November 6, 2023 | BNSF, Headlines, Quarterly Income
(Source: Trains.com, November 5, 2023) BNSF Railway’s profits, revenue, and volume all declined in the third quarter, parent company Berkshire Hathaway reported on Saturday. BNSF’s pre-tax earnings fell 14.6%, to $1.6 billion, as revenue declined 12.4%, to $5.6...
November 1, 2023 | Headlines, NS, PSR, Quarterly Income
(Source: Trains.com analysis by Bill Stephens, October 20, 2023) When Norfolk Southern CEO Alan Shaw outlined the railroad’s long-term growth strategy in December, he couldn’t have been more clear: Keeping train crews on the payroll during freight downturns would hurt...
October 26, 2023 | East Palestine-NS, Headlines, NS, Quarterly Income
(Source: Associated Press, October 25, 2023) Norfolk Southern said its third-quarter 2023 profit of $478 million was half of last year’s $958 million. Without costs related to its derailment in East Palestine, Ohio, NS said it would have made $601 million. The...
October 26, 2023 | CPKC, Headlines, Quarterly Income
(Source: Freight Waves, October 25, 2023) CPKC reported net profit of CA$780 million (US$565 million) in the third quarter of 2023, down 12% year-over-year (y/y) from CA$891 million. Overall revenue totaled CA$3.3 billion in the third quarter, compared with CA$2.3...
October 26, 2023 | CN, Headlines, Quarterly Income
(Source: Progressive Railroading, October 25, 2023) CN yesterday reported third-quarter 2023 revenue of CA$4 billion, down 12%, and net income of CA$1.1 billion, down 24%, compared with the same period a year ago. Operating income declined 21% to CA$1.5 billion...
October 26, 2023 | CN, Headlines, Quarterly Income
(Source: Freight Waves, October 24, 2023) The Class I railroads are striving to collaborate more proactively and create a product that can be competitive against the truck markets, CN executives said during the Canadian railway’s earnings call Tuesday to discuss...
October 25, 2023 | Headlines, Quarterly Income, UP
(Source: Reuters, October 19, 2023) Union Pacific reported a 19% fall in quarterly profit on October 19, as higher labor costs and lower volumes outweighed the benefits from price hikes implemented by the railroad operator. The company’s operating ratio, a key...
October 25, 2023 | CSX, Headlines, Quarterly Income
(Source: Trains.com, October 19, 2023) CSX Transportation earnings declined alongside a third-quarter volume slump. Quarterly operating income dropped 18%, to $1.3 billion, as revenue fell 8%, to $3.6 billion. Earnings per share declined 19%, to 42 cents. CSX’s...
August 10, 2023 | BNSF, Headlines, Quarterly Income
(Source: Trains.com, August 7, 2023) BNSF Railway’s second-quarter earnings slumped 24% as volume and average revenue per car both declined, the railroad’s corporate parent, Berkshire Hathaway, said on Saturday. BNSF’s operating income fell 24%, to $1.6 billion, as...
July 28, 2023 | CPKC, Headlines, Quarterly Income
(Source: Freight Waves, July 27, 2023) Higher combined revenues for the second quarter of 2023 helped boost net profits for Canadian Pacific Kansas City. Revenues for the second quarter were nearly CA$3.2 billion (US$2.4 billion), up 44% year over year (y/y), CPKC...
