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Jason Seidl, TD Cowen-Class I Service, Growth and the Final Consolidation Round

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Manage episode 492487188 series 2681833
Content provided by Rail Group On Air, RT, Railway Age, and IRJ. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Rail Group On Air, RT, Railway Age, and IRJ or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
Without volume and market share growth, the Class I’s may be at risk—or be forced to look at merging. Investors continue to await the next leg of Class I railroad earnings growth. While margin gains from current levels are expected, PSR (Precision Scheduled Railroading) is no longer the investor story it once was, and the railroads must prove they can grow to maintain their premium multiples. In this wide-ranging conversation with Railway Age Editor-in-Chief William C. Vantuono, Wall Street Contributing Editor Jason Seidl, Managing Director at TD Cowen, explores the factors that can drive railroad market share growth, including high-quality, consistently reliable service; ease of doing business; industrial development projects; regulatory relief allowing technological advancement; and potential mergers producing a U.S. transcontinental network. While the track record for industry volume growth has been questionable, Seidl views the growth levers “as largely in railroad control.”
  continue reading

143 episodes

Artwork
iconShare
 
Manage episode 492487188 series 2681833
Content provided by Rail Group On Air, RT, Railway Age, and IRJ. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Rail Group On Air, RT, Railway Age, and IRJ or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
Without volume and market share growth, the Class I’s may be at risk—or be forced to look at merging. Investors continue to await the next leg of Class I railroad earnings growth. While margin gains from current levels are expected, PSR (Precision Scheduled Railroading) is no longer the investor story it once was, and the railroads must prove they can grow to maintain their premium multiples. In this wide-ranging conversation with Railway Age Editor-in-Chief William C. Vantuono, Wall Street Contributing Editor Jason Seidl, Managing Director at TD Cowen, explores the factors that can drive railroad market share growth, including high-quality, consistently reliable service; ease of doing business; industrial development projects; regulatory relief allowing technological advancement; and potential mergers producing a U.S. transcontinental network. While the track record for industry volume growth has been questionable, Seidl views the growth levers “as largely in railroad control.”
  continue reading

143 episodes

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