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...
March 1, 2023 | BNSF, Headlines, Quarterly Income
(Source: Railway Age, February 27, 2023) BNSF posted net earnings of $5.946 billion in 2022, virtually flat with 2021’s $5.990 billion, reflecting “higher revenue per car/unit, substantially offset by lower overall freight volumes and higher fuel and other operating...
February 16, 2023 | Derailment, East Palestine-NS, Headlines, NS, Quarterly Income
(Source: Fox Business, February 15, 2023) Despite a roughly 6% drop in share price since a Norfolk Southern train derailed in a plume of smoke near the Ohio and Pennsylvania border on Feb. 3, the company’s value is predicted to quickly rebound for investors. Full...
February 15, 2023 | Derailment, East Palestine-NS, Headlines, NS, PSR, Quarterly Income
(Source: Freight Waves, February 14, 2023) Two Wall Street analysts said Norfolk Southern won’t see a major hit to its bottom line following a major derailment in East Palestine, Ohio, a village roughly 50 miles from Pittsburgh. Bank of America’s Ken Hoexter wrote...
