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 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...
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...
