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...
April 26, 2023 | Derailment, East Palestine-NS, Headlines, NS, Quarterly Income
(Source: CNN, April 26, 2023) Norfolk Southern said a February derailment that released massive amounts of toxic chemicals in East Palestine, Ohio, cost the railroad $387 million. That dragged profit lower by about a third. The Atlanta-based company reported it earned...
April 26, 2023 | CN, Headlines, Quarterly Income
(Source: Yahoo Finance, April 25, 2023) Canadian National Railway Co. said the flow of consumer goods across its network is slowing down to the point that executives now believe North America is in a “mild recession.” Full story: Yahoo Finance
April 26, 2023 | CN, Headlines, Quarterly Income
(Source: Trains Magazine, April 25, 2023) Strong Q1 2023 prompted CN to raise its financial outlook for the year to mid single-digit earnings per share growth, up from its previous guidance of low single-digit growth. CN said it expects an economic downtown, but won’t...
April 25, 2023 | CN, Headlines, Quarterly Income
(Source: Railway Age, April 24, 2023) In the first quarter of 2023, CN reported revenues of C$4.313 billion, up C$605 million or 16% from first-quarter 2022’s C$3.708 billion. The Class I reported that this first-quarter record “was mainly due to higher fuel surcharge...
April 24, 2023 | CSX, Headlines, Quarterly Income
(Source: Associated Press, April 20, 2023) CSX hauled in 15% more profit in the first quarter as the railroad’s higher rates and fuel surcharges offset its higher costs. The railroad said on April 20 that it earned $987 million. That’s up from $859 million a year ago....
April 20, 2023 | Headlines, Quarterly Income, UP
(Source: Associated Press, April 20, 2023) Union Pacific reported first quarter 2023 income and operating results on April 20, 2023. In the first quarter of 2023, the railroad reported a profit of $1.63 billion. That’s in line with first quarter 2022 profit of $1.63....
March 13, 2023 | CEO Pay, East Palestine-NS, Headlines, NS, PSR, Quarterly Income
(Source: Scripps News, March 8, 2023) A Scripps News investigation found that Norfolk Southern told the Securities and Exchange Commission (SEC) in a proxy filing that one reason top executives were given large cash awards was because of the company’s “record...
