A market recovery is underway for railcar lessors and equipment manufacturers, but the market also has a ways to go before it bounces back completely, according to industry observations.
The railcar lessor has developed a new strategy that will focus on providing rail-related services and products as part of a broader effort to boost its profitability.
Trinity took a $369 million impairment charge because leasing small cube covered hoppers exposed the railcar lessor to the frac sand market.
The railcar lessor is looking for further add-ons to its fleet as competitors face pressure from the COVID-19 pandemic and the volatile crude oil market.
The rail equipment manufacturer and lessor is reducing deliveries of new railcars at the start of 2020, but it’s eyeing an improving market later this year.
The rail equipment manufacturer and lessor managed to increase quarterly revenues despite a slump in North American railcar demand.
The rail equipment manufacturer and lessor has tapped a Caterpillar executive and Trinity board member to head the company.
Private equity firm Paceline acquires a maintenance-of-way equipment lessor from Progress Rail, a Caterpillar subsidiary.
Gregg Mitchell promoted to new role after serving as chairman for Trinity’s highway products and logistics group.
The rail equipment lessor said corrosion damage was found in 160 railcars.
The rail equipment manufacturer sees high utilization rate but says economy faces uncertainty.
Despite uncertain economic conditions, Trinity Industries (NYSE: TRN) expects rail volumes to improve in the second half of the year, based on “healthy” inquiry levels for its railcars, company leaders said during TRN’s second quarter earnings call on July 25.
