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Boomer of 3rd quarter for major railroads
Posted By ted On November 5, 2010 @ 12:00 am In Amtrak/Commuter,Amtrak/Commuter News,News | No Comments
It was a boomer of a third quarter for major railroad profits.
Blockbuster earnings were reported by Canadian National, Canadian Pacific, CSX, Kansas City Southern, Norfolk Southern and Union Pacific as railroads exercised market pricing power and enjoyed robust increases in freight shipments.
As BNSF is now privately held, it no longer reports detailed quarterly financial data, but the Journal of Commerce, citing a BNSF filing with the Securities and Exchange Commission, reported that BNSF’s third quarter profits soared 44.7 percent over the third quarter 2009. An operating ratio was not reported.
Meanwhile, the Railway Supply Institute reported that railroads are significantly increasing orders for new freight cars; while the Association of American Railroads reported that rail freight traffic for 2010 through early November is running 7.3 percent higher than for the same period in 2009.
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URL to article: http://utu.org/2010/11/05/boomer-of-3d-quarter-for-major-railroads-6/
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