railcar manufacturing

Higher revenues boost Greenbrier’s fiscal-quarter income

Quarterly earnings for rail car manufacturer Greenbrier got a boost from higher revenue in all three of its operating segments, according to a Monday release discussing financial results for the company’s second fiscal quarter, which ended Feb. 28.

The Lake Oswego, Oregon-based company reported adjusted basis net earnings of $34 million, or 99 cents per diluted share, in the second fiscal quarter of 2023. This is compared with $1.6 million, or 5 cents per diluted share, in the first fiscal...

https://www.freightwaves.com/news/higher-revenues-boost-greenbriers-fiscal-quarter-income

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

Trade groups applaud House bill that encourages rail car scrapping

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The trade associations for rail equipment and component manufacturers are rallying behind a U.S....

https://www.freightwaves.com/news/trade-groups-applaud-house-bill-that-encourages-rail-car-scrapping

Greenbrier terminating rail car production at Portland facility

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Rail car manufacturer Greenbrier will cease production of rail cars at its Gunderson facility in...

https://www.freightwaves.com/news/greenbrier-terminating-rail-car-production-at-portland-facility

Trinity, GATX reach $1.8B railcar supply agreement

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

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

Congressional leaders push for tax credit for scrapping older railcars

Boxcars whizzing by a blocked rail crossing.

A bipartisan group of congressional leaders is trying once again to push through legislation to provide a tax credit for companies seeking to replace or modernize “inefficient, outdated” freight railcars.

Reps. Bradley Scott Schneider, D-Ill.,and Darin LaHood, R-Ill., introduced the bill, H.R. 7902, the Freight Railcar Act, last Friday. 

It has 29 co-sponsors, all of whom have previously signed on to a similar bill in past legislative sessions.

An iteration of this bill was first introduced in the...

https://www.freightwaves.com/news/congressional-leaders-push-for-tax-credit-for-scrapping-older-railcars

Rising steel costs, Ukraine conflict shape GATX’s view of 2022

A photograph of a GATX tank car next to other tank cars in a rail yard,

The conflict between Ukraine and Russia isn’t likely to affect the North American business of railcar lessor GATX, although the company’s European arm is seeing some operational impact, executives said during GATX’s first-quarter earnings call on Wednesday.

While GATX’s profit from its international segment is unlikely to be affected, the company is exposed operationally. GATX (NYSE: GATX) is the leading railcar lessor in Poland, according to CFO Thomas Ellman. It also has a large railcar...

https://www.freightwaves.com/news/rising-steel-costs-ukraine-conflict-shape-gatxs-view-of-2022

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

North American rail equipment makers keep close watch on Ukraine-Russia

A photograph of a tank car.

The North American railcar and rail equipment manufacturing industry is keeping its eye on what’s happening in Ukraine and Russia since many companies deal with customers or have facilities in or near the region.

“Historically the railway supply industry has been concentrated in North America, however, many equipment manufacturers have been feeling the effects of broader supply chain challenges that predated this crisis,” said John Hebert, spokesman for the Railway Supply Institute. “We are...

https://www.freightwaves.com/news/north-american-rail-equipment-makers-keep-close-watch-on-ukraine-russia

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