2016 2nd quarter financial results for Class I railroads

Published: July 22, 2016

Last updated on July 28th, 2016


Net Earnings: $445 million or $0.47 per share; down from $533 million or $0.56 per share

Revenue: Down 12 percent

Operating Income: Down 17 percent to $840 million

Operating Ratio: Increased 210 basis points to 68.9 percent

Click here to read CSX’s full earnings report.



Net earnings: $120 million or $1.11 diluted earnings per share, a 10 percent increase

Revenue: $569 million, a decrease of 3 percent

Operating Income: $220 million, an 18 percent increase

Operating Ratio: 61.3 percent, improvement of 6.8 points

Click here to read Kansas City Southern’s full earnings report.



Net Earnings: C$328 million or C$2.15 per share, a decline of 16 percent

Revenue: C$1.45 billion, a decrease of 12 percent

Operating Income: C$551 million, a decrease of C$95 million

Operating Ratio: 62 percent, an increase of 110 basis points

Click here to read Canadian Pacific’s full earnings report.



Net Earnings: $1.0 billion or $1.17 per diluted share, a decline of 15 percent

Revenue: $4.8 billion, down 12 percent

Operating Income: $1.7 billion, down 15 percent

Operating Ratio: 65.2 percent, an increase of 1.1 points

Click here to read Union Pacific’s full earnings report.



Net Earnings: Decreased to C$858 million or C$1.10 per diluted share

Revenue: Decreased to C$2,842 million, a 9 percent decrease

Operating Income: C$1,549 million, a 12 percent decline

Operating Ratio: Second quarter record of 54.5 percent, an improvement of 1.9 points

Click here to read Canadian National’s full second quarter earnings report.



Net Earnings: $405 million or $1.36 diluted earnings per share, a decline in net earnings and a 4 percent decline in earnings per share.

Revenue: $2.5 billion, down 10 percent

Operating Income: $770 million, a 5 percent decrease

Operating Ratio: Improved to 68.6 percent, a 140 basis point improvement or 11 percent reduction

Click here to read Norfolk Southern’s full second quarter earnings report.


Note: Operating ratio is a railroad’s operating expenses expressed as a percentage of operating revenue, and is considered by economists to be the basic measure of carrier profitability. The lower the operating ratio, the more efficient the railroad.