August 28, 2016

CSX profit jumps again in first quarter

CSX profit jumped 30 percent during the first quarter 2011 versus the first quarter 2010, the railroad reported April 19. This comes on the heels of a 35 percent improvement in operating profit for calendar year 2010. The CSX employee headcount rose in March to 30,464 employees, up 3 percent from March 2010, the railroad […]

Rail execs remain bullish for 2011

Railroads are expecting an even stronger second quarter in 2011 following a 5 percent increase in carload volume during the first three months of 2011, carrier executives told a J.P. Morgan financial conference in New York March 24. This prediction comes on top of strong profit gains in 2010 that saw multiple stock dividend increases […]

Rails boost spending, hiring, dividends

Railroads, enjoying record profits, say they will invest $12 billion in improving their track and operations in 2011, a significant increase over the $10.7 billion spent on capital improvements in 2010. Additionally, the railroads say they will hire some 10,000 employees in 2011 — and more than 70,000 new workers over the next five years […]

Railroads 2010: How sweet it was

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 […]

Record profits, but UP opposes PTC costs

On the same day (Jan. 20) Union Pacific reported record fourth quarter and record calendar year 2010 profits, UP Chairman Jim Young said he is headed to Washington to meet with President Obama’s economic advisers to oppose a congressional mandate that railroads implement crash-avoidance positive train control by year-end 2015. UP told investors its 2010 […]

Rails continue posting traffic growth

It was one a pretty good year in 2010 for freight railroads. Although freight volume trailed pre-recession 2008 figures, the nation’s major railroads reported a healthy 7.3 percent jump in carload traffic and a 14.2 percent increase in intermodal (trailers and containers on flat cars). AAR officials called the 52-week figures “a positive development.” Carload […]

UP profit soars; those furloughed will return

Union Pacific earnings for the third quarter 2010 soared by 51 percent from the third quarter 2009, the railroad told investors Oct. 21. UP told Wall Street analysts it was the company’s most profitable quarter ever. In reporting the record earnings, UP Chairman Jim Young told Wall Street analysts that the railroad had put some […]