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...
February 1, 2023 | CP, Headlines, Quarterly Income
(Source: Canadian Pacific Railway press release, January 31, 2023) CALGARY — Canadian Pacific Railway Limited today announced its fourth-quarter results, including revenues of $2.46 billion, operating ratio (“OR”) of 59.8 percent, adjusted OR1 of 59.1...
February 1, 2023 | CP, CP-KCS Merger, Headlines, Quarterly Income
(Source: Canadian Press, January 31, 2023) In a conference call to discuss fourth-quarter financial results, CP’s CEO Keith Creel said the Calgary-headquartered railway is in growth mode as it awaits a decision by the U.S. Surface Transportation Board. During...
January 26, 2023 | Headlines, PSR, Quarterly Income, UP
(Source: Freight Waves, January 24, 2023) To counter looming macroeconomic headwinds in 2023, Union Pacific aims to boost rail service, which will include looking at how to improve the quality of life of craft employees, according to executives speaking on UP’s...
January 26, 2023 | CSX, Headlines, Quarterly Income
(Source: Associated Press, January 26, 2023) CSX hauled in 9% more profit in the fourth quarter as the railroad hauled less cargo but charged higher shipping rates and tacked on more fuel surcharges. The railroad said Wednesday that it earned $1.02 billion, or 49...
January 26, 2023 | CSX, Headlines, Quarterly Income
(Source: Trains Magazine, January 25, 2023) CSX Transportation reported strong fourth-quarter earnings on Wednesday and, despite signs of an economic slowdown, said it expected to gain volume this year thanks to ongoing service improvements. Full story: Trains...
January 26, 2023 | CSX, Headlines, Quarterly Income
(Source: CSX press release, January 25, 2023) JACKSONVILLE, Fla. — CSX Corp. today announced fourth quarter 2022 operating income of $1.46 billion compared to $1.37 billion in fourth quarter 2021. Net earnings of $1.02 billion, or $0.49 per share, compared to $934...
January 25, 2023 | Headlines, PSR, Quarterly Income, UP
(Source: CNN, January 24, 2023) For the year, the company’s employee pay and benefits rose by about $500 million, or 12%, to $4.6 billion, far less than the $6.3 billion that Union Pacific spent repurchasing shares of stock. “Instead of buying back their own stock, UP...
