Posts Tagged ‘2nd Quarter earnings’

2017 2nd quarter financial results for Class I railroads

CSX

Net Earnings: $510 million or $0.55 per share, up 15 percent from $445 million or $0.47 per share from 2016’s second quarter earnings results

Revenue: Increased 8 percent to $2,933 million

Operating Income: $958 million, up 14 percent

Operating Ratio: 67.4 percent, down from 68.9 percent

Click here to read CSX’s full earnings report.

 

KCS

Net Earnings: $135 million or $1.27 per diluted share, up from 2016 second quarter’s reported $121 million or $1.11 per diluted share

Revenue: Record second quarter revenues of $656 million, a 15 percent increase from the second quarter of 2016

Operating Income: All-time record of $239 million, an increase of 9 percent from the second quarter of 2016

Operating Ratio: 63.5 percent, a 2.2 increase from second quarter 2016

Click here to read KCS’s full earnings report.

 

CP

Net Earnings: Rose 46 percent to C$480 million or C$3.27 per diluted share (a second quarter record)

Revenue: C$1.64 billion, up 13 percent

Operating Income: A second-quarter record of C$679 million, up 23 percent

Operating Ratio: Improved 330 basis points to a second quarter record of 58.7 percent

Click here to read CP’s full earnings report.

 

UP

Net Earnings: $1.2 billion or $1.45 per diluted share (a second quarter record), as compared to the $1.0 billion or $1.17 per diluted share reported for the second quarter of 2016

Revenue: Up 10 percent to $5.3 billion

Operating Income: Up 21 percent to $2.0 billion

Operating Ratio: A second quarter record of 61.8 percent, a 3.4 point improvement compared to the second quarter 2016

Click here to read UP’s full earnings report.

 

CN

Net Earnings: Increased 20 percent to C$1,031 million and diluted earnings per share increased 24 percent to C$1.36

Revenue: Increased 17 percent to a quarterly record of C$3,329 million

Operating Income: Increased 16 percent to C$1,495 million

Operating Ratio: Increased 0.6 points to 55.1 percent

Click here to read CN’s full earnings report.

 

NS

Net Earnings: Up 23 percent to $497 million while diluted earnings per share increased 26 percent to $1.71

Revenue: Increased 7 percent to $2.6 billion

Operating Income: Up 15 percent year-over-year to $888 million

Operating Ratio: An all-time record at 66.3 percent

Click here to read NS’s full 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.

2016 2nd quarter financial results for Class I railroads

CSX_logo

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.

 

KCS_rail_logo

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.

 

CP_Logo_RGB

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.

 

union_pacific_logo

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.

 

CN_red_logo

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.

 

ns_Logo

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.

Class I railroads report 2nd quarter earnings

CSX_logo

CSX Corporation announced July 16 second quarter net earnings of $535 million or $0.52 per share. For the second quarter of 2012, CSX earned $512 or $0.49 per share. According to these figures, CSX is up a profit of $23 million over last year’s earnings for the same quarter.

CSX attributes these profits to overall revenue growth, service and efficiency results, and other items such as tax and real estate. Revenue for the second quarter 2013 was a total of almost $3.1 billion. CSX was at an operating income of $963 million and an operating ratio of 68.6% for the quarter.

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.

CSX is up from last quarter, having reported a net income of $459 million or $0.45 per share. Revenue for the first quarter was at $2.96 billion, quite a bit less than this quarter’s reported $3.1 billion.

 

union_pacific_logoUnion Pacific Corporation announced July 18 that performance for the second quarter 2013 was the best they have ever reported at a net income of $1.1 billion or $2.37 per diluted share, an increase of five percent over last year’s second quarter earnings. Earnings for the same quarter last year were only $1 billion or $2.10 per diluted share.

UP saw an increase of operating revenue to $5.5 billion, while last year’s operating revenue for the same quarter was only $5.2 billion. The freight revenue was also at a five percent increase and their operating ratio of 65.7 percent was the best ever recorded at 1.3 points higher than the second quarter last year; and 0.9 points better than the previous best-ever record which was set in the third quarter of 2012.

