Ever check out the list prices of brand-new main line diesel-electric locomotives? They are expensive, about $3 million each. Are you mesmerized by the horsepower quoted? Nah! You want tractive effort. Hauling heavy, long freight trains is the North American business model. You need to purchase tractive effort.
The Federal Transit Administration (FTA) announced a total of $1.68 billion in grants for transit agencies around the country.
The Greenbrier Companies (GBX) has amended its 50/50 joint venture agreement with Grupo Industrial Monclova, S.A. De C.V. (GIMSA), its manufacturing partner at Greenbrier GIMSA facilities in Monclova, Mexico. This and other measures aim to help GBX achieve its goal of $1 billion in total liquidity.
RAILWAY AGE, MAY 2020 ISSUE: Railinc’s analysis of the North American diesel-electric locomotive fleet reveals that the size of the total fleet decreased slightly in 2019. The decrease reflects an excess supply
of locomotives due to industry utilization improvements. Detailed analysis reveals the following trends:
FINANCIAL EDGE, RAILWAY AGE MAY 2020 ISSUE: Too much ink (printer ink in the modern era) has already been spilt trying to find an angle on the COVID-19 pandemic and its impact on the national and global economy, the consumer, the business segments most impacted by the terrible crisis (think aerospace, restaurants, the arts), the front line healthcare workers risking their lives daily and the retail, delivery and factory workers keeping aspects of life in the United States (e.g. food supply) relatively normal.
Trinity Industries announced first-quarter 2020 total company revenues of $615.2 million; quarterly earnings from continuing operations per common diluted share (EPS) of $1.33, an increase of $1.09 year-over-year; and quarterly adjusted EPS of $0.11 and excludes $0.04 per share related to restructuring activities, $0.03 per share related to the early redemption of high coupon debt, and $1.29 per share related to the effects of the Coronavirus Aid, Relief, and Economic Security Act of 2020 (CARES Act).
GATX Corp. reported first-quarter 2020 net income of $46.3 million, or $1.31 per diluted share, compared to net income of $41.5 million, or $1.12 per diluted share, in the first quarter of 2019.
Railway Supply Institute President Mike O’Malley and Vice President Government and Public Affairs Nicole Brewin cover a wide range of topics with Railway Age Editor-in-Chief William C. Vantuono. Among them: The state
Railway Age has partnered with freight transportation intelligence provider FreightWaves to expand its coverage of logistics and near-time analytics. FreightWaves is sponsoring a new channel, “Freight Forecasting,” on www.railwayage.com.
“Storing oil in tank cars may be theoretically possible, but logistical, economic and regulatory hurdles make it unviable. Railcar lease rates could be 25-30% below 2019. Manufacturing inquiries have continued, but prospective buyers are in no rush to pull the trigger.” Those are the key takeaways from a conference call moderated by Cowen and Company Freight Transportation Analyst Matt Elkott. Among the industry experts participating were Railroad Financial Corp. President and Railway Age Financial Editor David Nahass, National Steel Car Senior Vice President Marketing and Sales Bob Pickel, and Oliver Wyman Vice President Jason Kuehn.