Despite economic headwinds, the rail car manufacturing market will find support in the second half of 2022 amid tight rail car supply and improving rail service metrics, FreightCar America executives said on an earnings call.
Despite lower volumes in BNSF’s consumer, agricultural, industrial and coal segments, the railroad’s freight revenue rose to nearly $6.3 billion on higher revenues per carload.
Improvements in rail service and “unparking” locomotives are market signals that could bode well for Wabtec in the back half of this year.
Even though macroeconomic uncertainties lie ahead, Hub Group expects to find support in the medium term through improving rail service, market conditions that encourage more conversions to rail and the diversification of its business, executives said on Wednesday’s earnings call.
Shippers want to move more goods via rail, and they will do so once rail service improves. This will ultimately benefit lessors like Trinity Industries, CEO Jean Savage told investors on a recent earnings call.
Canadian Pacific executives on the company’s second-quarter 2022 earnings call discussed precision scheduled railroading, synergies with Kansas City Southern and intermodal strength in the second half of the year.
Converting two flat switching yards back to hump yards and adjusting train schedules are broader initiatives that aim to serve customers better, Norfolk Southern executives said during the company’s second-quarter 2022 earnings call Wednesday.
Anticipated strength in domestic intermodal and higher grain volumes will support CN in the back half of this year, company executives said during the Canadian railway’s second-quarter 2022 earnings call.
Pent-up demand for railcars will support GATX even as rail service clears up.
Union Pacific executives said it wasn’t precision scheduled railroading but running the network too tightly that brought on the service issues.
An unanticipated high attrition rate among new hires has affected the pace of CSX’s planned operational recovery, according to executives on the railroad’s second-quarter earnings call.
The Western European and North American railcar markets could benefit from shifting global markets due to the invasion of Ukraine, executives said during Greenbrier’s second fiscal quarter earnings call.
A 26% gain in revenues helped boost BNSF’s net profits in the second quarter of 2021 to $1.5 billion.
The trucking industry’s issues with driver availability along with customers’ commitment to sustainability are factors that could support growth for intermodal beyond 2021 and 2022, executives said during Hub Group’s earnings call on Thursday.
Market alliances that seek to convert truck traffic east and west of the Mississippi River could be a way for Canadian Pacific to grow its network, executives said during the second-quarter 2021 earnings call Wednesday.
Supply chain congestion is more about issues with throughput among various stakeholders and less about Norfolk Southern’s ability to handle volumes, executives said during NS’ second-quarter 2021 earnings call Wednesday.
CP’s second-quarter 2021 revenue totaled $1.64 billion in U.S. dollars.
A 24% increase in operating revenue contributed to record second-quarter net income of $819 million for Norfolk Southern.
Supply chain disruptions for international intermodal are likely to last through the end of the year, Union Pacific President and CEO Lance Fritz said during the second-quarter earnings call on Thursday.
CSX wants to come up with long-lasting strategies to hire talent so that it can ensure that it can grow capacity in the future, said CSX President and CEO Jim Foote during the company’s second-quarter 2021 earnings call on Wednesday.
Union Pacific’s second-quarter 2021 net income grew 59% from a year ago to $1.8 billion amid a 30% gain in operating revenue.
The sale of property rights of CSX-owned line segments in Virginia more than doubled CSX’s net earnings for the second quarter of 2021 compared with a year ago. Net profit was $1.17 billion in the second quarter.
Customers’ push to manage inventories will support rail volumes in the second half of the year, even though potential headwinds in the form of wildfires, supply chain congestion and COVID-19 loom.
Higher revenues propelled CN’s adjusted net income for the second quarter to grow by 16.5% to CA$1.06 billion.
Despite headwinds, KCS thinks it can still achieve double-digit revenue growth for 2021.
The $700 million fee to terminate a merger agreement with Canadian Pacific dented KCS’ second-quarter net income. But revenues were up 37% year-over-year.
The COVID-19 pandemic dented BNSF’s profits and lowered rail volumes in the second quarter.
