Posts Tagged ‘UP’

Class I carriers report 2020 first quarter earnings

Net Earnings: Decreased 5% to $1.19 billion.
Revenue: Decreased 6% to $5.4 billion.
Operating Income: Increased 2% to $1.8 billion.
Operating Expenses:Decreased 6.7% to $3.6 billion.
Operating Ratio: Improved by 4 points to 65.2%.

Link to read BNSF’s full earnings report.

 

Net Earnings: Increased to C$1.01 billion from C$786 million.
Earnings Per Share: Diluted earnings per share increased 31% to C$1.42 from C$1.08 and adjusted diluted EPS increased by 4% to C$1.22.
Revenue: Remained flat at C$3.5 billion.
Operating Income: Increased to C$1.215 million from C$1.08 billion.
Operating Expenses: Decreased 5% to C$2.33 billion from C$2.46 billion.
Operating Ratio: Improved by 3.8 points to 65.7%; Adjusted operating ratio improved 1.5 points to 65.7% from 67.2%.

Link to read CN’s full earnings report.

 

Net Earnings: Decreased to C$409 million from C$434 million.
Earnings Per Share: Diluted earnings per share decreased 4% to $2.98; adjusted diluted earnings per share increased 58% to $4.42.
Revenue: Increased 16% to C$2.04 billion from C$1.77 billion.
Operating Income: Increased 54% to C$834 million from C$534 million.
Operating Expenses: Decreased to C$1.209 billion from C$1.224 billion.
Operating Ratio: Improved 1,010 basis points to 59.2%.

Link to read CP’s full earnings report.

 

Net Earnings: Decreased 8% to $770 million from $834 million.
Earnings Per Share: Decreased 2% to $1.00.
Revenue: Decreased 5% to $2.85 billion from $3.01 billion.
Operating Income: Decreased 3% to $1.17 billion from $1.22 billion.
Operating Expenses: Decreased 7% to $1.68 billion.
Operating Ratio: Improved to a first quarter record of 58.7% from 59.5%

Link to read CSX’s full earnings report.

 

Net Earnings: Increased to $151.7 million from $102.7 million.
Earnings Per Share: Increased to $1.58 per diluted share from $1.02.
Revenue: Increased 8% to a record $731.7 million from $674.8 million
Operating Income: Increased to $288.8 million from $160.3 million.
Operating Expenses: Decreased to $442.9 million from $514.5 million
Operating Ratio: Improved 15.7 points to 60.5% from 76.2%; adjusted operating ratio improved 6.5 points to 59.7% from 66.2%

Link to read KCS’s full earnings report.

 

Net Earnings: Decreased 44% to $381 million from $677 million.
Earnings Per Share: Diluted earnings per share decreased to $1.47 from $2.51.
Revenue: Decreased to $2.63 billion from $2.8 billion.
Operating Income: Decreased to $568 million from $966 million.
Operating Expenses: Increased to $2.06 billion from $1.87 billion.
Operating Ratio: Declined to 78.4% from 66.0%.

Link to read NS’s full earnings report.

 

Net Earnings: Increased to $1.5 billion from $1.4 billion.
Earnings Per Share: Increased to $2.15 per diluted share from $1.93 per diluted share
Revenue: Decreased 3% to $5.2 billion from $5.4 billion
Operating Income: Increased 9% to $2.14 billion from $1.96 billion
Operating Expenses: Decreased 10% to $3.09 billion from $3.4 billion
Operating Ratio: Improved 4.6 points to 59.0% from 63.6%

Link to read UP’s full earnings report.

 


Notes: 

  • 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 first-quarter results for each railroad.
  • All figures for CN & CP are in Canadian currency, except for earnings per share for CP

COVID-19 hits close to home: UP worker tests positive

Union Pacific has announced that a 50-year-old man that works in UP’s Bailey Yard in North Platte, Neb., has tested positive for COVID-19. The employee and a number of co-workers who came into contact with him are currently quarantined at home.

