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Transportation 2018 Outlook: Market perform

Sector Outlook: 07 Feb 2018, 5:02 AM ET - Steady global growth, rebounding US industrial production and resilient consumer confidence provide support for a positive year ahead, but NAFTA remains a wildcard that could derail the sector’s high confidence.

Upcoming NY IG & HY Conferences

Announcement: 29 Nov 2016, 8:54 PM ET - Join us in New York on Tuesday, December 13, 2016 for our upcoming conferences.

Sector Update: June 2016 - US Industrials

Sector Weightings: 13 Jul 2016, 4:06 AM ET - Our Sector Update provides  June monthly performance data and updated recommendations for the Industrial sectors. 

Freight/Rail/Logistics: 2016 Outlook

Sector Outlook: 05 Jan 2016, 11:26 PM ET - The freight/rail/logistics group is likely to Underperform.  Expect FRL leverage to increase.  Rail pricing power remains intact, but volume is more likely to surprise to the downside than upside.

2016 Outlook: Industrial Sector Recommendations

Strategy Outlook: 21 Dec 2015, 10:33 PM ET - We discuss 2015’s performance and detail our 2016 recommendations in the Industrial sector. 

3Q15 Rail Preview: Low EV Multiples Concerning

Sector Outlook: 13 Oct 2015, 3:37 PM ET - CreditSights changes its recommendation on CSX to Underweight, affirms its Underperform recommendation on NSC, and upgrades its recommendation on CP to Outperform.  Swooning EV multiples add additional risk for some names.

July 2015 Sector Update: Industrials

Sector Weightings: 06 Aug 2015, 1:34 PM ET - Our July sector overview provides the latest monthly performance data for the Industrials sectors.  Additionally, this month features a discussion of the sector level impacts of rising interest rates.
Focused

Kirby 2Q15: Renewal Price Pressure

Earnings Note: 29 Jul 2015, 11:56 PM ET - Demand for petrochemical transport was “healthy”, but demand for crude decreased.  Overall term contract renewals declined in the low-single digit percentage range.

Final N.A. Tank Car Rules Issued

Sector Analysis: 03 May 2015, 11:16 PM ET - The rules are more benign than feared.  They primarily apply to crude and ethanol (not all flammable materials), and there is ample time for GATX to retrofit or replace its proportionately small crude and ethanol fleet.

Riding the Rails: 1Q15 Preview

Sector Outlook: 13 Apr 2015, 4:26 AM ET - 1Q15 revenue grows a CreditSights-estimated 3.0% YoY on 2.7% more volume 0.3% stronger revenue per unit. Lower fuel surcharges dampen top-line growth by 3.3 percentage points. Mix remains a drag. Core price gains continue.

Using the New E-Mail Alerts System

Announcement: 18 Feb 2015, 11:28 PM ET - CreditSights launched its new beta e-mail Alerts system on  Mon, February 23rd. A new interface allows users to manage their e-mail  Alerts. This is a user guide for managing your e-mail Alerts in the new system.

Announcing CreditSights' New E-Mail Alerts System

Announcement: 12 Feb 2015, 11:27 PM ET - CreditSights announced the launch of its new beta e-mail Alerts system on Monday, February 23rd. Your previous e-mail Alert preferences will be carried over into the new beta e-mail Alerts system.
Focused

Kirby 4Q14: Stress May Create M&A Opportunities

Earnings Note: 02 Feb 2015, 11:17 PM ET - KEX tends to move counter cyclically, so market disruptions might spur M&A activity.

GATX 4Q14: Tank Cars Not Being Returned

Earnings Note: 22 Jan 2015, 11:28 PM ET - GMT’s emphasis on leasing to high-quality customers for long-terms across a diverse breadth of commodities reduces its vulnerability to oil price swings.

Freight/Rail/Logistics: 2015 Outlook

Sector Outlook: 13 Jan 2015, 12:15 AM ET - The FRL group performs well in a risk off environment. The rails have strong balance sheets with pension and lease-adjusted net debt to EBITDA of 1.7x.  They are solid cash generators, with predictable earnings and below-average event risk.
Focused

Kirby Corp: Cuts 4Q14 and Full Year Guidance

Worth Watching: 17 Dec 2014, 10:26 PM ET
Focused

Kirby Corp 3Q14: Land-based Services Rebound

Earnings Note: 31 Oct 2014, 12:37 AM ET - 3Q14 revenue increased 23.5% YoY to $681 million on better-than-expect Diesel Engine Services sales which more than doubled on higher demand for new oilfield equipment and service.
Focused

Kirby Corp 2Q14: Land-based Services Improvement

Earnings Note: 05 Aug 2014, 8:39 PM ET - Land-based Diesel Engine Services showed improvement, with orders for new pressure pumping equipment and re-manufacturing improvement.  Higher pressure pumping demand reflects some pent up orders, and customers are more willing to spend.

Riding the Rails: 2Q14 Preview

Sector Outlook: 14 Jul 2014, 10:01 PM ET - 2Q14 rail revenue will increase a CreditSights-estimated 9.3% on 7.3% more volume and 2.5% better revenue per unit.   Operating ratios are likely to strengthen further as volume gains continue to outpace headcount growth

NA Class 8 Trucks: Favorable Production Outlook

Worth Watching: 17 Jun 2014, 9:34 PM ET

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