The railroad aims to take market share away from trucks through expanded offerings in the Southwestern and Southeastern U.S.
Second-quarter rail volumes fall by 26%.
Trinity took a $369 million impairment charge because leasing small cube covered hoppers exposed the railcar lessor to the frac sand market.
The western U.S. railroad looks to take more market share away from trucks.
Coronavirus pandemic and economic uncertainty weigh on UP’s second-quarter earnings.
Volumes have been recovering swiftly, but headwinds make it difficult to predict when pre-coronavirus levels will fully return.
The COVID-19 pandemic and a slumping economy dent CSX’s earnings.
Despite a 12% drawdown in volumes, CP reached a record second-quarter operating ratio of 57%.
The COVID-19 pandemic dampened second-quarter revenue by 9%.
The expectation that North American consumers will help drive intermodal traffic comes as the railway’s second-quarter volumes were hit by the coronavirus pandemic.
Unadjusted net income for the second quarter falls nearly 60% from the same period in 2019.
These factors are dampening lease rates and renewal activity, the company said during its second-quarter earnings call on Tuesday.
The railroad plans to keep operational changes such as reduced train starts and longer trains even as volumes rebound.
The railroad experienced a 23% dip in revenue as carload volumes fell 21%.
Company cites sharp, pandemic-induced drop in rail volumes.
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Genesee and Wyoming sees second-quarter operating income decline amid lower freight revenues from its Australian and European operations and flat year-over-year revenue from its North American operations.
Second quarter revenue for BNSF rose 0.3 percent despite lower volumes for agricultural products, consumer products and industrial products.
USA Truck blames a softer freight environment, declining spot rates and unrealized bid awards for its lower-than-expected second-quarter results.
Despite uncertain economic conditions, Trinity Industries (NYSE: TRN) expects rail volumes to improve in the second half of the year, based on “healthy” inquiry levels for its railcars, company leaders said during TRN’s second quarter earnings call on July 25.
Total company revenue for Trinity Industries (NYSE: TRN) grew 16 percent to $736 million in the second quarter amid revenue gains for its rail product group.
Norfolk Southern (NYSE: NSC) expects continued operational changes will help boost profits and lower operating ratios in the second half of the year.
There is some uncertainty for commodities such as grain, lumber, coal and crude, but Canadian National (NYSE: CNI) leaders are “cautiously optimistic” about volumes and how the company might perform in the second half of the year.
Norfolk Southern’s (NYSE: NSC) second quarter net profit rose slightly as the company prepared to launch the next phase in its new precision scheduled railroading (PSR) operating model. Net profit […]
Canadian National (NYSE: CNI) reported increases in net profit and revenue in the second quarter of 2019, with its acquisition of trucking and transportation provider TransX providing both higher revenue and costs.
While investing in the North American railcar market is risky right now because the market is so uncertain, Europe and India are among the places where there are “attractive’ opportunities to invest in railcars, officials with railcar lessor GATX said on the company’s second quarter earnings call on July 17.
The railroad said second quarter revenue totaled $714 million, a 5 percent increase from $682 million for the same period in 2018.
Marten Transport posted its best-ever second quarter operating revenue and income in the company’s 74-year history, the company said in its July 18 earnings release.
“You’ve heard me say this many, many times – we’re not going to use the lack of volume as an excuse not to make aggressive achievements on our productivity,” Union Pacific chief financial officer Rob Knight said.
Union Pacific set an all-time record for its operating ratio in the second quarter despite lower freight volumes and a decline in freight revenue.
This is the fourth consecutive quarter IBM has reported falling revenues.
“The present economic backdrop is one of the most puzzling I have experienced in my career..”
Despite a drop in profit in the second quarter, CSX’s (NYSE: CSX) operating ratio set a company record.
Canadian Pacific’s (NYSE: CP) second quarter net income rose 66 percent amid a 13 percent increase in company revenue, the railroad reported on July 15. CP’s financials are reported in Canadian dollars, except for earnings per share.
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