It’s suspected that the man got the virus while traveling to California and vacationing on a cruise ship. UP reports that the man’s work areas have been disinfected and sanitized.

“It’s unfathomable that rail carriers have not yet implemented all CDC guidelines regarding sanitation and COVID-19 prevention efforts from the outset,” SMART Transportation Division President Jeremy Ferguson said. “We are making every effort during this Federal Railroad Administration-declared emergency to get our membership and rail workers the protections they need.”

The man’s name has not been released.

Click here to read more from The North Platte Telegraph or from NBC Nebraska.

Class I carriers release 4th quarter & full year 2019 earnings reports

 

 

4th Quarter 2019
Net Earnings: Increased 4% to $1.42 billion from $1.37 billion
Earnings Per Share: n/a – BNSF is not publicly traded
Revenue: Decreased 6% to $5.84 billion from $6.21 billion
Operating Income: Increased 2% to $2.11 billion from $2.06 billion
Operating Expenses: Decreased 10% to $3.73 billion from $4.14 billion
Operating Ratio: Improved to 62.8% from 65.6%

2019 Annual Earnings
Net Earnings: Increased 5% to $5.5 billion from $5.2 billion
Earnings Per Share: n/a – BNSF is not publicly traded
Revenue: Decreased 1% to $23.5 billion from $23.9 billion
Operating Income: Increased 3% to $8.1 billion from $7.8 billion
Operating Expenses: Decreased 4% to $15.4 billion from $16.1 billion
Operating Ratio: Improved to 64.5% from 66.2%

Click here to read BNSF’s full earnings report.

 

4th Quarter 2019
Net Earnings: Decreased 24% to C$873 million from C$1.14 billion
Earnings Per Share: Diluted earnings per share decreased 22% to $1.22 from $1.56
Revenue: Decreased 6% to C$3.6 billion from C$3.8 billion
Operating Income: Decreased 16% to C$1.22 billion from C$1.45 billion
Operating Expenses: Increased to C$2.36 billion from C$2.35 billion
Operating Ratio: Worsened by 4.1 points to 66% from 61.9%

2019 Annual Earnings
Net Earnings: Decreased 3% to C$4.2 billion from C$4.3 billion
Earnings Per Share: Diluted Earnings Per Share decreased 1% to $5.83 from $5.87
Revenue: Increased 4% to C$14.9 billion from C$14.3 billion
Operating Income: Increased 2% to C$4.6 billion from C$5.5 billion
Operating Expenses: Increased from C$8.8 billion to C$9.3 billion
Operating Ratio: Worsened 0.9 points to 62.5% from 61.6%

Click here to read CN’s full earnings report.

 

4th Quarter 2019
Net Earnings: Increased 22% to C$664 million from C$545 million
Earnings Per Share: Diluted earnings per share improved 26% to $4.82 from $3.83
Revenue: Increased 3% to C$2.07 billion from C$2.01 billion
Operating Income: Increased 2% to C$890 million from C$874 million
Operating Expenses: Increased 4% to C$1.18 billion from C$1.13 billion
Operating Ratio: Worsened 50 basis points to 57.0% from 56.5%

2019 Annual Earnings
Net Earnings: Increased 25% to C$2.44 billion from C$1.95 billion
Earnings Per Share: Diluted EPS increased 29% to a record $17.52 from $13.61
Revenue: Increased 7% to a record C$7.79 billion from C$7.32 billion
Operating Income: Increased 10% to C$3.12 billion from C$2.83 billion
Operating Expenses: Increased 4% to C$4.65 billion from C$4.49 billion
Operating Ratio: Improved 140 basis points to 59.9% from 61.3%

Click here to read CP’s full earnings report.

