FreightCar America

FreightCar America, Trinity Industries take hit from migrant crossings

Freight traffic disruptions at the U.S.-Mexico border due to high numbers of daily migrant crossings — as well as responses by state and federal officials to those crossings — prompted rail car manufacturer FreightCar America and rail car lessor and manufacturer Trinity Industries to lower their 2023 earnings guidance, executives from both companies said during recent earnings calls.

If the disruptions continue, expect impacts to fourth-quarter results as well, according to Trinity Industries...

https://www.freightwaves.com/news/freightcar-america-trinity-industries-take-hit-from-migrant-crossings

Pending rail car retirements, high scrap rates tighten equipment market

Despite lingering macroeconomic uncertainties, rail equipment manufacturers are upbeat about the rest of 2023 and early 2024 based on factors that appear to be supporting the market for rail car leasing and the production of rail cars or rail equipment, according to comments from various company executives during the recent second-quarter earnings season.

Those factors include the anticipated retirement of different types of rail cars and high scrapping rates for rail cars. Inquiries to lease...

https://www.freightwaves.com/news/pending-rail-car-retirements-high-scrap-rates-tighten-equipment-market

FreightCar America sees potential market upside for tank cars

FreightCar America is ready to handle any increase in tank car demand should federal regulators speed up the timeline to replace or retrofit DOT-111 tank cars to DOT-117 cars, company executives said during the rail car manufacturer’s first-quarter 2023 earnings call.

Regulators are considering hastening the timeline to fully implement DOT-117 tank cars into the U.S. rail car pool from 2029 to 2025 in light of rail safety concerns following the Feb. 3 derailment of a Norfolk Southern train in...

https://www.freightwaves.com/news/freightcar-america-sees-potential-market-upside-for-tank-cars

FreightCar America sees benefit in tight rail car supply, better rail service

A photograph of a rail yard. A city is in the distance.

Although macroeconomic uncertainties loom and higher inflation could be keeping some would-be customers at bay, rail car manufacturer FreightCar America is bullish on the second half of 2022.

“I would like to emphasize just how optimistic we are about the future,” President and CEO Jim Meyer said in prepared remarks during FreightCar America’s second-quarter earnings call Tuesday morning. “At the same time, I would like to emphasize that we are also realistic about the potential temporary...

https://www.freightwaves.com/news/freightcar-america-sees-benefit-in-tight-rail-car-supply-better-rail-service

FreightCar America sees opportunity in continued high scrapping levels in 2022

A photograph of a railcar in a yard.

Continued elevated levels for scrapping railcars are likely to persist in 2022, which should benefit railcar manufacturer FreightCar America this year, company executives said during the company’s fourth-quarter 2021 earnings call.

“Since 2020, railcar annual scrapping figures have outpaced deliveries and historical replacement demand as customers retire older and less efficient railcar assets,” Matthew Tonn, FreightCar America (NASDAQ: RAIL) chief commercial officer, told investors on Tuesday....

https://www.freightwaves.com/news/freightcar-america-sees-opportunity-in-continued-high-scrapping-levels-in-2022

FreightCar America upbeat on reaching profitability

Favorable market conditions for railcar manufacturing could help FreightCar America return to profitability.

The Chicago-headquartered railcar manufacturer said Tuesday it expects to be profitable on an adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) basis for 2022.

The potential milestone comes after FreightCar America (NASDAQ: RAIL) closed its manufacturing locations in Alabama and Virginia in 2019 and 2020 and moved all its manufacturing operations to Mexico to...

https://www.freightwaves.com/news/freightcar-america-upbeat-on-reaching-profitability

FreightCar America expects pent-up demand pressure to bolster orders

A photograph of a rail yard. A city is in the distance.

FreightCar America expects railcar orders to grow as the year moves into 2022 amid pent-up demand pressures to purchase new railcars, executives said during the company’s third-quarter 2021 earnings call on Monday. This demand release follows a third quarter in which customers seemed to halt their orders temporarily in order to avoid inflationary costs and higher steel prices, executives said.

There is some hesitation from would-be buyers to commit to purchasing railcars amid significantly...

https://www.freightwaves.com/news/freightcar-america-expects-pent-up-demand-pressure-to-bolster-orders

Borderlands: Nuvocargo launches more efficient cross-border billing solution

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.

Nuvocargo launches more efficient cross-border billing solution

Cross-border logistics and shipping between the United States and Mexico can be a lucrative...

https://www.freightwaves.com/news/nuvocargo-launches-more-efficient-cross-border-billing-solution

FreightCar America eyes improving market conditions

A photograph of two railcars at a rail yard.

With one quarter in 2021 under its belt, railcar manufacturer FreightCar America believes its new manufacturing footprint, coupled with positive market conditions, will make 2021 a good year for the company.

“The year 2021 is about building momentum in support of expansion and profitable growth as we move forward. We’re very pleased with how the new operation is performing … We believe that we are in a good position to start winning,” FreightCar America President and CEO Jim Meyer said during...

https://www.freightwaves.com/news/freightcar-america-eyes-improving-market-conditions

FreightCar America eyes improving opportunities in 2021

A photograph of a rail yard. A city is in the distance.

FreightCar America (NASDAQ: RAIL) is looking forward to the opportunities that 2021 has to offer, now that it has moved all of its manufacturing operations from Alabama to Mexico.

That opportunity includes shifting to a positive balance sheet. The company sustained a net loss of $14.4 million in the fourth quarter of 2020 compared with a net loss of $9.5 million in the fourth quarter of 2019 (see below).

“We believe that we are fundamentally transforming FreightCar America’s ability to compete...

https://s29755.pcdn.co/news/freightcar-america-eyes-improving-opportunities-in-2021

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