adjusted EBITDA and earnings per share will be higher in the fourth quarter of 2012, compared to the fourth quarter of 2011. The company expects to deliver approximately 4,000 new railcars in the fourth quarter. The lower anticipated deliveries in the fourth quarter, as compared to the third quarter, are due to line changeovers, changes in product mix, and lower syndications of leased railcars.

Conference Call

Greenbrier will host a teleconference to discuss third quarter results. In conjunction with this news release, Greenbrier has posted a supplemental earnings presentation to our website. Teleconference details are as follows:

Please access the site 10 minutes prior to the start time. Following the call, a webcast replay will be available for 30 days. Telephone replay will be available through July 14, 2012 at 1-402-998-0083.

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 9,000 railcars, and performs management services for approximately 218,000 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 loss 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.

CONSOLIDATED BALANCE SHEETS

(In thousands, unaudited)

THE GREENBRIER COMPANIES, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts, unaudited)

THE GREENBRIER COMPANIES, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands, unaudited)

THE GREENBRIER COMPANIES, INC.

SUPPLEMENTAL INFORMATION

Quarterly Results of Operations (Unaudited)

Operating results by quarter for 2012 and 2011 are as follows:

THE GREENBRIER COMPANIES, INC.

SUPPLEMENTAL INFORMATION

Quarterly Results of Operations (Unaudited)

THE GREENBRIER COMPANIES, INC.

SUPPLEMENTAL INFORMATION

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

(In thousands, unaudited)

THE GREENBRIER COMPANIES, INC.

SUPPLEMENTAL INFORMATION

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 nine months ended May 31, 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 2018 convertible notes

Weighted average diluted common shares outstanding

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