We hosted freight industry “fireside chats” and presentations on Day 1 of the TD Cowen 16th Annual Global Transportation Conference, being held Sept. 6-7 in Boston. While we heard that the rail
GATX Corporation elevates three senior executives. Also, a new President and CEO takes the throttle at IntelliTrans; and Massachusetts Bay Transportation Authority’s Chief Safety Officer resigns.
“We see continued strong demand globally for the majority of railcar types in our existing fleets,” GATX President and CEO Robert C. Lyons said during a report on second-quarter 2023 financials, which included Rail North America fleet utilization of 99.3% and a renewal success rate of 85.3%.
GATX will report its Lease Price Index (LPI) based on a modified methodology beginning with second-quarter 2023. Weighing in on the move: David Nahass, Railway Age Financial Editor, and Matt Elkott, TD Cowen Transportation OEM Analyst and Vice President Equity Research.
RAILWAY AGE, MAY 2023 ISSUE: Experts say the global rail market could exceed $13 billion in 10 years.
The American Chemistry Council (ACC) has recognized Norfolk Southern (NS), Trinity Industries and GATX for safety and environmental stewardship as part of its 2023 Responsible Care® Awards program. Also, Nisus Corporation has
Chicago-based GATX Corp. has reported first-quarter 2023 net income of $77.4 million, or $2.16 per diluted share, compared with first-quarter 2022’s $75.8 million, or $2.10 per diluted share.
Chicago-based GATX Corp. has reported fourth-quarter 2022 net income from continuing operations of $48.4 million, or $1.36 per diluted share, compared with fourth-quarter 2021’s $61.0 million, or $1.69 per diluted share. For full-year 2022, net income was $155.59 million, or $4.35 per diluted share, versus the prior year’s $143.1 million, or $3.98 per diluted share.
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.
According to Cowen and Company’s recently conducted fourth-quarter 2022 Rail Equipment and Rail Shipper surveys, the demand for railcars remains strong, and rail-shipping pricing expectations ticked up sequentially. Details follow, plus insights on the Class I railroads, ahead of earnings.