The Greenbrier Companies, Inc. (GBRX) released its inaugural Environmental, Social and Governance (ESG) report, which includes Greenbrier’s corporate social responsibility accomplishments.
Norfolk Southern on Aug. 14 announced promotions for two senior-level managers, effective Aug. 16: Vanessa Allen Sutherland and Michael Farrell. Allen Sutherland, previously Vice President Law, is now SVP Government Relations and Chief Legal Officer. Farrell, previously Senior Vice President Transportation, is now SVP Operations and Mechanical.
A looming U.S. economic recession—just look at freight rail traffic figures from the past six months—and “cyclical industrial fears” have significantly impacted rail equipment equities, creating opportunities for long-term investors with what Cowen and Company analysts Matt Elkott, Jason Seidl (Railway Age Wall Street Contributing Editor) and Adam Kramer describe as “quality companies with self-forged narratives” like Wabtec, Trinity and Greenbrier.
FINANCIAL EDGE, AUGUST 2019: With a 100-plus-degree F temperature and/or heat index blanket covering half the U.S., the summer doldrums are fully upon us. The time of year lines up with the anniversary of one of the most horrible rail tragedies in recent memory—the Lac-Mégantic derailment in July 2013. The 47 deaths that occurred as a result of that accident are unrecoverable losses for families and communities. Their memory should always serve as a reminder of the importance of safety and the need for best practices throughout the railroad industry.
Wabtec Corp. recently filed a 20,485,156 share offering of GE, and expects to grant the underwriters a 30-day option to purchase up to an additional 2,048,515 shares. Wabtec said it will not receive any proceeds from the sale of the shares in the offering.
Karl Alexy has been named the Associate Administrator for Railroad Safety and Chief Safety Officer of the Federal Railroad Administration (FRA). He was most recently the FRA’s Deputy Associate Administrator for Railroad Safety and had responsibility for the Office of Safety Analysis, the Office of Technical Oversight and the Office of Regional Operations.
In reporting its 2Q19 financials, Wabtec Corp. lowered its sales guidance but raised its 2019 GAAP cash from operations guidance to about $900 million.
The Greenbrier Companies, Inc. (GBRX) recently completed its acquisition of the manufacturing business of American Railcar Industries (ARI) from ITE Management LP (ITE).
The League of Railway Women (LRW) has opened nominations for the 2019 “Outstanding Member of the Year” award. The recipient will be recognized during the LRW Annual Membership Meeting to be held on Tuesday, Sept. 24 at Railway Interchange in Minneapolis. LRW corporate partners and individual members are eligible.
Norfolk Southern (NS) noted that during the first week of July it was able to roll out the railroad’s new TOP21 Precision Scheduled Railroading (PSR) operating plan “in a seamless changeover with minimal impact to customer service and network operations.”