We spent a day in two Ohio cities with GATX CFO Tom Ellman and Head of Investor Relations Shari Hellerman. Takeaways include: continued strength in North America railcar leasing; growth…

We hosted a virtual group meeting with Justin Roberts, VP, Corporate Finance & Treasurer, The Greenbrier Companies. Mr. Roberts remains confident in GBX's long-term operational plan, launched in April at…

Most locomotive energy transition scenarios bode well for Wabtec and to a lesser extent Caterpillar. There appears to be a near-consensus within the industry that the fleet will be zero-emission…

We had one-on-one and group meetings with several rail and rail equipment stakeholders at the Rail Equipment Finance Conference 2024 (REF), held March 3-6 in La Quinta, Calif. Putting the…

While we don’t know definitively, a part of Wabtec Corp.’s pre-owned locomotive order may not have been reflected in its guidance and could mean a mild incremental benefit, according to…

For The Greenbrier Companies (GBX), we see gradually subsiding volatility in revenue, margins and earnings over the next three to five years. This is as the company targets higher—albeit measured—lease…

The call on the Class I’s by other rail industry stakeholders to pursue modal share gain more aggressively is nothing new, but this year at Railroad Financial Corporation’s annual Rail…

Cowen and Company examines whether Caterpillar, Inc. could explore strategic alternatives for its transportation business, or at least the rail piece. An enterprise value-to-revenue multiple of 2.5x-2.75x may not be…

Tightness across a wide array of freight cars has continued, and with supply chain challenges limiting the industry’s ability to produce to demand, the lease rate momentum looks sustainable, according…

GATX has taken advantage of low interest rates over the past few years to improve its debt profile, which is currently 90% fixed, with an average maturity of 10 years.…

On May 31, we held a discussion with five expert panelists who provided insights into the current state and outlook of the rail, locomotive and railcar leasing and manufacturing markets.…