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...
During earnings season, railcar manufacturers will discuss the size of their railcar backlog. What are backlogs and why are they important? This AskWaves article will look at this topic.
What is a railcar backlog?A backlog is simply the orders for railcars that leasing companies, railroads and private businesses such as chemical companies and banks place with railcar manufacturers that have not yet been delivered by the manufacturers.
As a manufacturer delivers an order of railcars, the backlog...
https://www.freightwaves.com/news/how-railcar-backlogs-reflect-market-dynamics
Rail equipment manufacturers, suppliers and industry observers will talk about the number of railcars in storage being up or down. But why is that figure important?
Knowing how many railcars are in storage is significant because that figure helps observers understand network capacity in relation to the broader economy. Industry participants also look at the number of railcars in storage by railcar type to gauge expectations for where railcar lease rates are heading and the volume of orders that...
https://www.freightwaves.com/news/why-is-the-number-of-railcars-in-storage-important
A nearly fivefold increase in steel prices is driving railcar owners to scrap older railcars, a trend that could continue into 2022, according to railcar manufacturer Greenbrier.
Jay Carter, strategic marketing manager for Greenbrier (NYSE: GBX) estimates that steel prices have risen in recent months from $400 per short ton to $1,900, prompting railcar owners to scrap outdated equipment to take advantage of higher scrap metal pricing.
The metal can be recycled to manufacture steel, either...
Greenbrier’s Q4 railcar orders total 5,500Railcar manufacturer Greenbrier has received orders worth over $530 million for 5,500 railcars.
The Lake Oswego, Oregon-headquartered company said the orders are for a broad range of railcar types, including intermodal, boxcars, tanks, covered hoppers and gondolas, from a diverse mix of customers.
The orders occurred during Greenbrier’s (NYSE: GBX) fiscal fourth quarter that started on June 1. The orders also increase Greenbrier’s backlog and provide...
A focus on sustainability could be a boon for railcar manufacturers as European and North American customers pursue larger, higher-capacity railcars as a means to optimize rail shipments while reducing their carbon footprint by using rail, according to executives with railcar manufacturer Greenbrier.
“Already we’re seeing customers that are very interested in that environmental aspect. … It’s being driven by higher capacity, more efficient cars, fuel-efficient cars. And the current...
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
A Canadian facility of National Steel Car, a rail parts and freight car manufacturer, has been temporarily closed because of an outbreak of COVID-19.
A release last week said National Steel Car, in consultation with the public health department in Hamilton, Ontario, decided to extend a suspension of manufacturing operations for another week. The company now plans to resume operations on May 17.
“National Steel Car is continually monitoring the evolving COVID-19 pandemic and related developments....
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
FreightCar America names new CFORailcar manufacturer FreightCar America (NASDAQ: RAIL) has named Terence R. “Terry” Rogers CFO, effective last Monday. Rogers has been serving as interim CFO since January.
As CFO, Rogers will lead FreightCar America’s finance activities, including its business planning, budgeting, forecasting, treasury and information technology, the company said.
President and Chief Executive Officer Jim Meyer commented in a release, “We are thrilled to have a person of Terry’s...
https://s29755.pcdn.co/news/rail-roundup:-freightcar-america-names-new-cfo;-us-rail-volumes-flat