 

4th Quarter 2019
Net Earnings: Decreased 9% from $848 million to $771 million
Earnings Per Share: Decreased from $1.01 to $0.99 per share
Revenue: Decreased 8% to $2.89 billion from $3.14 billion
Operating Income: Decreased 8% to $1.15 billion from $1.25 billion
Operating Expenses: Decreased 9% to $1.73 billion from $1.9 billion
Operating Ratio: A fourth-quarter record of 60.0%, down from 60.3%

2019 Annual Earnings
Net Earnings: Increased 1% to $3.33 billion from $3.31 billion
Earnings Per Share: Increased 9% to $4.17 per share from $3.84 per share
Revenue: Decreased 3% to $11.94 billion from $12.25 billion
Operating Income: Increased 2% to $4.97 billion from $4.87 billion
Operating Expenses: Decreased 6% to $6.97 billion from $7.38 billion
Operating Ratio: A U.S. Class I railroad record of 58.4%, down from 60.3%

Click here to read CSX’s full earnings report.

 

4th Quarter 2019
Net Earnings: Decreased to $127.9 million from $161.8 million
Earnings Per Share: Decreased 18% to $1.30 per diluted share from $1.59 per diluted share
Revenue: Increased 5% to $729.5 million from $694.0 million
Operating Income: Decreased to $236.0 million from $256.4 million
Operating Expenses: Increased to $493.5 million from $437.6 million
Operating Ratio: Worsened 450 basis points to 67.6% from 63.1%

2019 Annual Earnings
Net Earnings: Decreased to $540.8 million from $629.4 million
Earnings Per Share: Decreased 12% to $5.40 per diluted share from $6.13 per diluted share
Revenue: Increased 6% to $2.9 billion from $2.7 billion
Operating Income: Decreased to $886.3 million from $986.3 million
Operating Expenses: Increased to $1.98 billion from $1.73 billion
Operating Ratio: Worsened 540 basis points to 69.1% from 63.7%

Click here to read KCS’s full earnings report.

 

4th Quarter 2019
Net Earnings: Decreased 5% to $666 million from $702 million
Earnings Per Share: Decreased 1% to $2.55 per diluted share from $2.57 per diluted share
Revenue: Decreased 7% to 2.7 billion from $2.9 billion
Operating Income: Decreased 11% to $1.0 billion from $1.1 billion
Operating Expenses: Decreased 5% to $1.7 billion from $1.8 billion
Operating Ratio: Worsened to 64.2% from 62.8%

2019 Annual Earnings
Net Earnings: Increased 2% to $2.72 billion from $2.67 billion
Earnings Per Share: Increased 8% to $10.25 per diluted share from $9.51 per diluted share
Revenue: Decreased 1% to $11.3 billion from $11.5 billion
Operating Income: Increased 1% to $3.989 billion from $3.959 billion
Operating Expenses: Decreased 3% to $7.3 billion from $7.5 billion
Operating Ratio: Improved to a record 64.7% from 65.4%

Click here to read NS’s full earnings report.

 

4th Quarter 2019
Net Earnings: Decreased 10% to $1.4 billion from $1.6 billion
Earnings Per Share: Decreased 5% to $2.02 per diluted share from $2.12 per diluted share
Revenue: Decreased 9% to $5.2 billion from $5.8 billion
Operating Income: Decreased 5% to $2.1 billion from $2.2 billion
Operating Expenses: Decreased 12% to $3.1 billion from $3.5 billion
Operating Ratio: Increased 1.9 points to a record 59.7% from 61.6%

2019 Annual Earnings
Net Earnings: Decreased 1% to $5.91 billion from $5.97 billion
Earnings Per Share: Increased 6% to $8.38 per diluted share from $7.91 per diluted share
Revenue: Decreased 5% to $21.7 billion from $22.8 billion
Operating Income: Stayed flat at $8.6 billion
Operating Expenses: Decreased 8% to $13.2 billion from $14.3 billion
Operating Ratio: Decreased 2.1 points to 60.6% from 62.7%

Click here to read UP’s full earnings report.

