October 24, 2014

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 [...]

Norfolk Southern, Operation Lifesaver team up

BULLS GAP, Tenn. (WVLT) — “See tracks? Think train!” That’s the name of a new nation-wide safety campaign. Norfolk Southern and other railroads have teamed up with the non-profit, Operation Lifesaver. The group’s safety train is making its way to 9 cities in Tennessee and Virginia. It’s all part of a 5 day, 364 mile [...]

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 [...]

Norfolk Southern Railway sued by EEOC

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Company refused to allow employee with disability to return to work after treatment, federal agency charges ATLANTA – A Norfolk, Va.-based railway company unlawfully discriminated against an employee because of his disability, degenerative disc disorder, the U.S. Equal Employment Opportunity Commission (EEOC) charged in a lawsuit it filed Sept. 23 in Atlanta. According to the [...]

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 [...]

OSHA slams Norfolk Southern again

OSHA logo; OSHA

WASHINGTON – Norfolk Southern Railway Co. has been ordered to pay $1,121,099 to three workers following an investigation by the U.S. Department of Labor’s Occupational Safety and Health Administration, which found that the company violated the whistleblower provisions of the Federal Railroad Safety Act. Two investigations, conducted by OSHA staff in Chicago and Pittsburgh, found [...]

First quarter 2012 rail profits wrap-up

BNSF reported a 15 percent increase in profit forf the first quarter 2012 versus first quarter 2011, citing improved pricing and higher fuel surcharges. BNSF’s first quarter 2012 operating ratio of 74.4 percent was one percentage point lower than for the first quarter 2011. Operating ratio is a railroad’s operating expenses expressed as a percentage [...]

Wrap up: Major rails’ 1st quarter 2011 profits

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 [...]