Greenbrier

Greenbrier optimistic for back-half recovery

A photograph of two parked tank cars inside a building.

Railcar manufacturer Greenbrier (NYSE: GBX) is eyeing improving market conditions in the second half of this year, which the company hopes will boost production rates and sales levels at the end of its fiscal year 2021 and into 2022.

Greenbrier on Tuesday reported a net loss of $9.1 million, or 28 cents per share, in the second quarter of its 2021 fiscal year, compared with a net loss of $10 million, or 30 cents per share, in the first quarter of the 2021 fiscal year (see below).

Greenbrier CEO...

https://www.freightwaves.com/news/greenbrier-optimistic-for-back-half-recovery

Greenbrier forges railcar leasing joint venture with Longwood

A photograph of a worker melding equipment. Sparks of fire are coming from the equipment.

Oregon-based railcar manufacturer Greenbrier (NYSE: GBX) is forming a joint venture with transportation asset management firm The Longwood Group to lease railcars produced by Greenbrier.

The venture will be named GBX Leasing. Its formation and funding are anticipated to occur in the first quarter of this year.

Each year, GBX Leasing will acquire roughly $200 million of newly built and leased railcars from Greenbrier. Greenbrier will own about 85% of GBX Leasing; Longwood will own the remainder....

https://www.freightwaves.com/news/greenbrier-forges-railcar-leasing-joint-venture-with-longwood

Career Tracks: TRAC taps industry veteran Forster to lead FYX

TRAC Intermodal has appointed Kenneth Forster as chief executive officer at FYX Fleet Roadside Assistance effective Feb. 8. 

FYX, a TRAC subsidiary, is a provider of emergency fleet services for the intermodal and over-the-road trucking industries. 

Forster most recently was the chief operating officer and president at MODE Transportation in Dallas. Before that, he was the CEO of SunteckTTS, a freight brokerage. He also was the CEO at Velocity Express and AirSage.

Forster succeeds Rodney Goderwis,...

https://www.freightwaves.com/news/career-tracks-trac-taps-industry-veteran-forster-to-lead-fyx

Greenbrier pins hopes on market recovery later this year

A photograph of a train consisting of hopper cars.

Railcar manufacturer Greenbrier (NYSE: GBX) is eyeing a potential market recovery in the second half of 2021, provided that the COVID-19 pandemic doesn’t become worse.

The Oregon-headquartered company shared its outlook as it announced that it sustained a net loss of $10 million, or 30 cents per diluted share, in its fiscal-year first quarter that ended on Nov. 30 (see below).

“Greenbrier’s operating footprint is well suited for the market recovery, expected in the second half of calendar 2021....

https://s29755.pcdn.co/news/greenbrier-pins-hopes-on-market-recovery-later-this-year

Rail manufacturers Wabtec and Greenbrier share plans to fight climate change

Wabtec and Greenbrier shared their sustainability plans.

Reducing greenhouse gas (GHG) emissions and ensuring better energy usage and waste management are some of the short-term and long-term goals that Wabtec Corp. (NYSE: WAB) and Greenbrier Cos. (NYSE: GBX) shared in their 2020 sustainability reports.

“Our position as a global transportation leader gives us a unique perspective on the megatrends that are impacting our customers and other stakeholders, namely: climate change, automation and digitization, and urbanization,” stated Wabtec President and...

https://www.freightwaves.com/news/rail-manufacturers-wabtec-and-greenbrier-share-plans-to-fight-climate-change

Greenbrier expects mid-2021 recovery

A photograph of tank cars parked inside a garage.

The second half of 2021 could be the time frame when the rail industry will “turn the corner” and see not only sustained higher volumes but also more opportunities for railcar lessors and manufacturers, executives with railcar manufacturer Greenbrier (NYSE: GBX) said Friday.

This turnaround will happen provided that the broader economy recovers successfully from the COVID-19 pandemic.

“Economic uncertainty persists across all our end markets, but there are pockets of recovery if longer-term...

https://www.freightwaves.com/news/greenbrier-expects-mid-2021-recovery

Rail stakeholders consider pressing for tax subsidies to scrap railcars

A photograph of two tank cars in a rail yard.

Industry stakeholders are considering options to relieve the railcar supply glut amid the continued downward trend in U.S. carload volumes.

Those options include discussions on whether to push for federal tax incentives that would allow companies to receive tax subsidies for scrapping older and idled railcars, according to a July 29 research note from investment firm Cowen.

“A resuscitation of a long-futile push for railcar scrappage tax subsidies may be underway. While the effort is in its...

https://s29755.pcdn.co/news/rail-stakeholders-consider-pressing-for-tax-subsidies-to-scrap-railcars

Greenbrier scales down and loses weight

A photograph of a tank car.

Railcar manufacturer and lessor Greenbrier (NYSE: GBX) has cut its North American workforce by 40%, limited its production capacity and idled manufacturing at its flagship facility in Oregon, all to survive the storm brought about by the coronavirus pandemic and the recession.

“Greenbrier, in the face of the dual challenges of the pandemic and the economy, has taken swift, decisive and difficult actions. Undoubtedly, more will be demanded of us in the months ahead. Yet I am confident that...

https://www.freightwaves.com/news/greenbrier-scales-down-and-loses-weight

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