TE Management affiliate American Industrial Transport has completed its acquisition of the rail car assets of SMBC Rail Services.
High numbers of migrant crossings in September disrupted freight rail operations, including Trinity Industries’ and FreightCar America’s ability to send new rail cars into the U.S., executives said on recent earnings calls.
The rail industry continues to streamline operations and realign rail car fleet management via acquisitions.
The Greenbrier Companies, GATX and Wabtec all reported quarterly earnings this week. Among the themes expressed during earnings calls was pervading market uncertainty domestically but an abundance of international opportunities.
Looming rail car retirements and high rates for rail car scrapping — not rail volumes — are driving the rail car market, according to the CEOs of rail car leasing companies and rail equipment manufacturers.
Ohio Gov. Mike DeWine wants President Joe Biden to declare East Palestine a disaster area, while Norfolk Southern calls for rail car owners associated with the Feb. 3 derailment to help pay cleanup costs.
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.
Pent-up demand for railcars will support GATX even as rail service clears up.
The U.S. railcar lessor doesn’t expect the war in Ukraine to impact company profits, but the conflict is affecting operations in Poland.
FreightWaves market expert Mike Baudendistel chats with Harris Ligon, co-founder and CEO of a stealth startup, about how recent growth trends for industrial production in North America will affect rail volumes and equipment availability.
Railcar leasing could be on the upswing for a number of car types, executives for railcar lessor Trinity Industries said during the company’s fourth-quarter 2021 earnings call on Thursday.
The railcar leasing market for 2022 feels more solid than past years, executives said Tuesday during GATX’s fourth-quarter 2021 earnings call.
GATX President and CEO Brian Kenney is retiring, and EVP Bob Lyons will succeed him.
Although macroeconomic factors and lower train speeds support railcar leasing, the growth trend might be choppy as the COVID-19 pandemic and supply chain disruptions still weigh on the market, Trinity Industries and GATX said during their third-quarter 2021 earnings calls.
AskWaves answers why rail industry observers like to keep track of the number of railcars in storage. Hint: It has to do with broader economic trends.
Although market conditions are improving for Trinity Industries (NYSE: TRN), the railcar lessor and rail equipment manufacturer anticipates persistent headwinds through the first half of 2021 as prospective customers take a wait-and-see approach to gauging market demand. “Market uncertainty as it relates to COVID-19 remains the predominant story on the economic and rail industry outlook. […]
Revenue growth in the railcar lessor’s international segment and in its portfolio management program affiliated with Rolls-Royce helped offset losses for its North American segment.
These factors are dampening lease rates and renewal activity, the company said during its second-quarter earnings call on Tuesday.
Railcar manufacturer Greenbrier trimmed its output and headcount in its fiscal year third quarter in response to the COVID-19 pandemic.
The drop in North American rail traffic could push railcar leasing rates lower.
The rail equipment manufacturer and lessor is reducing deliveries of new railcars at the start of 2020, but it’s eyeing an improving market later this year.
The rail equipment manufacturer and lessor managed to increase quarterly revenues despite a slump in North American railcar demand.
