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Daily Headlines
Canadian Pacific’s second-quarter net profit falls 12%
(Source: Freight Waves, July 22, 2020) CHATTANOOGA, Tenn. — Canadian Pacific’s second-quarter net profit slipped 12% amid a 9% decrease in revenue. Net income totaled C$635 million (US$473 million), or C$4.66 in diluted earnings per share, in the second quarter of...
Canadian Pacific reports Q2 2020 financial results
(Source: Canadian Pacific Railway press release, July 22, 2020) CALGARY — Canadian Pacific Railway Limited today announced second-quarter results, including revenues of $1.79 billion, diluted earnings per share ("EPS") of $4.66, adjusted diluted EPS of $4.07 and an...
CSX’s second-quarter 2020 net income falls 43%
(Source: Freight Waves, July 22, 2020) CHATTANOOGA, Tenn. — Second-quarter net profits for CSX slipped 43% amid a pandemic-induced 26% drop in revenue. Second-quarter revenue fell 26% to $2.26 billion amid lower economic activity driven by the COVID-19 pandemic, CSX...
CSX announces Q2 2020 financial results
(Source: CSX press release, July 22, 2020) JACKSONVILLE, Fla. — CSX Corp. today announced second quarter 2020 net earnings of $499 million, or $0.65 per share, versus $870 million, or $1.08 per share in the same period last year. “I want to extend my gratitude to all...
UP’s Q2 2020 net profit slips 28%
(Source: Freight Waves, July 23, 2020) CHATTANOOGA, Tenn. — Net profit for Union Pacific in the second quarter fell 28% amid a 20% decline in volumes resulting from the economic impact of the coronavirus pandemic. Second-quarter net income totaled $1.1 billion, or...
Union Pacific reports Q2 2020 financial results
(Source: Union Pacific press release, July 23, 2020) OMAHA, Neb. — Union Pacific Corporation today reported 2020 second quarter net income of $1.1 billion, or $1.67 per diluted share. This compares to $1.6 billion, or $2.22 per diluted share, in the second quarter...
CN to purchase 1,500 new hopper rail cars for grain export
(Source: CN press release, July 21, 2020) MONTREAL — CN today announced that it plans to acquire 1,500 new generation, high-capacity, grain hopper cars with delivery starting in January of 2021. These new railcars will encourage the economic recovery through job...
Virgin Trains moves closer on financing for high-speed rail between Las Vegas and Victorville
(Source: Fox 5 Vegas, July 21, 2020) LAS VEGAS — Clark County Commissioners on Tuesday unanimously approved state findings related to financing for the high-speed rail project. Full story: Fox 5 Vegas
Alabama neighbors upset train continuously blocks only entrance
(Source: Television station WSFA, July 21, 2020) MONTGOMERY COUNTY, Ala. — A rural neighborhood living on the opposite side of a railroad track in Montgomery County says a train has been blocking the only entrance into and out of their neighborhood for years....
CP Rail is reconstructing the Davenport crossings to the Mississippi riverfront
(Source: Quad City Times, July 21, 2020) DAVENPORT, Iowa — The Canadian Pacific Railway is making good on its agreement to reconstruct the eight railroad crossings along downtown Davenport's riverfront that it blocked by abruptly raising the height of its tracks...
