August 29, 2015

Second quarter financial results in for Class I railroads

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CSX Corporation announced all-time record quarterly financial results for the second quarter of 2015. Operating income for the railroad came in at more than $1 billion for the first time in company history. The railroad also saw an all-time record in operating ratio of 68.8 percent. Net earnings came in at $553 million or an [...]

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 [...]

KCS announces Patrick J. Ottensmeyer as president

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Kansas City Southern announced Feb. 20 that as part of its succession planning process, Patrick J. Ottensmeyer has been appointed president, effective March 1, 2015. He will continue to report to David L. Starling, who remains chief executive officer. Ottensmeyer is currently the company’s executive vice president and chief marketing officer. In his new role, [...]

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 [...]

KCSR starts training, data surveying of PTC

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Kansas City Southern Railway Co. (KCSR) has begun employee training and data surveying as part of its effort to implement positive train control (PTC) by year’s end. Last week, employees began to receive training on PTC track and wayside data management at KCSR’s TEaM Training Center in Shreveport, La. About 160 workers were trained and [...]

Teen realizes dream of becoming train conductor

LISBON, N.Y. — A Lisbon Central School graduate is living his dream of working as a railroad conductor at age 19. Matthew House, a 2013 graduate of LCS, is now conducting trains in Kansas City. House has been fascinated by trains since age three and even formed a model train club while attending school in [...]

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 [...]

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 [...]

Federal judge sides with KCS on cameras

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In an opinion released July 25, the U.S. District Court in Shreveport, La., ruled that the decision by Kansas City Southern Railway to install two inward-facing cameras in the cabs of its locomotives presents a “minor” dispute under the Railway Labor Act, paving the way for the railroad to install the cameras immediately. The “minor” [...]