 


Notes: 

  • 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 2018’s fourth quarter and annual financial results respectively for each railroad.
  • All figures for CN & CP are in Canadian currency, except for earnings per share

Class I’s release 2019 3rd quarter earnings reports

Net Earnings: $1.466 billion, a slight increase from the $1.4 billion in 2018’s third quarter
Revenue: $6.021 billion, a decrease of 2% from the same period in 2018
Operating Income: $1.9 billion, an increase of 3.3% from the same period in 2018
Operating Expenses: $3.809 billion, a decrease of 4.9% from the same period in 2018
Operating Ratio: Improved to 63.3%

Berkshire Hathaway’s third quarter earnings reports is available in this PDF — the in-depth BNSF analysis begins on Page 35.

 

Net Earnings: Increased to C$1,195 million from C$1,134 million
Diluted Earnings Per Share: Increased 8% to $1.66 from $1.44
Revenue: Increased 4% to C$3.830 million from C$3,688 million
Operating Income: Increased 8% to C$1,613 million
Operating Expenses: Increased 1% to C$2,217 million from C$2,196 million
Operating Ratio: Improved 1.6 points to 57.9% from 59.5%

Click here to read CN’s full earnings report.

 

Net Earnings: Decreased 1% to C$618 million from C$622 million
Diluted Earnings Per Share: Increased 3% to $4.46 from $4.35
Revenue: Increased 4% to a record C$1.98 billion from C$1.90 billion
Operating Income: Increased 10% to C$869 million from C$790 million
Operating Expenses: Increased to C$1.11 billion from C$1.10 billion
Operating Ratio: Improved 220 basis points to a record-low 56.1% from 58.3%

Click here to read CP’s full earnings report.

 

Net Earnings: Decreased 4% to $856 million from $894 million
Earnings Per Share: Increased 3% to $1.08 per share from $1.05 per share
Revenue: Decreased 5% to $2.98 billion from $3.13 billion
Operating Income: Stayed flat at $1.29 billion
Operating Expenses: Decreased 8% to $1.69 billion from $1.84 billion
Operating Ratio: Improved 1.9 points to a record 56.8% from 58.7%

Click here to read CSX’s full earnings report.

 

Net Earnings: Increased to $180.6 million from $174 million
Diluted Earnings Per Share: Increased 6% to $1.81 from $1.70. Adjusted Diluted EPS increased 24% to a record $1.94 from $1.57
Revenue: Increased 7% to a record $747.7 million from $699.0 million
Operating Income: Increased to $282 million from $265.4 million. Adjusted Operating Income increased 15% to a record $294 million
Operating Expenses: Increased to $465.7 million from $433.6 million
Operating Ratio: Worsened 0.3 points to 62.3% from 62.0%

Click here to read KCS’s full earnings report.

 

Net Earnings: Decreased 6% to $657 million from $702 million
Diluted Earnings Per Share: Decreased 1% to $2.49 from $2.52
Revenue: Decreased 4% to $2.8 billion from $2.9 billion
Operating Income: Decreased $24 million to $1.0 billion
Operating Expenses: Decreased 4% or $82 million to $1.8 billion from $1.9 billion
Operating Ratio: Improved to a third quarter record 64.9% from 65.4%

Click here to read NS’s full earnings report.

 

Net Earnings: Decreased 2% to $1.55 billion from $1.59 billion
Diluted Earnings Per Share: Increased 3% to $2.22 from $2.15
Revenue: Decreased 7% to $5.5 billion from $5.9 billion
Operating Income: Decreased 2% to $2.2 billion from $2.3 billion
Operating Expenses: Decreased 10% to $3.3 billion from $3.7 billion
Operating Ratio: Improved 2.2 points to a quarterly record 59.5% from 61.7%

Click here to read UP’s full earnings report.

