October 23, 2019 | CSX, Headlines, Quarterly Income
(Source: Wall Street Journal, October 21, 2019) NEW YORK — The activist that shook up CSX Corp. has wound down most of its investment in the railroad operator, marking an end to a three-year saga that helped spur a massive overhaul of the U.S. railroad industry. Paul...
October 23, 2019 | CN, Headlines, Quarterly Income
(Source: Freight Waves, October 22, 2019) CHATTANOOGA, Tenn. — Despite a lower operating ratio and higher revenue and net profits in the third quarter, Canadian National Railway said it plans to lower its guidance for 2019 amid sluggish rail volumes and a softer North...
October 23, 2019 | CN, Headlines, Quarterly Income
(Source: CN press release, October 22, 2019) MONTREAL — CN today reported its financial and operating results for the third quarter ended September 30, 2019. “CN delivered strong results, despite a softening economy,” said JJ Ruest, president and chief executive...
October 23, 2019 | Headlines, NS, Quarterly Income
(Source: Norfolk Southern press release, October 23, 2019) NORFOLK, Va. — Norfolk Southern Corporation today reported third-quarter financial results. Third-quarter net income was $657 million and diluted earnings per share were $2.49. The operating ratio for the...
October 22, 2019 | Headlines, KCS, Quarterly Income
(Source: Supply Chain Dive, October 21, 2019) WASHINGTON, D.C. — KCS is exhibiting the effects of overall depressed volume for railroads less than other Class I’s due to its substantial freight share that crosses the U.S.-Mexico border. Chemical and petroleum...
October 21, 2019 | Headlines, KCS, Quarterly Income
(Source: Freight Waves, October 18, 2019) CHATTANOOGA, Tenn. — Although Kansas City Southern declined to provide any guidance on 2020, opportunities to grow cross-border volumes, coupled with additional savings and operational efficiencies as a result of precision...
October 21, 2019 | Headlines, KCS, Quarterly Income
(Source: Progressive Railroading, October 18, 2019) Kansas City Southern logged record third-quarter 2019 revenue of $747.7 million, a 7 percent increase over the same quarter a year ago, the Class I announced today. The railroad was helped by a 21 percent increase in...
October 18, 2019 | Headlines, Quarterly Income, Unions
(Source: Reuters, October 17, 2019) NEW YORK — Railroad operator Union Pacific Corp. on Thursday reported quarterly profit that missed analysts’ estimates and said it would cut capital spending and jobs as the multi-front U.S. trade war worsens an industry-wide...
October 18, 2019 | Headlines, KCS, Quarterly Income
(Source: Kansas City Southern press release (PDF), October 18, 2019) KANSAS CITY, Mo. — Kansas City Southern (KCS) reported record revenues of $747.7 million, an increase of 7% from third quarter 2018. Overall, carload volumes were flat compared to prior year. Third...
October 17, 2019 | CSX, Headlines, Quarterly Income
(Source: Associated Press, October 16, 2019) JACKSONVILLE, Fla. — CSX’s profit declined 4% in the third quarter, but tight cost controls helped the railroad weather a 5% decline in volume. The Jacksonville, Florida, based railroad said it earned $856 million, or...
