ARI earnings rise on tank car demand

Nov 01, 2013 | 04:12 PM | Frank Haflich

Tags  American Railcar Industries Inc., tank cars, coal cars, hopper cars, quaterly results, Jeff Hollister, Freightcar America Inc., Chevron Phillips Chemical Co. orders

LOS ANGELES — A jump of nearly 50 percent in American Railcar Industries Inc.’s (ARI’s) third-quarter earnings highlights the contrast between a robust market for tank rail cars and comparatively soft demand for new coal cars.

In contrast to FreightCar America Inc., whose reliance on coal cars helped lead to a loss for the Chicago-based rail car manufacturer (see related story, left), "continued strong tank rail car shipments along with a slight increase in hopper rail car shipments" helped boost ARI’s third-quarter net income 49.7 percent, according to Jeff Hollister, president and interim chief executive officer of the St. Charles, Mo.-based rail car builder.....





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