Rail Industry News
FRA okays $1 billion loan for PTC projects at Metro-North, LIRR
(Source: Progressive Railroading, April 27, 2015) The Federal Railroad Administration (FRA) has approved a $967.1 million loan for the Metropolitan Transportation Authority (MTA) to implement positive train control (PTC) on Long Island Rail Road (LIRR) and Metro-North...
Railroad unions urge tougher rules on tracks
(Source: Philadelphia Inquirer, April 26, 2015) PHILADELPHIA — Tougher inspection and maintenance standards for railroad tracks could prevent dangerous derailments of trains carrying explosive crude oil, officials of the rail inspectors' union say. Full story:...
NTSB: CTA O’Hare accident caused by fatigue, misplaced track braking system
(Source: National Transportation Safety Board press release, April 28, 2015) WASHINGTON, D.C. — The National Transportation Safety Board today determined that operator fatigue caused the 2014 Chicago Transit Authority accident at O’Hare station. Additionally, CTA did...
Norfolk Southern net profit falls in 1Q 2015
(Source: Reuters, April 29, 2015) CHICAGO — Norfolk Southern Corp. on Wednesday reported a lower quarterly net profit, driven by a drop in coal volumes as utilities burned more lower-cost natural gas and U.S. exporters were hurt by the strong dollar. Full story:...
Union Pacific bullish on U.S. economy, CEO says
(Source: Omaha World-Herald, April 24, 2015) OMAHA, Neb. — Union Pacific Railroad is bullish on the U.S. economy and its own prospects, said Chief Executive Lance Fritz, even after a drop in first-quarter freight volume motivated modest cuts in hiring and capital...
Norfolk Southern reports first-quarter 2015 results
(Source: Norfolk Southern press release, April 29, 2015) NORFOLK, Va. — NORFOLK, Va., April 29, 2015 – Norfolk Southern Corporation (NYSE: NSC) today reported financial results for first-quarter 2015. Net income for the quarter was $310 million, 16 percent lower...
Union Pacific reports 1Q 2015 results
(Source: Union Pacific press release, April 23, 2015) OMAHA, Neb. — Union Pacific Corporation today reported 2015 first quarter net income of $1.2 billion, or $1.30 per diluted share, compared to $1.1 billion, or $1.19 per diluted share, in the first quarter 2014....
NTSB faults BNSF in fiery Casselton oil train crash
(Source: Reuters, April 27, 2015) WASHINGTON, D.C. — A more stringent inspection of old tank car axles might have prevented an explosive BNSF train collision in Casselton, North Dakota, in December 2013, according to documents posted by the National Transportation...
How Washington derailed Amtrak
(Source: National Journal, April 20, 2015) WASHINGTON, D.C. — Thirty-nine minutes into his southbound ride from Wilmington, Delaware, to Washington, D.C., Joseph H. Boardman, president and CEO of Amtrak, begins to cry. We're in the dining car of a train called the...
CSX Director Lamphere sells $5.36 million in company stock
(Source: The Legacy, April 20, 2015) NEW YORK — CSX Director Gilbert H. Lamphere sold 165,556 shares of the stock on the open market in a transaction that occurred on Friday, April 17. The stock was sold at an average price of $32.38, for a total value of...
Railroads face earnings pressure in 2015
(Source: Daily Record, April 20, 2015) JACKSONVILLE, Fla. — Even before Jacksonville-based CSX Corp. lowered its earnings expectations for this year, investors last week were already seeing warning signs that 2015 could be a tough year for the railroad industry. Full...
CN studying derailments in bid to increase safety
(Source: Canadian Press, April 21, 2015) MONTREAL — Canadian National Railway plans to spend an extra $100 million this year to improve rail safety while it continues to analyse two significant derailments in Northern Ontario that hit its network in the past quarter....
CN’s 1Q 2015 profit rises, tops expectations
(Source: Reuters, April 20, 2015) MONTREAL — Canadian National Railway Co posted higher first-quarter earnings on Monday, topping analysts' expectations, and said it would boost capital spending to improve safety as volume rises. Net income rose to C$704 million, or...
CP Rail revenue rises 10% to $1.67 billion in 1Q 2015
(Source: Canadian Press, April 20, 2015) CALGARY — Canadian Pacific Railway Ltd. says its revenue for the first three months of 2015 was up 10 per cent from last year, hitting $1.67 billion, while its profit hit an all-time quarterly high of $320 million. Full story:...
CP Rail reports best operating ratio in company history
(Source: Financial Post, April 21, 2015) OTTAWA — CP’s operating ratio — a key measure of efficiency, in which a lower number is better — fell 880 basis points to 63.2 per cent. By comparison, competitor Canadian National Railway Co. reported an operating ratio of...
CP Rail reports record-setting results in 1Q 2015
(Source: Canadian Pacific Railway press release, April 21, 2015) CALGARY — Canadian Pacific Railway Limited today announced the lowest first-quarter operating ratio in the company’s history and the highest-ever net income for the period. Revenues climbed 10 percent to...
KCS reports first quarter 2015 results
(Source: Kansas City Southern press release (PDF), April 21, 2015) KANSAS CITY, Mo. — Kansas City Southern (KCS) reported first quarter 2015 revenues of $603 million. Overall, carload volumes were 1% higher than in first quarter 2014. HIGHLIGHTS: • Revenue of $603...
Kansas City Southern reports higher 1Q 2015 profit
(Source: Reuters, April 21, 2015) CHICAGO — Regional U.S. railroad Kansas City Southern on Tuesday reported higher quarterly income of $101.2 million, or 91 cents per share, up nearly 8 percent from $94 million, or 85 cents per share, a year earlier. Full story:...
Early American railroads shape modern language
(Voice of America, April 20, 2015) NEW YORK — Each week, we tell about American expressions and where they come from. Today we talk about railroads. Railroads were important to the development of the United States. The first U.S. railroads were built in eastern...
Enderlin settles dispute with CP Rail with help from Senator Hoeven
(Source: Inforum, April 19, 2015) ENDERLIN, N.D. — The David vs. Goliath battle that pitted a big railroad company against a small town of about 900 people in northern Ransom County appears to be over. Sen. John Hoeven said in a news release that Canadian Pacific...
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