Commentary

Tank railcar market continues to evolve

Financial Edge, September 2018: According to the good people at Railinc (a perennial speaker at the annual Rail Equipment Finance Conference, www.railequipmentfinance.com), as of July 1, 2018, 12,581 tank railcars had been retrofit to the DOT117R standard. In the first seven months of 2018, 5,349 tank railcars were retrofit (an average of 764 per month). If retrofits continue at the same pace for the remainder of the year, the total number of retrofit cars completed in 2018 would be more than double the total number of retrofits completed by the end of 2017.

Greenbrier names Tekorius COO

The Greenbrier Cos. Inc. Executive Vice President and Chief Financial Officer Lorie Tekorius has been appointed EVP and Chief Operating Officer, a newly created position with expanded responsibilities, reporting to Chairman, President and CEO William A. Furman.

GBW Railcar Services uncouples

The Greenbrier Cos. Inc. and Watco Cos. LLC have agreed to discontinue their GBW Railcar Services (GBW) railcar repair joint venture, formed in 2014 by combining their shops into a nationwide network of railcar repair facilities. Under the agreement, the repair shops and employees at each location will return to management by their previous operators.

Greenbrier enters Turkish railway market

The Greenbrier Companies, Inc. has entered the growing freight rail market in Turkey with a majority stake in railcar manufacturer Rayvag Vagon Sanayi ve Ticaret A.S. (Rayvag). Greenbrier believes there are growing opportunities for private operators to access freight rail in Turkey, as the country “offers a key rail transportation connection between Asia and Europe,” and “transcontinental rail shipments through Turkey create a need for European rail standards, favoring Greenbrier’s leadership in design and manufacturing.”

Freight car market: Strength in numbers

Mostly solid quarterly financial results and a spate of new orders for freight car builders show a market that’s stable and growing.

Railcar demand “net neutral”: Cowen survey

The results of Cowen and Company’s 2Q18 Rail Equipment Survey “are mixed and largely neutral on the balance,” reports Cowen analyst Matt Elkott. “Shippers’ level of certainty about ordering railcars increased, but order sizes decreased.”

Cowen: Need a DOT-117? It’ll cost you a grand

Analyst Cowen and Co. this week hosted its quarterly rail equipment conference call with expert panelists across the industry spectrum.

Better car orders, wheels propel Greenbrier quarter

Greenbrier Cos. saw stronger component sales and margins offset flat railcar revenues in the third quarter.

Railcar builder Greenbrier reshapes leadership roles

The Greenbrier Companies, with an eye on the future. announced new corporate officer assignments and promotions.

Greenbrier 1Q: 2018 guidance reaffirmed

In reporting results for its first fiscal quarter (Sept. 1-Nov. 30, 2017), The Greenbrier Cos. reaffirmed its Fiscal Year 2018 guidance. The company expects revenue of $2.4 -$2.6 billion and diluted EPS of $4.00, based on deliveries of 20,000-22,000 units.

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