April 28, 2015

Class I railroads release 1st quarter 2015 earnings

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CSX Corporation announced increases in its first quarter earnings April 14. Net earnings for the first quarter of 2015 came in at $442 million, an 11 percent increase over the $398 million reported for the same quarter of 2014. The company announced a 13 percent increase of earnings per share to $0.45 over last year’s [...]

Class I railroads release 4th quarter, annual earnings

In a press release Jan. 13, CSX announced record fourth-quarter and full-year financial results for revenue, operating income, net earnings and earnings per share. Net earnings for the railroad saw a 15 percent increase from $426 million from the same quarter last year to $491 million for the fourth quarter of 2014. Revenue for the [...]

Canada rails add workers, engines to halt winter woes

Canada’s two biggest railroads aren’t letting winter go unchallenged. Canadian National Railway Co. (CNR) is strengthening its network, increasing employees and engines to keep trains running smoothly prevent another winter of icy and prevent another winter of profit-sapping gridlock. Canadian Pacific Railway Ltd. (CP) is putting additional staff on standby, redeploying some equipment to “strategic” [...]

Canadian rails fight new rules to prevent crew fatigue

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Canada’s major freight rail companies are fighting moves by the federal transportation regulator to curb “extreme fatigue” among railway engineers, a CBC News investigation has found. CN Rail, CP and the Railway Association of Canada went on the attack two weeks ago at a “tense and heated” meeting of industry, union and government representatives, according [...]

Class I railroads announce third quarter results

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In a press release Oct. 14, CSX announced record third quarter profits. The railroad said that operating income increased 16 percent and operating ratio improved 220 points. Operating income came in at $976 million with an operating ratio of 69.7 percent. CSX also saw volume increases of seven percent. Revenue increased to $3.2 billion, eight [...]

Two major rail operators may merge

Canadian Pacific Railway has approached and been rebuffed by CSX about a merger that could bring together two of the world’s largest railroad operators, according to a published report Sunday afternoon on the website of The Wall Street Journal. If a merger were negotiated, it could rally a volatile Wall Street this week and eclipse in size Berkshire [...]

Class I railroads report 2nd quarter earnings

CSX Corporation announced record second quarter results with earnings coming in at $529 million or $0.53 per share. The second quarter of 2013 only saw $521 million or $0.51 per share. Revenue increased this quarter by seven percent to an all-time record of $3.2 billion. On the same token, the railroad saw record operating income [...]

Class I railroads report first quarter earnings

CSX reported to the public its first quarter 2014 earnings and dividend increase. The railroad announced net earnings of $398 million or $.040 per share. This is a decrease from last year’s first quarter reports of $462 million or $0.45 per share. However, revenue for the quarter grew two percent to $3 billion on volume [...]

CP worker injured after being pinned under train car

ALGONA, Iowa – Officials said on Wednesday (March 5) they won’t be releasing the name of a railroad employee injured when he was pinned under a train car on Tuesday near Algona. Canadian Pacific said it won’t release the worker’s name citing it as an “internal matter.” Read the complete story at the Globe Gazette.

SMART TD members picket CP in Minn.

Minnesota Gov. Mark Dayton on Thursday (Feb. 6) proposed initiatives to enhance railroad safety on the same day that rail workers protested Canadian Pacific’s safety practices by picketing its U.S. headquarters in Minneapolis. The governor announced through his press secretary that he will urge legislative leaders to hold hearings on the United Transportation Union’s reports [...]