TD Cowen

“During the fiscal year, Greenbrier met the evolving needs of our customers to maintain our market-leading position. At the same time, we advanced our strategy to drive operational improvements and…

“Consistent with our initial outlook, the railcar leasing environment in North America remains robust,” GATX President and CEO Robert C. Lyons said during a report on third-quarter 2023 financials, which…

Railcar demand showed some resilience against a tough macro backdrop, although we view the results of our third-quarter 2023 Rail Equipment Survey as a slight incremental negative for manufacturing and…

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…

Wabtec “delivered another strong quarter” for the three months ending June 30, 2023, with double-digit earnings per share growth, said President and CEO Rafael Santana, who noted during a July…

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…

GATX will report its Lease Price Index (LPI) based on a modified methodology beginning with second-quarter 2023. Weighing in on the move: David Nahass, Railway Age Financial Editor, and Matt…

The Greenbrier Companies’ third fiscal quarter, ending May 31, 2023, “reflects continued operating momentum and strong commercial activity,” President and CEO Lorie L. Tekorius said June 29 during the Oregon-based…

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…

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…

While lease rates and utilization improved in first-quarter 2023 for Trinity Industries’ Railcar Leasing and Management Services Group, margins in the Rail Products Group “continue to reflect headwinds,” according to…

“CSX had an encouraging start to the year as the efforts of our dedicated railroaders resulted in strong earnings growth,” said President and CEO Joe Hinrichs during the Class I’s…

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…

The results of our 1Q23 Rail and Equipment Surveys indicate a slight decrease in business growth expectations, and some resilience in railcar demand.

The Greenbrier Companies on March 22 reported receiving orders for 4,500 new railcars during the fiscal second quarter ended Feb. 28, 2023, for which it provided preliminary results, including deliveries…