Cowen & Company

• November 23, 2021
• Class I

Cowen Take on KCS: Mexican Volumes Up, Eyes on Labor

Cowen & Company hosted the Kansas City Southern (KCS) executive team in New York City last week for investor meetings. While challenges across
Mexico continue to hinder railroad operations, discussions with regulatory authorities appear to be moving in the right direction.

• July 06, 2021
• Class I

The Cowen Take on Class I 2Q21

At Cowen and Company, we are adjusting our rail models in advance of second-quarter earnings reports due later this month from the Class I railroads. The models reflect carloads in the quarter, mix, fuel, FX (foreign exchange) and cost implications as the supply chain remains tight.

• June 16, 2021
• Class I

Suds with Seidl: ‘Railroad Happy Hour’ Offers Bullish Outlook

Trends across the rail industry appear positive, although ongoing congestion is an issue for inland ramps, according to leaders at our recent “Suds with Seidl” event.