GATX, the company that owned one of the railcars in a 2023 Ohio train derailment, will not have to pay a portion of railroad Norfolk Southern’s $600 million settlement with residents.
After a trial that lasted more than three weeks, a federal jury in Youngstown, Ohio, on Wednesday found GATX Corp. not liable in the settlement for damages caused by the incident in East Palestine.
“GATX is pleased with the trial outcome, which affirms what we have known for some time: Norfolk Southern alone is...
El contexto del vagón y la locomotora GATX reportaron 2024 ingresos netos del cuarto trimestre de $ 76.5 millones o $ 2.10 por acción diluida, en comparación con el ingreso neto de $ 66 millones o $ 1.81 por acción diluida en el cuarto trimestre de 2023. GATX con sede en Chicago (NYSE: Gatx) Dicha...
Railcar and locomotive lessor GATX reported 2024 fourth-quarter net income of $76.5 million or $2.10 per diluted share, compared to net income of $66 million or $1.81 per diluted share in the fourth quarter of 2023.
Chicago-based GATX (NYSE: GATX) said utilization of its Rail North America unit’s wholly owned fleet, comprising approximately 111,400 cars, excluding 8,400 boxcars, was 99.1% at the end of the fourth quarter, compared to 99.3% at the end of the prior quarter and 99.3% at 2023...
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How to maintain business amid uncertain macroeconomic conditions was one of the prevalent themes...
https://www.freightwaves.com/news/macro-uncertainties-loom-for-rail-equipment-manufacturers
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...
The state of Ohio is asking President Joe Biden to declare East Palestine the site of a major disaster or emergency because of uncertainty over how the health of area residents will be impacted in the future.
A Norfolk Southern train derailed in East Palestine on Feb. 3. Several days following the derailment, NS and state and local officials decided to vent a tank car carrying vinyl chloride over concern that the car was in danger of exploding.
Ohio’s request comes as NS (NYSE: NSC) has filed a...
https://www.freightwaves.com/news/ohio-presses-biden-for-disaster-relief-for-east-palestine
Rail equipment manufacturers and rail car lessors see 2023 as a year of opportunities despite lower North American rail volumes in the first quarter. Here’s what officials said about the rail car market during recent earnings calls.
Trinity Industries upbeat on rail car leasing marketTrinity Industries is optimistic that pent-up demand to move volumes will help support rail car leasing in 2023, even though U.S. rail volumes are down year over year. That decline, though, is partly due to...
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Despite macroeconomic and geopolitical uncertainties domestically and abroad, executives with rail...
https://www.freightwaves.com/news/gatx-optimistic-about-2023-despite-macroeconomic-uncertainties
Trinity Rail Group and GATX have entered into a $1.8 billion long-term railcar supply agreement, both parties announced Monday.
The agreement calls for Trinity Rail Group, a subsidiary of Trinity Industries (NYSE: TRN), to supply railcar lessor GATX (NYSE: GATX) with a mix of 15,000 newly built tank and freight railcars over six years.
Railcar manufacturer and lessor Trinity, headquartered in Dallas, will deliver 6,000 tank cars at a rate of 1,200 cars each year between 2024 and 2028, and a mix...
https://www.freightwaves.com/news/trinity-gatx-reach-18b-railcar-supply-agreement
Rail volume growth in 2023 could still benefit railcar manufacturers and lessors because of the pent-up demand for rail service, GATX executives said during an earnings call to discuss second-quarter 2022 financial results.
“We really feel like there is a lot of freight on the sidelines right now that wants to go by rail, and we feel that ultimately railroad service is holding that back,” Paul Titterton, president of GATX Rail North America, said Thursday. “So, in past situations where we had...
https://www.freightwaves.com/news/tight-railcar-market-benefits-lessors-like-gatx-executives-say