Evraz Wants Out of North America
London, U.K.-based but Russian-owned Evraz Plc, one of the largest suppliers to North American railroads of rail steel and wheels, is looking to depart North America, including ending its ownership in steel
Freight Cars
Howard E. Tonn, 84
Howard Edward Tonn, who spent a long and distinguished career in the railway supply industry, has died. Son Matthew Tonn, Chief Commercial Officer at FreightCar America, wrote this tribute to his father:
J.P. Morgan Acquires InStar from Sightway Capital
J.P. Morgan Global Alternatives Global Transportation Group announced on Aug. 10 that it has acquired freight railcar leasing platform InStar Group, LLC (InStar) from Sightway Capital, a Two Sigma private equity business.
FreightCar America 2Q22: ‘Solid Results, Superior Margins, Robust Backlog’ (UPDATED, Cowen Insight)
FreightCar America (FCA) posted a strong second-quarter 2022 and raised its revenue and delivery outlook for fiscal year 2022.
CP 2022-23 Grain Plan: ‘Deliver Outstanding Service’
Since 2018, the Canadian government, through changes in Section 151.01(1) of Canada Transportation Act, has required Canada’s railroads to publish grain movement plans for the forthcoming crop year. Grain is crucial to Canada’s
Wabtec: ‘Strong’ 2Q22 Results, Backlog Grows
Wabtec Corp. delivered “strong” second-quarter 2022 financial results, with year-over-year growth in total sales (up 1.8%, carried by the Freight segment) and backlog (up 7.9%), despite “rising costs, continued supply chain challenges and significant unfavorable foreign currency exchange,” the company reported Aug. 5.
Railway Age: August 2022 Digital Edition On Line
The August 2022 issue of Railway Age is now available digitally, with deep dives into telematics, winter preparedness, and Canada’s Metrolinx.
CN ’22-’23 Grain Plan: ‘We Are Ready’
Since 2018, the Canadian government, through changes in the Canadian Transportation Modernization Act, has required Canada’s railroads to publish Grain Plans for the forthcoming crop year. Grain is crucial to Canada’s economy; as such, its transportation is heavily regulated—much more so than in the U.S. CN has just published its 2022-2023 Grain Plan, which “describes CN’s preparations for moving a western Canadian grain crop that is expected to rebound from last year’s drought-impacted levels,” the railroad said.
ARCI: Railcar Backlog Rising
Newly released data from the Railway Supply Institute (RSI) American Railway Car Institute (ARCI) Committee shows second-quarter 2022 orders are down 13% and deliveries are up 20% sequentially. Total backlog was up 3%, to 47,461, from first-quarter 2022, and up 27% from the same period last year.
Trinity 2Q22: ‘Improvement and Momentum’
Trinity Industries on July 27 reported second-quarter 2022 GAAP and adjusted earnings that “reflect improvement and momentum and reinforce our optimism for the back half of the year,” according to President and CEO Jean Savage.