April 26, 2023 | Derailment, East Palestine-NS, Headlines, NS, Quarterly Income
(Source: CNN, April 26, 2023) Norfolk Southern said a February derailment that released massive amounts of toxic chemicals in East Palestine, Ohio, cost the railroad $387 million. That dragged profit lower by about a third. The Atlanta-based company reported it earned...
April 26, 2023 | CN, Headlines, Quarterly Income
(Source: Yahoo Finance, April 25, 2023) Canadian National Railway Co. said the flow of consumer goods across its network is slowing down to the point that executives now believe North America is in a “mild recession.” Full story: Yahoo Finance
April 26, 2023 | CN, Headlines, Quarterly Income
(Source: Trains Magazine, April 25, 2023) Strong Q1 2023 prompted CN to raise its financial outlook for the year to mid single-digit earnings per share growth, up from its previous guidance of low single-digit growth. CN said it expects an economic downtown, but won’t...
April 26, 2023 | CPKC, Headlines, Shippers, UP
(Source: Trains Magazine, April 25, 2023) Knight-Swift will shift its U.S.-Mexico intermodal traffic from Union Pacific to CPKC’s new single-line route beginning in May. CPKC and Knight-Swift announced their multi-year agreement today, just four days after...
April 26, 2023 | CEO Pay, Headlines, PSR
(Source: Trains Magazine, April 24, 2023) The publicly traded U.S. Class I railroads are putting more of an emphasis on service and volume growth in the annual incentive plans they offer to their executives. It’s a clear sign, analysts say, that the railroads are...
