CANADIAN NATIONAL Canadian National reported a 9 percent increase in profit for calendar-year 2011 versus calendar-year 2010. The CN calendar-year operating ratio of 63.5 percent was a slight improvement over the 63.6 percent operating ratio for calendar-year 2010. Operating ratio is a railroad’s operating expenses expressed as a percentage of operating revenue, and is considered [...]
NS hiring conductors, other crafts
November 4, 2011
Norfolk Southern said Nov. 3 it intends to hire 500 employees by year end, and add another 2,600 employees in 2012 to meet growing demand for service and to replace those retiring. Hiring will be for conductors, as well as other crafts, including freight car repairers, machinists, signal maintainers, and track maintenance workers. For more [...]
UP lone “revenue adequate” railroad for 2010
November 4, 2011
WASHINGTON – The U.S. Surface Transportation Board has determined that only one major railroad – Union Pacific – was “revenue adequate” in calendar year 2010. A railroad is considered “revenue adequate” if it achieves a rate of return on net investment equal to at least the current cost of capital for the railroad industry. Revenue [...]
Wrap up: Major rails’ 3d quarter 2011 profits
October 26, 2011
BNSF reported a 9 percent improvement in profit for the third quarter 2011 versus the third quarter 2010. The third-quarter operating ratio of 71.7 percent was slightly higher than the 70.8 percent for third-quarter 2010. Operating ratio is a railroad’s operating expenses expressed as a percentage of operating revenue, and is considered by economists to be the [...]
Former NFL player secure in NS cab
May 16, 2011
Football season is long over. The New York Jets never made it to the Super Bowl. National Football League players are locked out by their owners. The upcoming football season could be in jeopardy. And how about Norfolk Southern conductor and former Jets defensive back Keith Fitzhugh, who last fall turned down a Jets’ offer [...]
Wrap up: Major rails’ 1st quarter 2011 profits
May 2, 2011
Most major North American freight railroads reported strong earnings for the first quarter 2011 versus first quarter 2010. Following is a wrap-up for the quarterly earnings reported by the railroads to the investment community. Not included is BNSF, which is privately held and does not report its financial results to the investment community. Mention is [...]
NS first-quarter profit leaps 26 percent
April 28, 2011
Norfolk Southern reported a 26 percent increase in profit for first quarter 2011 versus first quarter 2010. This follows a 45 jump in NS profit for calendar-year 2010. NS CEO Wick Moorman said the railroad intends to add some 1,100 new workers during 2011, returning employment to the same level as in 2008. NS operating [...]
Watco seeking NS, CSX track in Alabama
March 9, 2011
Shortline holding company Watco is seeking regulatory approval to acquire 43.6 miles of track from Norfolk Southern in Alabama between Maplesville and Autauga Creek, and 10.1 miles of track between Autauga Creek and Montgomery for creation of a new shortline railroad. The new shortline would be named Autauga Northern Railroad. Watco currently controls 22 shortline [...]
Railroads 2010: How sweet it was
January 28, 2011
How did major railroads perform in 2010? Reviewing their calendar-year and fourth-quarter profit statements, one wouldn’t know they were operating in the midst of a nationwide recession. Profits soared, stock dividends were raised and operating ratios improved. (Operating ratio — a railroad’s operating expenses expressed as a percentage of operating revenue — is considered by [...]
