July 28, 2023 | Headlines, PSR, Quarterly Income, UP
(Source: Associated Press, July 26, 2023) Union Pacific has hired the CEO candidate favored by a hedge fund that’s been pressuring the railroad to improve amid disappointing results driven by weakening consumer demand and higher labor costs. The Omaha, Nebraska-based...
July 28, 2023 | East Palestine-NS, Headlines, NS, Quarterly Income
(Source: Associated Press, July 27, 2023) The costs associated with Norfolk Southern’s fiery February derailment in Ohio have more than doubled to $803 million as the railroad works to clean up the mess and moves forward with all the related lawsuits. The additional...
July 21, 2023 | CSX, Headlines, Quarterly Income
(Source: Associated Press, July 20, 2023) CSX said that it earned $996 million, or 49 cents per share, during the second quarter. That’s down 15% from a year ago when the railroad’s results were helped by a $122 million land sale. Last year, CSX reported earnings of...
July 21, 2023 | CSX, Headlines, Quarterly Income
(Source: CSX press release, July 20, 2023) JACKSONVILLE, Fla. — CSX Corp. today announced second quarter 2023 operating income of $1.48 billion compared to $1.70 billion in the prior year period. Net earnings of $996 million, or $0.49 per diluted share, compared to...
June 23, 2023 | Headlines, Quarterly Income, UP
(Source: Union Pacific press release, June 22, 2023) Union Pacific Corporation will release second quarter 2023 financial and operating results on Wednesday, July 26, 2023, at 7:45 a.m. ET. The company’s management team will host a conference call and live webcast at...
June 14, 2023 | Headlines, Quarterly Income, UP
(Source: Trains Magazine, June 13, 2023) A trio of recent Union Pacific agreements with rail labor unions, combined with ongoing volume and expense challenges, likely will make the railroad’s operating ratio rise this year. Full story: Trains...
May 8, 2023 | BNSF, Headlines, Quarterly Income
(Source: Trains Magazine, May 8, 2023) BNSF’s pre-tax earnings declined 8.8%, to $1.6 billion, as revenue increased 1.9%, to $5.8 billion, BNSF’s parent, Berkshire Hathaway, reported on Saturday. The railroad’s operating ratio was 68.4%, a 3.8-point increase from a...
April 28, 2023 | CPKC, Headlines, Quarterly Income
(Source: World Grain, April 26, 2023) Led by a robust grain business, Canadian Pacific Kansas City (CPKC) railroad in its first-quarter earnings report said revenue was C$2.27 billion, up 23% from C$1.84 billion year-over-year for the three months ended March 31. A...
April 27, 2023 | CPKC, Headlines, Quarterly Income
(Source: Canadian Press, April 26, 2023) Fresh from a historic merger, Canadian Pacific Kansas City president and CEO Keith Creel says the company is focused on a disciplined integration into a railway network that he believes will become “the most relevant in...
April 27, 2023 | Derailment, East Palestine-NS, Headlines, NS, Quarterly Income
(Source: Freight Waves, April 26, 2023) Norfolk Southern officials are hoping for service improvements in the second half of 2023 following a first half marred by a number of prominent train derailments, most notably the February derailment in East Palestine, Ohio, of...
