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Rail News: Financials

Updates from American Railcar, The Andersons, Con-way, Bombardier and Chas. H. Sells

• American Railcar Industries Inc. reported second-quarter revenue of $204.5 million and net earnings attributable to common shareholders of $6.2 million vs. $209 million and $11 million, respectively, in second-quarter 2007. The company attributed the declines to reduced rail-car shipments and lower selling prices for many hopper cars in the quarter. However, tank-car deliveries rose from 2,077 units to 2,268 units.

• The Andersons Inc. reported second-quarter revenue of $1.1 billion and net income of $45.6 million compared with $634 million and $25.5 million, respectively, in second-quarter 2007. The rail group's revenue increased from $42 million to $43 million but operating income dropped from $6.9 million to $4.9 million. The group's fleet stood at 23,840 rail cars and locomotives, or 5 percent larger than the fleet's size in second-quarter 2007. The average utilization rate rose from 92 percent to 93.2 percent.

• Con-way Inc. has launched Con-way Multimodal™, which will provide third-party carrier services for intermodal, over-the-road, flatbed, heavy-haul and specialized transportation for truckload freight. The division, which replaces brokerage operation Con-way Truckload Services, will extend Con-way's reach throughout the United States, and into Canada and Mexico, the company said. Con-way named Tyler Ellison president of Con-way Multimodal. He most recently was senior vice president of Schneider National Inc.'s global client group, and previously was VP and general manager of Schneider Transportation Management.

• Swedish rail administration Banverket and Bombardier Transportation recently completed a high-speed train test ride between Vasteras and Stockholm as part of the Grona Taget, or "Green Train," project. Launched in 2005, the R&D project is scheduled to conclude in 2011. Involving a Bombardier REGINA train and Bombardier's ECO4 technologies, the project is aimed at developing a new generation of high-speed trains to meet Nordic countries' technical and traffic requirements. Project partners include Sweden's Royal Institute of Technology, the Swedish Governmental Agency for Innovation Systems, Swedish National Road and Transport Research Institute, Interfleet Technology AB and Transrail Sweden AB.

• Chas. H. Sells Inc. has changed its name to WSP • SELLS. The firm provides transportation and municipal engineering services, including railroad engineering and rail bridge inspection services. In October 2007, Chas. Sells joined the WSP Group, an engineering and transportation/infrastructure design firm.

Contact Progressive Railroading editorial staff.

More News from 8/8/2008