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...
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...
