High utilization rates show a demand for rail cars, executives for FreightCar America said during a third-quarter 2022 earnings call Tuesday.
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.
The railcar manufacturer sees elevated scrapping levels and higher leasing rates.
An internal process audit can be easier than you think, ships waiting for berths in San Pedro Bay have finally decreased, and Canada can’t quit with border issues.
High scrapping rates and aging fleets provide support for railcar manufacturing as the company anticipates 2022 financial results that won’t be “obscured by restructuring activities.”
Although customers may have pulled back from ordering in the third quarter, that pullback is temporary and customers will still need new railcars eventually, FreightCar America executives said during Monday’s third-quarter earnings call.
Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Nuvocargo launches more efficient cross-border billing solution; Mexico implements new customs requirement; Freightcar America expands manufacturing plant in Mexico; and Morrison Express Corp. expands in Dallas area.
Rising rail traffic and lower numbers of railcars in storage should benefit FreightCar America, as should anticipated market demand to replace an aging railcar fleet, executives said during Monday’s first-quarter earnings call.
An anticipated increase in North American rail traffic, coupled with FreightCar America’s move of its manufacturing to Mexico, should provide support to the company in 2021, executives said.
FreightCar America makes Terry Rogers its permanent CFO, the Association of American Railroads reports weekly U.S. rail volumes rose 0.3% year-over-year, and The Broe Group updates its progress on a Savannah, Georgia-area industrial park.
