Railcar manufacturing inquiries and orders appear to have moderated, but the 2024 build outlook remains stable, modestly above replacement demand. Lease rates are holding up well at elevated levels. While locomotive parkings
According to an unsubstantiated late-Jan. 31 Wall Street Journal article, an investor group led by activist Ancora Holdings Group, LLC intends to run a proxy fight and replace Norfolk Southern President and
Chicago-based GATX Corp. has reported fourth-quarter 2023 net income of $66.0 million, or $1.81 per diluted share, compared with fourth-quarter 2022’s $48.4 million, or $1.36 per diluted share. For full-year 2023, net income was $259.2 million, or $7.12 per diluted share, versus the prior year’s $155.9 million, or $4.35 per diluted share.
Our Fourth-Quarter 2023 Rail and Rail Equipment Surveys generated a positive read-through for the rail group, albeit with a mild negative for railcar manufacturing. 4Q23 Rail Survey Expected rate increases were +3.4%,
The Greenbrier Companies’ new railcar backlog “remains robust,” said President and CEO Lorie Tekorius during a report on the manufacturer’s first fiscal quarter ended Nov. 30, 2023. “Our backlog, combined with programmatic
We spent two days in three Southeast cities with Trinity Industries CFO Eric Marchetto and head of Investor Relations Leigh Anne Mann. Management articulated what is arguably a railcar paradigm shift: a
As supply chain, labor and border challenges ease, Trinity Industries’ (TRN) year-to-date choppy execution, despite a backdrop of decidedly favorable supply dynamics, should improve leading to 14% 2024 production growth and accompanying
Leaders in the railroad and logistics market continue to see a challenged intermodal market and holiday peak season. Service has been materially improved on both coasts and the Class Is have plenty of capacity to handle more volume. STB Chairman Oberman announced his departure, a surprise to us and all panelists, leaving the seat open until POTUS names his successor.
Despite “an increasingly volatile macro-economic environment,” Wabtec delivered a “strong” third quarter, as evidenced by increased growth in sales, margin, earnings and operating cash flow, Wabtec President and CEO Rafael Santana said during an Oct. 25 financial presentation. Sales were up 22.5% from the prior-year quarter, driven by the Freight and Transit segments, which experienced double-digit growth.
“During the fiscal year, Greenbrier met the evolving needs of our customers to maintain our market-leading position. At the same time, we advanced our strategy to drive operational improvements and realize margin enhancement,” said Greenbrier President and CEO Lorie L. Tekorius during a report on fourth-quarter 2023 and full year financials.