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11/14/2024
Bohr Electronics has been awarded a contract by Virginia Railway Express (VRE) to supply 80 magnetic transfer switches, which will support ongoing maintenance of VRE’s locomotive fleet at the Crossroads Maintenance and Storage Facility in Fredericksburg, Virginia. Magnetic transfer switches manage power distribution within locomotive systems. Bohr’s switches are rigorously tested to withstand vibration, shock, and temperature variations and meet ISO 9001:2015 and AAR M-1003 standards.
The Greenbrier Cos. released its 2024 sustainability report, "On Track Together." The interim report provides updates to Greenbrier's sustainability issues on the topics of safety and quality, people, environmental sustainability, governance and ethics, and communities. Among the report's highlights: Greenbrier reused, reclaimed or recycled 25,000 tons of materials through its programmatic railcar restoration activities. The full report is available here.
FreightCar America Inc. reported third-quarter 2024 revenue of $113.3 million on 961 rail-car deliveries, compared to revenue of $61.9 million on 503 deliveries in Q3 2023. The company posted a net loss of $107 million, or $3.57 per share, and adjusted net income of $7.3 million, or 8 cents per share, driven by a $110 million non-cash loss on warrant liability due to a significant appreciation in share price, according to a FreightCar press release. The company ended the quarter with a backlog of 3,611 units valued at $372 million.