January 26, 2024 | East Palestine-NS, Headlines, NS, Quarterly Income
(Source: Associated Press, January 26, 2024) Norfolk Southern’s fourth-quarter 2023 profit fell 33% because the cleanup costs from last year’s fiery derailment in eastern Ohio. The railroad delivered 3% more shipments during the quarter, but even without the costs...
January 26, 2024 | East Palestine-NS, Headlines, Legislation, Railroad Safety
(Source: Transport Topics, January 25, 2024) Secretary Pete Buttigieg recently pressed Congress to pass legislation that would strengthen rail safety policies. Ideally, he emphasized, congressional action on the measure would occur before the anniversary of...
January 26, 2024 | Headlines, NS, PSR
(Source: Trains.com, January 25, 2024) Norfolk Southern told employees today that it will eliminate 7% of its management and staff positions as a cost-cutting move. Full story: Trains.com
January 26, 2024 | CPKC, Headlines, Mexico, UP
(Source: Trains.com, January 25, 2024) Railroad executives will meet with U.S. and Mexican customs officials next month to discuss how they can work together to keep vital rail border crossings open amid the surge in migrants crossing the Rio Grande. Full story:...
January 26, 2024 | Amtrak, Headlines
(Source: Progressive Railroading, January 25, 2024) The U.S. Senate has confirmed attorney Anthony Coscia, Aviation Strategies President Joel Szabat, and Normal, Illinois, Mayor Christopher Koos as members of Amtrak’s board. Coscia has been Amtrak’s chairman...
January 25, 2024 | CSX, Headlines, Quarterly Income
(Source: Trains.com, January 24, 2024) For the fourth quarter of 2023, higher costs ate into CSX’s profits. The railroad’s operating income declined 10%, to $1.3 billion, as revenue declined 1%, to $3.6 billion. Earnings per share declined 8%, to 45 cents. CSX’s...
January 25, 2024 | CN, Headlines, Quarterly Income
(Source: Progressive Railroading, January 23, 2024) CN yesterday reported financial and operating results for fourth-quarter 2023. The Class I posted Q4 revenue of C$4.5 billion, down 2%; net income of C$2.1 billion, up 50%; and C$3.29 diluted earnings per share...
January 25, 2024 | Headlines, UP
(Source: White House Fact Sheet, January 25, 2024) Today, President Biden will visit Superior, Wisconsin, where the Blatnik Bridge connects Wisconsin and Minnesota, to announce nearly $5 billion in funding for major transportation projects across the country as part...
January 25, 2024 | AAR Freight Trends, Headlines
(Source: Railway Age, January 24, 2024) Through the first three weeks of 2024 (ending Jan. 20), total North American carload and intermodal traffic dipped 5.6% from the same point last year, the Association of American Railroads (AAR) reported Jan. 24. North American...
January 25, 2024 | Amtrak, Headlines
(Source: Progressive Railroading, January 24, 2024) The Virginia Passenger Rail Authority (VPRA) announced that more than 1.32 million passengers traveled on its state-supported Amtrak Virginia rail service in 2023, up 29.8% year over year. Full story: Progressive...
