Wolfe Research Industry Primers

The industry primer reports and rail map described below became available in conjunction with the WR Second Annual Global Transportation Conference on May 19-20th, 2009. They can be accessed as electronic, encrypted PDFs (except the rail map) by clicking each title below. To receive a hard copy of any of the reports, please complete the form below. We have also provided unencrypted links to a preview of the cover and Table of Contents for each report.

These reports are strictly limited to clients of Wolfe Research.
If you are a Wolfe Research client and can not access these reports, please contact ITSuppport@wolfetrahan.com to request our PDF decryption plug-in.

The Whole Trucking Story (340 page PDF)

This 340-page trucking industry primer provides an in-depth look at our fundamental trucking thesis, including deep dives on the macro environment, industry background, regulatory issues and pensions. This report also breaks down the TL and LTL sectors, including analysis of valuation, volume, pricing and fuel, with discussion of competition with railroads and a large LTL bankruptcy case study. The report includes our truck carrier capacity and equipment survey results, and concludes with individual company reports and models for all 11 public trucking companies in our coverage universe.
Click here for an unencrypted preview

A Training Manual (400 page PDF)

This report provides an in-depth overview of the railroads’ historical and current operating, financial, and regulatory trends and changes. It includes analysis of rail financial performance during past recessions, including rail volumes back to the Great Depression and rail financial and stock performance out of historical downturns. We also provide a deep dive on rail end-segment customers as well as a full analysis of railroad pricing, expenses (including an in-depth discussion on pension and labor unions and costs), capital spending and returns on capital. The report concludes with individual company reports and models for all nine public railroad companies in our coverage.
Click here for an unencrypted preview

Updated and Revised Rail Map (Hard Copy only)

New Rail, Coal and Ports Map includes updates of recent track build-outs plus highlighted key lanes for each major Rail. If it’s blue… it’s new…

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