Cowen and Company recently released its Railcar Industry Forecast, which predicts 21% and 9% declines in deliveries and orders, respectively, this year.
Class I railroad capital expenditures “could decline by high single-digits to mid-teens this year,” Cowen and Company freight transportation analyst Matt Elkott notes in a Jan. 30 report, “but it is not all bad news,” at least for one supplier.
Wabtec Corp. recently inaugurated its Wabtec India Engineering and Technology Center (WITEC) in Bengaluru, which is aimed at supporting growth and innovation.
Wabtec Corp. on Dec. 5 marked delivery of 10 ES30ACi Light Evolution Series locomotives to Egyptian National Railways (ENR) and the Ministry of Transportation (MoT). The delivery marks the first stage in fulfilling Wabtec’s 2017 order and services agreements, originally forged with ENR by GE Transportation.
Wabtec Corp. recently reported its 3Q19 results, which include earnings per diluted share of $0.48 and adjusted earnings per diluted share of $1.03. In addition, Wabtec noted that it generated GAAP cash from operations of $124 million for the quarter and affirmed its 2019 GAAP cash from operations guidance of about $900 million.
Wabtec Corp. recently celebrated its 150th anniversary, as well as the grand opening of its new headquarters in Pittsburgh.
RAILWAY AGE at RAILWAY INTERCHANGE 2019: Wabtec Corp. announced two new offerings aimed at modernizing locomotive fleets at Railway Interchange 2019: An engine upgrade package, FDL Advantage, for its FDL locomotive platform as well as a complete control system replacement, The Modular Control Architecture – Fleet Migration (MCA FM).
Wabtec has partnered with Septentrio, a Belgian manufacturer of GNSS (Global Navigation Satellite System) equipment, to supply GPS receivers for its GoLINC™ Edge locomotive onboard mobile data center platform, “providing positioning, connectivity and data storage, and enhancing Positive Train Control (PTC) with the adoption of even higher-precision positioning technology.”
Reporting on the Cowen and Company Global Transport Conference in Bosto, Managing Director and Railway Age Wall Street Contributing Editor Jason Seidl and analysts Matt Elkott and Adam Kramer offer these observations taken from the conference’s railcar/locomotive builder and Class I railroad panels, with a large trucker and a logistics/LTL company added for deeper perspective:
In a wide-ranging interview with Railway Age in December 2018, BNSF’s then-Executive Chairman Matt Rose had this to say about the future of locomotive propulsion technology: