Wabtec “finished a strong 2022 as evidenced by higher sales, margin expansion and increased earnings,” said President and CEO Rafael Santana, who noted during a Feb. 15 earnings report that the company was able to deliver “despite a volatile environment that included significant headwinds from the impact of Russia sanctions, negative foreign currency exchange, supply chain constraints and higher input costs.”
Cowen and Company examines whether Caterpillar, Inc. could explore strategic alternatives for its transportation business, or at least the rail piece. An enterprise value-to-revenue multiple of 2.5x-2.75x may not be unreasonable, putting the transportation business value at approximately $12 billion.
Tightness across a wide array of freight cars has continued, and with supply chain challenges limiting the industry’s ability to produce to demand, the lease rate momentum looks sustainable, according to expert panelists at Cowen and Company’s Jan. 19 webinar on the current state and outlook of the rail, locomotive, and railcar leasing and manufacturing markets.
Norfolk Southern’s (NS) growth strategy was laid out at its Dec. 6 Investor Day, the first under new President and CEO Alan Shaw. Not a “grow-at-all-cost strategy,” Shaw said the Class I will balance three key elements: “Reliable and resilient service; continuous productivity improvement; and smart and sustainable growth.” Cowen and Company and Susquehanna Financial Group (SFG) weigh in.
Wabtec “delivered a strong quarterly performance,” President and CEO Rafael Santana said during a Nov. 1 financial report. Third-quarter 2022 sales were up 9.1% from the prior-year period, which the company attributed to “significantly higher Freight segment sales, partially offset by lower Transit segment sales.”
Greenbrier on Oct. 27 reported fourth-quarter 2022 results, which marked a “strong end” to its fiscal year and “demonstrates the value of its diverse business activities,” said President and CEO Lorie Tekorius.
“Throughout the year, we have said 2022 would be a tale of two halves and that is exactly how it is unfolding,” Canadian Pacific (CP) President and CEO Keith Creel said on Oct. 26. “The third quarter saw strong demand in potash and intermodal that we anticipated, and CP was well-resourced to handle the volume increases we have seen.”
Through its “robust hiring initiatives and the launch and execution of its new operating plan, TOP|SPG,” Norfolk Southern (NS) achieved “record financial results and improved service levels for its customers” in third-quarter 2022, said President and CEO Alan Shaw during an Oct. 26 announcement.
Trinity Industries on Oct. 25 reported third-quarter 2022 GAAP and adjusted earnings that “show progress and improvement in our business,” according to President and CEO Jean Savage. “We continue to believe we will perform well in the coming years given our robust backlog and the favorable re-pricing environment for lease rates.”
Union Pacific (UP) “made positive strides in the third quarter to increase network fluidity and better meet customer demand,” UP Chairman, President and CEO Lance Fritz said during an Oct. 20 earnings report.
