Fisher Investments on Industrials

Glossary

 

 

Aftermarket Non-factory products, accessories, and services to replace, repair, or overhaul original equipment.

Available seat mile (ASM) Number of seats available to purchase, multiplied by the number of miles flown. ASM is a measure of airline capacity.

Backlog Orders that have been received and have to be fulfilled.

Baltic Dry Freight Index A shipping index that measures the cost to transport raw materials. The index, compiled by the Baltic Exchange, is a composite of prices for shipping dry commodities around the world.

Budget appropriations The actual funding levels for a project for a particular year. This is primarily seen when analyzing the defense budget.

Budget authorizations The total amount that can be spent in aggregate on a particular project over its life. This is primarily seen when analyzing the defense budget.

Class I railroads The largest North American railroads that meet predefined revenue criteria.

Containerization Shipping method where goods are packaged in large standardized containers.

Cost-plus contracts Contractors are paid a fee for their services and are reimbursed for their allowable costs.

Dead-weight ton Measure of how much weight a ship can carry.

Double-stack Stacking one rail car container on top of another to double a train’s capacity.

Dwell time The amount of time a train is docked at the station.

Earth-moving machine Machines used in civil engineering and construction projects, including excavators, cranes, and bulldozers.

Excavators ...