Railway Age is honoring 20 “Fast Trackers” from a pool of more than 100 strong nominations for this year’s 20 Under 40 awards program.
Rail shippers in fourth-quarter 2020 expected price increases of 3.2% (up 10bps sequentially), and their sub-group of railcar buyers raised order expectations modestly, according to two surveys conducted by Cowen and Company analysts Jason H. Seidl (Managing Director and Railway Age Wall Street Contributing Editor), Matt Elkott and Elliot Alper.
Staring into the 2021 abyss, the outlook for rail-hauled chemical traffic looks like a mixed weather forecast: “Early morning fog, changing to overcast skies, with a high-pressure system moving in later for sunny skies.” The fundamental assumption is that the COVID-19 pandemic will gradually abate as immunization shots take hold.
The Greenbrier Companies, Inc. (GBX), in its first fiscal quarter ended Nov. 30, 2020, reported a net loss of $10 million, attributable to the company, in what continues to be a “challenging market environment.” GBX noted it has been successful in maintaining cash flow and liquidity—“essential components” of its operating strategy—and its diversified $2.35 billion new railcar backlog of 23,900 units—including orders for 2,900 railcars in the quarter, valued at $260 million—“provides a baseload of activity as we gain greater visibility into customer needs as the year unfolds.”
Railway Age’s January 2021 issue is now available digitally. It features a cover profile of Canadian Pacific President and CEO Keith Creel—the 58th annual recipient of Railway Age’s Railroader of the Year Award.
FINANCIAL EDGE, RAILWAY AGE DECEMBER 2020 ISSUE (updated): On the final day of what might be the most unusual year in the lives of most Railway Age readers, It’s clear that 2020 was the year of the unexpected. While many people may have thought that a pandemic was not out of the question (in 2019, the U.S. government conducted a pandemic simulation, the “Crimson Contagion,” which predicted more than 500,000 deaths), the U.S. was unprepared for the voracity of the COVID-19 virus and the intensity of the shutdown resulting from its impacts.
2021 Freight Rail and Equipment Market Outlook, with David Nahass, Jason Seidl and Matt Elkott: RAIL GROUP ON AIR PODCAST
Railroad Financial Corp. President and Railway Age Financial Editor David Nahass; Cowen and Company Managing Director and Railway Age Wall Street Contributing Editor Jason Seidl; and Cowen and Company Transportation Equipment Analyst
At Cowen and Company, we are revising our transportation OEM and machinery earnings estimates for fourth-quarter 2020 and 2021, and introducing our 2022 estimates; updating our North American Class 8 production forecast; and fine-tuning our railcar supply demand model. What are we seeing? Gradually improving supply-side dynamics.
RailSolutions, LLC has promoted Senior Vice President Mike Mahoney to President, effective Jan. 1, 2021. Mahoney, who succeeds Rob Blankemeyer, will assume responsibility for the company’s day-to-day operations. Blankemeyer will remain with RailSolutions as Senior Vice President.
At Cowen and Company, we expect North American railcar demand to recover in 2021. One of the best-positioned suppliers? The Greenbrier Companies (GBX), with more than a 40% manufacturing share following the acquisition of ARI. Railcar markets in Europe and Brazil are also improving. All of this plus the cost-cutting measures GBX has taken make it our top 2021 pick.