May 26, 2015

Class I railroads release 1st quarter 2015 earnings

CSX_logo

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 [...]

Port labor dispute is big concern for UP, BNSF

With rail network congestion improving in some of the nation’s grain belt, Union Pacific Railroad and BNSF Railway are facing another prospective headache: a shutdown of the port complex of Los Angeles and Long Beach, the country’s largest. Omaha-based Union Pacific Railroad says a work slowdown by the the International Longshore and Warehouse Union on [...]

Class I railroads announce third quarter results

CSX_logo

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 [...]

Deadly Arkansas train crash cleanup ongoing

An important highway in northeast Arkansas could stay closed into next week as crews clean up the wreckage left from a head-on train collision, a highway official said Wednesday. Two railroad workers were killed and two others were injured when the Union Pacific freight trains crashed. Read the complete story at ClaimsJournal.com.

UP seeks refunds of overpaid pension tax

union_pacific_logo

Union Pacific Corp. says in a court filing that it and employees overpaid federal railroad retirement taxes by $74.8 million, and that refunds are in order for both the company and workers. The Omaha-based freight railroad made its case in a civil complaint filed this week in U.S. District Court in Omaha. The complaint names [...]

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 [...]

UP begins work at N.M. facility

ALBUQUERQUE, N.M. – Union Pacific Corp. has begun operations at a massive new railroad facility in southern New Mexico near both the U.S.-Mexico border and El Paso, Texas. The Omaha, Neb.,-based railroad will use its newly constructed hub facility in Santa Teresa to transfer cargo between trains and trucks, as well as for refueling engines [...]

UP Chairman Jim Young dies

union_pacific_logo

James R. Young, who advanced to become Union Pacific Corp. (UNP) chairman, president and chief executive officer after starting with the railroad company in an entry-level finance position, died today. He was 61 years old. He died after a two-year battle with pancreatic cancer, the company said in a statement distributed by PR Newswire. Read [...]