Equipment Sector News — Rail
FreightCar America Announces Commercial Restructuring
FreightCar America said it has named three individuals to manage its newly restructured commercial organization. Sean Hankinson, Michael MacMahon and Kevin Knarr will have management responsibility covering North American sales, marketing and customer service, respectively.
Read more...Date Posted March 26, 2012
ATEL Leasing Hires Littlefield to Expand Rail Finance Unit
ATEL Leasing said it has added Larry Littlefield to manage the Rail Finance division to strategically build ATEL’s existing rail portfolio. He previously held senior marketing, management and operation positions at US Leasing, CIT Rail and Babcock & Brown Rail.
Read more...Date Posted March 5, 2012
FreightCar America Swings to Profit on Higher Demand
Railcar builder FreightCar America said Q4 and FY 2011 revenues and net income were up substantially from the same periods in 2010. New railcar deliveries in Q4 and year-end backlog were three times and four times higher, respectively.
Read more...Date Posted February 21, 2012
Rail Finance/Leasing Sector, a Promising Year Ahead
In a news release, rail industry trade journal Progressive Railroading commented on a survey of 60 industry executives with regard to the key issues facing the rail finance and leasing sector in 2012.
Read more...Date Posted February 10, 2012
AAR Reports Gains for Annual Rail Traffic
The Association of American Railroads reported gains in 2011 rail traffic compared with last year, with U.S. railroads originating 15.2 million carloads, up 2.2% over 2010 and up 9.7% over 2009.
Read more...Date Posted January 13, 2012
Greenbrier Swings to Q1 Profit; Railcar Deliveries Triple
Greenbrier reported that net earnings for the fiscal first quarter were $14.5 million compared to a net loss of $2.3 million for the same quarter last year. The company said it delivered 3,300 in the quarter compared to 1,050 last year.
Read more...Date Posted January 6, 2012
AAR Reports Gains for November Rail Traffic
The Association of American Railroads reported gains in November 2011 rail traffic compared with the same month last year. November 2011 saw the largest year-over-year percentage increase in carload traffic since March 2011.
Read more...Date Posted December 14, 2011
Greenbrier Q4 Results Reflect Improving Railcar Market
Greenbrier reported record revenues for the fiscal fourth quarter of 2011 and noted that new railcar deliveries in the quarter were a record 4,000 units, compared to 700 units in the fourth quarter of 2010.
Read more...Date Posted November 4, 2011
ATEL Leasing Completes Rail Car Lease with Large U.S. Shipper
ATEL Leasing announced the purchase and sale-leaseback financing of 900 rail cars on lease to one of the largest privately held shippers in the United States.
Read more...Date Posted October 20, 2011
AAR Reports Gains for September Rail Traffic
The Association of American Railroads reported gains for September rail traffic compared with the same month last year. Through Q3/11, U.S. carloads are at 87% of 2006 levels, the highest year on record for U.S. rail traffic.
Read more...Date Posted October 10, 2011
FreightCar America Names Former GATX Exec as SVP/Operations
FreightCar America said it appointed Terrence G. Heidkamp as senior vice president, Operations. He joins the company from GATX, where he served as VP, Operations for GATX’s rail leasing business.
Read more...Date Posted September 19, 2011
AAR Reports Mixed Results in July Rail Traffic
The Association of American Railroads (AAR) reported mixed results for July monthly rail traffic compared with the same month last year, with U.S. carloads down 1% and trailers and containers up 1.3%.
Read more...Date Posted August 12, 2011
GATX Reports Jump in Q2 Rail Segment Profit; Ups Outlook
GATX reported that its Rail segment profit was $56.7 million in the second quarter, up from $29.4 million one year ago. The company noted that based on current strength in the rail market, it was increasing its full year earnings expectations.
Read more...Date Posted July 29, 2011
Greenbrier Reports Higher Q3 Revenues; Railcar Deliveries Triple
Railcar maker Greenbrier reported third fiscal quarter 2011 revenue was $317 million, up from $207 million last year. The company noted that railcar deliveries of 2,200 units compared to 700 units in the same quarter last year.
Read more...Date Posted July 8, 2011
Bloomberg: Railcar Orders Soar to Highest Level in 13 Years
According to a Bloomberg article, railcar orders have risen to their highest level in more than 13 years, with the biggest quarter-to-quarter gain since 1993.
Read more...Date Posted May 31, 2011
American Railcar Reports Sharp Shipments & Backlog Increase
American Railcar Industries notes in its report on first quarter 2011 results that railcar shipments almost doubled from the same period last year and backlog increased more than five-fold from the year-end 2010.
Read more...Date Posted April 28, 2011
GATX Says Railcar Capacity Continues to Decline ‘Significantly’
GATX notes in its news release on first quarter earnings that the railcar market is showing signs of tightening as car-loadings continue to improve and idle railcar capacity continues to decline significantly.
Read more...Date Posted April 21, 2011
March Freight Rail Traffic, Hiring Increase
The Association of American Railroads reported monthly rail carloads in March 2011 increased 3.4% compared with the same month last year. The report notes intermodal traffic increased 8.5%, led by containers, which accounted for 85% of the traffic.
Read more...Date Posted April 13, 2011
Greenbrier Reports Narrower Loss on Increase in Railcar Deliveries
Greenbrier reported a net loss for the second quarter of $0.55 million compared to a net loss of $4.8 million in the same period one year ago. The company said new railcar deliveries were 2,200 units, up from 800 units in the prior period.
Read more...Date Posted April 7, 2011
GATX Places Order for 12,500 New Railcars
GATX announced that it has entered into an agreement to purchase 12,500 newly built railcars that are expected to deliver ratably over a five-year period.
Read more...Date Posted March 15, 2011
U.S. Rails Plan $12 Billion in 2011 Capital Spending
The Association of American Railroads announced the nation’s freight railroads in 2011 are planning to spend a record $12 billion on capital expenditures, after setting a record with $10.7 billion in capital spending in 2010.
Read more...Date Posted March 10, 2011
Number of Idle Railcars Dropping Steadily
The Association of American Railroads reported the number of idle railcars has been decreasing steadily since July 1, 2009. In February 2011, for example, with railcar owners took 12,457 cars out of storage.
Read more...Date Posted March 9, 2011
Trinity Railcar Lease Fleet Utilization Rate Rises to 99.3%
Trinity Industries reported that during the fourth quarter of 2010, its Trinity Industries Leasing Company (TILC) reported revenues of $135.2 million, including revenues from its majority owned TRIP Rail Holdings(TRIP)subsidiary of $28.9 million, and operating profit of $56.7 million, which included operating profit from TRIP of $17.6 million, was up from $30.8 million in the [...]
Read more...Date Posted February 18, 2011
Rail Finance & Leasing Sector Faces Uncertainty
In a recently published story on the rail finance/leasing sector, trade publication Progressive Railroading reports on some of the key issues facing the industry in 2011. The publication notes that the report was based on a survey of more than 60 rail finance and leasing industry executives that was published in its February 2011 issue. [...]
Read more...Date Posted February 14, 2011
