Trinity Industries, which builds tank cars, covered hoppers and other freight cars saw lower revenue but higher profits on better railcar lease rates and improved efficiencies.
High numbers of migrant crossings in September disrupted freight rail operations, including Trinity Industries’ and FreightCar America’s ability to send new rail cars into the U.S., executives said on recent earnings calls.
Looming rail car retirements and high rates for rail car scrapping — not rail volumes — are driving the rail car market, according to the CEOs of rail car leasing companies and rail equipment manufacturers.
Ohio Gov. Mike DeWine wants President Joe Biden to declare East Palestine a disaster area, while Norfolk Southern calls for rail car owners associated with the Feb. 3 derailment to help pay cleanup costs.
Reduced North American rail traffic isn’t dampening the outlook for these rail equipment manufacturers and rail car lessors.
BNSF and three unions reach sick leave deals; Trinity Industries acquires a 3PL; and STB names new members to an energy transportation advisory committee.
Patriot Rail seals a deal; BNSF signs an MOU; Trinity strengthens its position; Port of Pasco secures project funding; Indiana Rail Road sets titles; and Hedlund succeeds Schulz as STB vice chair.
Railcar manufacturers expressed five themes in recent earnings calls. Their consensus: There is still much to be upbeat about.
Trinity Rail Group will supply a mix of 15,000 tank and freight railcars to GATX over a span of six years.
Shippers want to move more goods via rail, and they will do so once rail service improves. This will ultimately benefit lessors like Trinity Industries, CEO Jean Savage told investors on a recent earnings call.
Trinity Industries’ acquisition aims to benefit rail shippers, while Canadian Pacific’s agreement with Hapag-Lloyd seeks to provide service to key inland Canadian and U.S. Midwest markets.
Railcar leasing could be on the upswing for a number of car types, executives for railcar lessor Trinity Industries said during the company’s fourth-quarter 2021 earnings call on Thursday.
Trinity is selling its highway products business for $375 million in cash.
Although macroeconomic factors and lower train speeds support railcar leasing, the growth trend might be choppy as the COVID-19 pandemic and supply chain disruptions still weigh on the market, Trinity Industries and GATX said during their third-quarter 2021 earnings calls.
News about BNSF, Kansas City Southern, Trinity Industries and TTCI.
Rivals Canadian Pacific and CN separately submit more statements of support to the Surface Transportation Board in a bid to show which Canadian railway is best suited to merge with Kansas City Southern.
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.
Although market conditions are improving for Trinity Industries (NYSE: TRN), the railcar lessor and rail equipment manufacturer anticipates persistent headwinds through the first half of 2021 as prospective customers take […]
Two workers died after entering a tank car that carried natural gasoline at a TrinityRail facility in Oklahoma, according to OSHA. TrinityRail disagrees with OSHA’s findings.
TrinityRail will permanently close a plant in Vidor, Texas, laying off 59 workers by April 30.
TrinityRail, Canadian Pacific and Rocky Mountain Industrials announce company news; unions seek appointments to the National Mediation Board.
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.
Truck drivers for Dallas-based Trinity Logistics Group say they were blindsided by the carrier’s recent decision to close its heavy-haul operation.
Trinity took a $369 million impairment charge because leasing small cube covered hoppers exposed the railcar lessor to the frac sand market.
The drop in North American rail traffic could push railcar leasing rates lower.
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.
Gregg Mitchell promoted to new role after serving as chairman for Trinity’s highway products and logistics group.
TrinityRail has two new railcars: the Hourglass™ and the TrinFlo™.
Trinity Industries Inc. (NASDAQ: TRN) reported third-quarter net income of $49 million and earnings per share (EPS) of $0.39, compared to net income of $27.9 million, and EPS of $0.19 […]
Trinity Industries announced that Chief Executive Officer and President Timothy R. Wallace plans to retire as soon as a replacement is found.
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.
Total company revenue for Trinity Industries (NYSE: TRN) grew 16 percent to $736 million in the second quarter amid revenue gains for its rail product group.
A Trinity Industries subsidiary has bought 230 acres in Iowa to construct a multi-million-dollar railcar maintenance facility. The facility’s location in Butler County will give Trinity access to the Class I railroad network and the upper Midwest, Trinity said.
A number of rail equipment lessors and manufacturers have been merging and consolidating in recent months as a way to leverage themselves against marketplace changes brought about by precision scheduled railroading. Meanwhile, industry observers are watching whether railcar utilization grow in 2019.
Despite higher operating income, Trinity Industries’ (NYSE: TRN) first quarter 2019 net profit fell 24 percent to $30.6 million from $40.2 million in the first quarter of 2018. TRN consists of three business segments: a rail group that includes the manufacturing of rail parts and tanks; a leasing group; and a highway products and logistics service.
