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Rail News: Railroading Supplier Spotlight

Rail supplier updates from FreightCar America, Wabtec, Auto Truck Group and Parsons Brinckerhoff (May 2)


FreightCar America Inc. has named Joseph McNeely president and chief operating officer. He has extensive rail-car industry experience and had held the position of vice president of finance, chief financial officer and treasurer since 2010. FreightCar America also reported a first-quarter net loss of $2.6 million, or 22 cents per diluted share, compared with net income of $9.7 million, or 81 cents per diluted share, a year ago. The net loss reflects a $2.5 million after-tax benefit from a litigation settlement and a $3 million tax related charge. Revenue for the quarter was $87.6 million compared with $219 million in the year-ago quarter. The company delivered 1,073 cars versus 2,613 cars in first-quarter 2012, and received orders for 274 cars versus 1,244 a year ago.

Wabtec Corp. reported record results for the first quarter, including $616 million in sales, up 6 percent compared with a year ago; $108 million in income from operations, or 16.8 percent of sales, compared with 16.1 percent in the year-ago quarter; and earnings per diluted share of $1.44, which rose 18 percent. Year-over-year net income for the quarter increased to $69.6 million from $59.3 million.

Lurae Stuart has been named a senior principal technical specialist in the Portland, Ore., office of Parsons Brinckerhoff. In her new position, Stuart will provide client services related to transit/rail operations, safety and security. She has more than 25 years of experience in project management, safety, security and operations in public transportation. Prior to joining the firm, she served Good Harbor Consulting in Abu Dhabi, UAE.

Auto Truck Group has hired Steve Terry as regional fleet sales manager. A 27-year industry veteran, Terry most recently was a territory sales manager with Williamsen Manufacturing. In his new role at Auto Truck, Terry will sell specialized truck equipment and uplifting services throughout the southwest U.S.

Contact Progressive Railroading editorial staff.

More News from 5/2/2013