February 13, 2016

Man charged in theft of railroad wiring

copper wire spools

The theft of copper wire from railroad tracks in Texarkana, Ark., in April created a public hazard, a prosecutor said. Prosecutors in Miller County, Ark., formally charged Jeffrey Duane Procella, 39, last week in theft of metal and felony criminal mischief in the removal of signal wire from a Union Pacific Corp. railroad track in [...]

Fritz elected UP CEO to succeed Koraleski

union_pacific_logo

Union Pacific Railroad’s board yesterday elected Lance Fritz chairman, president and chief executive officer effective Oct. 1. As chairman, Fritz will succeed Jack Koraleski, who plans to retire Sept. 30. Fritz was elected UP’s president and CEO, and to the board, on Feb. 5. A year earlier, he was named president and chief operating officer. [...]

Second quarter financial results in for Class I railroads

CSX_logo

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 [...]

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 [...]