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Railroad Financial Desk Book 2013
In October of each year, we put on our thinking caps and attempt to divine what is coming at us in the New Year—rail equipment and rail finance, that is.
NS shares dip on earnings warning
Norfolk Southern announced late Wednesday that third-quarter 2012 earnings are expected to be in the range of $1.18 to $1.25 per diluted share, "primarily due to volume declines in certain markets and…
GWI prices Wall Street offerings
Genesee & Wyoming Inc (GWR) announced Friday that it has priced its previously announced offering of 3,500,000 shares of Class A common Stock—including 233,966 shares held by its board chairman—at $64.75 per share,…
Trinity Industries buys manufacturing sites
Dallas-based Trinity Industries, Inc. late Thursday announced it will purchase 665,000 square feet of heavy manufacturing capacity from DMI Industries, a subsidiary of Fargo, N.D.-based Otter Tail Corp., for $20…
NYMTA claims millions in storm losses
The New York Metropolitan Transportation Authority announced on Tuesday — the first anniversary of Tropical Storm Irene's visit to MTA's properties — that it continues to work "diligently towards maximizing…
12-month report shows strong railroad earnings
Class I railroads in the 12-month period ended June 30 earned consolidated net income of $11.9 billion on an increase of 0.58% in traffic (1.7 trillion revenue ton miles of freight)…
L.B. Foster takes warranty charge against 2Q earnings
L.B. Foster Co. on Wednesday said its second-quarter 2012 earnings and sales declined relative to the comparable quarter in 2011, but noted a solid backlog for rail product orders and…
FreightCar America 2Q revenue, net income rise
FreightCar America, Inc. on Monday reported second-quarter revenue of $181.2 million and net income of $5.6 million, or 46 cents per diluted share, compared with revenue of $97.6 million and…
Wabtec completes Brazilian acquisition
Wabtec Corp. said Monday it had completed its acquisition of Winco Equipamentos Ferroviarios Ltda., to expand its presence in Brazil. Wabtec expects the transaction to be accretive in the first year.
UP’s Knight among Wall Street Journal’s Best CFOs of 2012
The Wall Street Journal has named Union Pacific Chief Financial Officer Rob Knight to its “Best CFOs of 2012 List.” Knight, CFO since 2004, is the only transportation sector CFO…
ARI 2Q results set record, beat Street
American Railcar Industries, Inc. late Wednesday said its second-quarter consolidated earnings from operations set a new quarterly record of $26.0 million, more than triple the $8.2 million for the second…
RailAmerica 2Q profit rises on higher revenue
RailAmerica, Inc. has reported second-quarter 2012 net income of $11.4 million, or 23 cents per diluted share, compared to net income of $8.7 million, or 17 cents per diluted share, in…
CP earnings up for second quarter and first half
Canadian Pacific Railway announced Wednesday that it earned net income of C$103 million (roughly US$101 million) and diluted earnings per share of 60 Canadian cents, "inclusive of the negative impact of…
Wabtec sets record 2Q earnings and sales
Wabtec Corp. Tuesday said it notched record earnings and sales in its second quarter, as the company increased its earnings guidance for the full year.
2Q railcar orders, deliveries grow, ARCI says
Orders and deliveries of railcars showed strength in the second quarter, according to the Railway Supply Institute's American Railway Car Institute (ARCI) Committee.
GWI set to acquire RailAmerica, Inc.
Greenwich, Conn.-based Genesee & Wyoming Inc. said Monday it has entered into an agreement to acquire Jacksonville, Fla.-based RailAmerica, Inc. The all-cash acquisition, at $27.50 per share, would amount to…
Locomotive orders aid GE Transportation 2Q
GE Transportation reported $1.6 billion in second-quarter 2012 revenue, up 27% year-over-year, and a segment profit for the quarter of $282 million, up 58% from $178 million in the second…
GATX Corp. 2Q income down; still beats Street
GATX Corp. reported second-quarter net income of $23.5 million, or 49 cents per share, down 11% from $26.4 million, or 56 cents per share, it notched in the second quarter…
Union Pacific 2Q beats Street, sets records
Union Pacific Thursday reported second-quarter earnings of $1 billion, or $2.01 per share, up 28% from $785 million in the second quarter of 2011. Earnings, along with revenue of $5.22…
CSX earnings rise, operating ratio falls
CSX Corp. late Tuesday announced second-quarter net earnings of $512 million, or $0.49 per share, versus $506 million, or 46 cents per share, in the same period last year—a 7%…
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