Second quarter earnings are also up from the first quarter of this year. UP reported increased revenue of $5.29 billion for the first quarter, a great deal less than this quarter’s reported $5.5 billion.

 

KCS_rail_logoKansas City Southern (KCS) reported July 19 record revenues as well as record carloads for the second quarter 2013. KCS announced that the second quarter was up six percent over the second quarter 2012 with $579 million in revenues. Carloads saw an increase of three percent over last year as well.

The railroad saw an operating income of $179 million, 12 percent higher than the same quarter of the previous year and an operating ratio of 69.0 percent, a 1.5-point improvement.

Revenue growth for the second quarter was led by a 26 percent increase in Energy, a 20 percent increase in Automotive and a 13 percent increase in Intermodal revenues over last year. Revenues from Chemicals & Petroleum and Industrial & Consumer grew by 11 percent and four percent respectively over last year’s second quarter.

KCS saw a decrease in revenues from Agriculture and Minerals, which decline by 18 percent, due to droughts and a decrease in grain volumes. 

 

CN_red_logoCanadian National Railway (CN) announced July 22 that profits are up for the second quarter 2013 over the same quarter of 2012. Net income for the second quarter was C$717 million or C$1.69 per diluted share. Net income for the same quarter last year was only C$631 million or C$1.44 per diluted share.

CN reported a net gain of C$13 million that resulted from a gain on a non-monetary transaction with another railway. Excluding this transaction, it’s reported that CN saw an increase of diluted earnings per share (EPS) of 11 percent to C$1.66 for the second quarter. The same quarter last year was at C$1.50.

Revenues saw an increase of five percent to C$2,666 million that was reportedly driven by a five percent increase in revenue ton-miles and a two percent increase in carloadings.

CN reported that operating income increased six percent to C$1,042 million with an operating ratio (defined as operating expenses as a percentage of revenue) improvement of 0.4 of a point to 60.9 percent.

“We executed strongly during the second quarter, with service and operating metrics on a steady improvement trend. This performance underscores our agenda of Operational and Service Excellence, which is key to achieve solid revenue growth at low incremental cost. … Despite slower volume growth than anticipated, the CN team will maintain a keen focus on growing revenues faster than the overall economy as well as on tightly managing costs to meet our full-year financial outlook,” said President and Chief Executive Officer Claude Mongeau. 

 

ns_LogoNorfolk Southern (NS) announced Tuesday, July 23 an 11 percent decrease in income for the second quarter 2013. Income was at $465 million for the second quarter of 2013 whereas they were at $524 million for the same quarter of 2012.

Diluted earnings per share were at $1.46, nine percent lower than they were in 2012 at $1.60 per diluted share.

The operating revenues for the railroad came in at $2.8 billion, three percent lower than in 2012. However, the operating ratio came in at 70.2 percent, which is four percent higher than the ratio reported for the second quarter of 2012.

Fuel surcharges came in at $306 million, $59 million less than last year’s reported amounts. General merchandise revenues rose to two percent to $1.6 billion. Coal revenues fell 17 percent to $626 million due to lower average revenue per unit and a four percent decline in volumes. NS reported that Intermodal revenues increased four percent to $588 million and volumes increased five percent due to continued domestic and international growth.

“In the second quarter, Norfolk Southern delivered solid results, supported by growth in our chemicals, intermodal, and automotive businesses, despite continuing weakness in the coal markets,” CEO Wick Moorman state. “We continue to focus on service efficiency and velocity, which is enabling us to control operating expenses and deliver superior performance to our customers.”

 

cp-logo-240Canadian Pacific (CP) reports record highs in operating ratio Wednesday, July 24. The operating ratio came in at 71.9 percent, a 1,060 basis-point improvement and an all-time quarterly record for the railroad.

Operating income came in at C$420 million, an increase over the second quarter of last year by 76 percent.

Total revenues for CP were C$1.5 billion, an increase of ten percent; also a quarterly record. Operating expenses were low at C$1.1 billion, a decrease of four percent. CP reported a net income of C$252 million or C$1.43 per diluted share.

The second quarter of 2012 had a net income of only C$103 million or C$0.60 per share. The second quarter of 2013 had a 138 percent improvement in year-over-year earnings per share.