December 1, 2015

NS hostile to CP acquisition bid


U.S. railroad operator Norfolk Southern Corp all but rejected a $28.4 billion acquisition offer by Canadian Pacific Railway Ltd on Tuesday, calling it “low-premium” and warning it would face significant regulatory hurdles. While Norfolk Southern said it would carefully evaluate the offer, its sour response represents a setback to Canadian Pacific as well as its largest shareholder, [...]

Canadian Pacific explores take over of NS


Canadian Pacific Railway Ltd., the second-biggest railroad in Canada, is exploring a takeover of  U.S.carrierNorfolk SouthernCorp. in a fresh attempt to consolidate the NorthAmerican industry,according to people familiar with the matter.The shares surged on the news. Canadian Pacific is raising financing and has held early-stage merger talks with Norfolk Southern, which is valued at about [...]

NS unveils new locomotives in Chicago


CHICAGO – Norfolk Southern joined local and state officials to dedicate a new fleet of environmentally friendly, rail yard locomotives for Chicago today at its 47th Street intermodal facility. The engines are branded “Eco” locomotives for their operating efficiencies in reducing emissions and fuel consumption. More than $19 million in grant funding through the federal [...]

Class I railroads announce third quarter 2015 earnings


In a press release Oct. 14, 2015, CSX announced record financial results for the third quarter of 2015. Net earnings for the railroad came in at $507 million for the quarter, compared to the $509 million for the same period last year, which translates into a third quarter record of $0.52 per share, as compared [...]

Second quarter financial results in for Class I railroads


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 [...]

STB approves NS acquisition of D&H lines


The Surface Transportation Board today approved Norfolk Southern Railway Company’s (NSR) acquisition of approximately 283 miles of rail line in Pennsylvania and New York from the Delaware & Hudson Railway Company, Inc. (D&H), subject to certain conditions. The lines at issue, known as D&H’s South Lines, consist of approximately 267 miles of the main line [...]

Class I railroads release 1st quarter 2015 earnings


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 [...]

Class I railroads announce third quarter results


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 [...]