April 23, 2014

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 [...]

Class I railroads release 4th quarter earnings

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CSX Corporation announced its fourth quarter and full-year earnings for 2013 Jan. 15. The railroad reported net earnings of $426 million or $0.42 per share for the fourth quarter. These earnings were down from the same quarter in 2012, with earnings of $449 million or $0.44 per share. Earnings dropped $37 million from the third [...]

Class I railroads release 3rd quarter earnings

CSX Corporation announced Oct. 15 that they had net earnings of $463 million or $.046 per share for the third quarter of 2013. Earnings for the same quarter last year were $455 million or $.44 per share. Earnings are up by $8 million over last year, but down $72 million from the second quarter of [...]

CSX hopes to expand profit despite coal slowdown

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OMAHA, Neb. – CSX Corp. remains optimistic the railroad’s profits will improve over the next two years even though coal demand has remained stubbornly weak. Officials at the Jacksonville, Fla.-based railroad said Wednesday that shipments of intermodal containers and merchandise will continue to be a larger part of their business. Read the complete story at [...]

Passage cleared for taller trains

The first phase of CSX Transportation’s National Gateway project, which will allow trains carrying maximum-sized freight containers stacked two-high to travel between Ohio and East Coast ports, has been completed on time and within budget, the railroad said. The project involves enlarging tunnels and improving clearance heights beneath bridges to allow trains taller than previously [...]

Class I railroads report 2nd quarter earnings

CSX Corporation announced July 16 second quarter net earnings of $535 million or $0.52 per share. For the second quarter of 2012, CSX earned $512 or $0.49 per share. According to these figures, CSX is up a profit of $23 million over last year’s earnings for the same quarter. CSX attributes these profits to overall [...]

Court: Ala. discriminates against railroads

 BIRMINGHAM, Ala. – A federal appeals court July 1 ruled that Alabama discriminated against railroads by forcing them to pay a sales tax on fuel when it exempts its competitors – trucking and barge companies. The U.S. 11th Court of Criminal Appeals issued its opinion in CSX Transportation, Inc.’s appeal in its 2008 lawsuit against [...]

Fire rages for hours after Baltimore train crash

A huge fire outside Baltimore, triggered by the collision of a freight train carrying chemicals and a trash truck, raged for 10 hours before being brought under control, officials said early Wednesday. A dark, thick plume of smoke could be seen for miles after two of 15 derailed cars from a CSX-owned train caught fire. [...]

NS, CSX optimistic about 2013

A few weeks shy of their respective first quarter earnings announcements East Coast-based Class I railroads Norfolk Southern and CSX are feeling pretty good about their businesses. Norfolk Southern CEO Wick Moorman stated in the company’s 2012 annual report that the future is promising for the rail carrier, which saw 2012 come in as its [...]

Signal, bridge defects eyed in hazmat mishap

PAULSBORO, N.J. — A signal  problem and/or a bridge-locking defect may have been contributing factors in a Conrail bridge collapse and CSX train derailment here Nov. 30. Paulsboro is some 20 miles southeast of Philadelphia. Some 12,500 gallons of the hazardous material vinyl chloride spilled into a creek from four derailed tank cars. There were [...]