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...
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...
