Posts Tagged ‘Norfolk Southern Corp.’

Class I carriers report 2020 second quarter earnings

Net Earnings: Decreased to $1.131 billion from $1.338 billion.
Revenue: Decreased to $4.602 billion from $5.893 billion.
Operating Income: Decreased to $1.73 billion from $2.007 billion.
Operating Expenses:Decreased to $2.872 billion from $3.886 billion.
Operating Ratio: Improved by 3.7 points to 61.1%.

Link to read BNSF’s full earnings report.

 

Net Earnings: Decreased to C$908 million from C$1.25 billion.
Earnings Per Share: Diluted earnings per share decreased 59% to C$0.77 from C$1.88 and adjusted diluted EPS decreased 26% to C$1.28 from C$1.73.
Revenue: Decreased 19% to C$3.21 billion from C$3.96 billion.
Operating Income: Decreased 53% to C$785 million from C$1.27 billion.
Operating Expenses: Increased 6% to C$2.42 billion.
Operating Ratio: Declined by 18 points to 75.5%; adjusted operating ratio declined 2.9 points to 60.4% from 57.5%.

Link to read CN’s full earnings report.

 

Net Earnings: Decreased to C$635 million from C$724 million.
Earnings Per Share: Diluted earnings per share decreased 10% to $4.66; adjusted diluted earnings per share decreased 5% to $4.30.
Revenue: Decreased 9% to C$1.79 billion from C$1.98 billion.
Operating Income: Decreased to C$770 million from C$822 million.
Operating Expenses: Decreased to C$1.02 billion from C$1.16 billion.
Operating Ratio: Improved 140 basis points to 57%.

Link to read CP’s full earnings report.

 

Net Earnings: Decreased to $499 million from $870 million.
Earnings Per Share: Decreased to $0.65 from $1.08.
Revenue: Decreased 26% to $2.26 billion from $3.06 billion.
Operating Income: Decreased 37% to $828 million from $1.31 billion.
Operating Expenses: Decreased 19% to $1.43 billion from $1.76 billion.
Operating Ratio: Declined 5.9 points to 63.3%.

Link to read CSX’s full earnings report.

 

Net Earnings: Decreased to $109.7 million from $128.7 million.
Earnings Per Share: Decreased to $1.16 per diluted share from $1.28.
Revenue: Decreased to $547.9 million from $714 million.
Operating Income: Decreased to $180.4 million from $208 million.
Operating Expenses: Decreased to $367.5 million from $506 million.
Operating Ratio: Improved 3.8 points to 67.1% from 70.9%; adjusted operating ratio worsened 1.5 points to 65.2% from 63.7%.

Link to read KCS’s full earnings report.

 

Net Earnings: Decreased to $392 million from $722 million.
Earnings Per Share: Diluted earnings per share decreased to $1.53 from $2.70.
Revenue: Decreased 29% to $2.1 billion from $2.9 billion.
Operating Income: Decreased to $610 million from $1.1 billion.
Operating Expenses: Decreased 21% to $1.5 billion from $1.9 billion.
Operating Ratio: Worsened to 70.7% from 63.6%.

Link to read NS’s full earnings report.

 

Net Earnings: Decreased to $1.13 billion from $1.57 billion.
Earnings Per Share: Decreased to $1.67 per diluted share from $2.22 per diluted share.
Revenue: Decreased 24% to $4.2 billion from $5.6 billion.
Operating Income: Decreased 28% to $1.13 billion from $1.57 billion.
Operating Expenses: Decreased 22% to $2.59 billion from $3.34 billion.
Operating Ratio: Worsened 1.4 points to 61.0% from 59.6%.

Link to read UP’s full earnings report.

 


Notes: 

  • BNSF’s earnings report had not been released as of July 29, 2020. This post will be updated when the information becomes available.
  • 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.
  • All comparisons are made to 2019’s second-quarter results for each railroad.
  • All figures for CN & CP are in Canadian currency, except for earnings per share for CP

Norfolk Southern sues crew involved in collision

Norfolk Southern has sued in federal court an engineer and conductor who were aboard a freight train than collided with another NS train last month in Scott County, Ky.

According to the Lexington Herald-Leader, the suit claims the crew ignored a signal and failed to reduce the speed of their moving train and prevent the March 18 collision with a stopped train.

NS’s lawsuit seeks compensation from the crew for damages caused by the collision, which destroyed two locomotives and caused 13 cars to derail, the newspaper reported.

Read the full story at the Lexington Herald-Leader’s website.

Online fundraiser begun for crew hurt in N.Y. derailment

An online fundraising effort has been started for a SMART TD conductor and an engineer who were severely injured Feb. 15 when their train derailed in Attica, N.Y.

Conductor Ben Garland of Local 1566 out of Buffalo, N.Y., and engineer Dave Tobey were hospitalized after their Norfolk Southern locomotive left the tracks and caught fire.

The fundraiser is available here: https://www.gofundme.com/dave-bens-railroad-medical-fund

Proceeds from the fund will be divided evenly among the men’s families as they recover from their injuries, which include fractures, spinal trauma and facial injuries.

A Local 1566 member who said he didn’t want to be named said he went to visit the accident site and couldn’t believe what he saw.

“I’ve never seen anything like it,” he said.

Online video footage from a drone posted by WHAM TV Channel 13 out of Rochester N.Y. shows a sinkhole underneath the tracks at the accident site. Local authorities said the cause of the derailment was under investigation.

Members have been pulling together to help the families of both men as they begin the road to recovery from their injuries.

“The families have been astonished by the amount of support,” said the Local 1566 member. “We’ve worked with these people — they’re family.”

NS hostile to CP acquisition bid

ns_LogoU.S. railroad operator Norfolk Southern Corp all but rejected a $28.4 billion acquisition offer by Canadian Pacific Railway Ltd on Tuesday, calling it “low-premium” and warning it would face significant regulatory hurdles.

While Norfolk Southern said it would carefully evaluate the offer, its sour response represents a setback to Canadian Pacific as well as its largest shareholder, William Ackman’s activist hedge fund Pershing Square Capital Management LP.

Read more from Reuters.