At TD Cowen, we are lowering our rail estimates ahead of third-quarter earnings reports to reflect a very challenged environment. Leaders in the rail and logistics market who attended our…

We hosted freight industry “fireside chats” and presentations on Day 1 of the TD Cowen 16th Annual Global Transportation Conference, being held Sept. 6-7 in Boston. While we heard that…

Railcar demand showed some resilience against a tough macro backdrop, although we view the results of our Second Quarter 2023 Rail Equipment Survey as a slight incremental negative, similar to…

Rail volumes have not seen a rebound in 2Q. Intermodal contract rates are down notably and are likely to pressure the group, though sequential volume improvements on the West Coast…

We hosted a June 15 call with Marty Oberman, Chairman of the Surface Transportation Board, on Thursday. We see a reciprocal switching ruling well before year-end, and a bottleneck ruling…

At TD Cowen’s latest “Railroad Happy Hour,” leaders in the rail and logistics market said they continue to face a soft volume environment, though service improvements are a step in…

We attended the NEARS (Northeast Association of Rail Shippers) Conference, where shippers discussed the current state of the rail industry. Rail service and safety was center stage, with panelist consensus…

Carloadings fell short of our expectations as a slow start to ‘23 volumes took hold in Q1 despite easy comps. Intermodal continues to pressure the group, given loose capacity and…

According to Cowen and Company’s recently conducted fourth-quarter 2022 Rail Equipment and Rail Shipper surveys, the demand for railcars remains strong, and rail-shipping pricing expectations ticked up sequentially. Details follow,…