 


Notes: 

  • 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 2018’s third quarter results for each railroad.
  • All figures for CN & CP are in Canadian currency, except for earnings per share

 

Carriers release 2019 first-quarter earnings reports

Net Earnings: Increased 9.4% to $1.25 billion
Revenue: Increased 2.5% to $5.57 billion
Operating Income: Increased 2.3% to $1.78 billion
Operating Expenses:Increased 2.5% to $3.79 billion
Operating Ratio: Improved by 2 points to 66.5%

Click here to read BNSF’s full earnings report.

 

Net Earnings: Increased 6% to C$786 million from C$741 million
Earnings Per Share: Diluted earnings per share increased 8% to C$1.08 from C$1.00 and adjusted diluted EPS increased by 17% to C$1.17
Revenue: Increased by 11% to C$3.5 billion from C$3.2 billion
Operating Income: Increased 5% to C$1.08 billion from C$1.03 billion
Operating Expenses: Increased 14% to C$2.5 billion from C$2.2 billion
Operating Ratio: Worsened by 1.7 points to 69.5%; Adjusted operating ratio improved 0.6 points to 67.2%

Click here to read CN’s full earnings report.

 

Net Earnings: Increased 25% to C$434 million from C$348 million
Earnings Per Share: Diluted earnings per share increased 28% to $3.09 from $2.41; adjusted diluted earnings per share increased 3% to $2.79 from $2.70
Revenue: Increased 6% to C$1.77 billion from C$1.66 billion
Operating Income: Increased 1% to C$543 million from C$540 million
Operating Expenses: Increased 9% to C$1.2 billion from C$1.1 billion
Operating Ratio: Worsened 180 basis points to 69.3% from 67.5%

Click here to read CP’s full earnings report.

 

Net Earnings: Increased 20% to $834 million from $695 million
Earnings Per Share: Increased 31% to $1.02 from $0.78 per share
Revenue: Increased 5% to $3.01 billion from $2.9 billion
Operating Income: Increased 17% to $1.22 billion from $1.04 billion
Operating Expenses: Decreased 2% to $1.79 billion from $1.83 billion
Operating Ratio: Improved to a first quarter record of 59.5% from 63.7%

Click here to read CSX’s full earnings report.

 

Net Earnings: Decreased to $103.2 million from $145 million
Earnings Per Share: Decreased 27% to $1.02 from $1.40; adjusted diluted earnings per share increased 18% to $1.54 from $1.30
Revenue: Increased 6% to a record $675 million from $639 million
Operating Income: Decreased to $160.3 million from $219 million; adjusted operating income increased 10% to a record $242 million
Operating Expenses: Decreased to $514.5 million from $515 million
Operating Ratio: Worsened 10.4 points to 76.2% from 65.8%; adjusted operating ratio improved 1.6 points to 64.2% from 65.8%

Click here to read KCS’s full earnings report.

 

Net Earnings: Increased 23% to $677 million from $552 million
Earnings Per Share: Diluted earnings per share increased 30% to $2.51 from $1.93
Revenue: Increased 5% to a first-quarter record of $2.8 billion from $2.7 billion
Operating Income: Increased 16% to a first-quarter record of $966 million from $835 million
Operating Expenses: Decreased by $8 million to $1.874 billion from $1.882 billion
Operating Ratio: Improved to a first-quarter record 66.0% from 69.3%

Click here to read NS’s full earnings report.

 

Net Earnings: Increased 6% to $1.4 billion from $1.3 billion
Earnings Per Share: Increased 15% to $1.93 per diluted share from $1.68 per diluted share
Revenue: Decreased 2% to $5.4 billion from $5.5 billion
Operating Income: Increased 1% to $2.0 billion from $1.93 billion
Operating Expenses: Decreased 3% to $3.4 billion from $3.5 billion
Operating Ratio: Improved 1.0 point to 63.6% from 64.6%

Click here to read UP’s full earnings report.

 


Net Earnings: Decreased to $38.8 million from $76.0 million
Earnings Per Share: Diluted earnings per share decreased 42.9% to $0.68 from $1.19
Revenue: Increased 2.1% to $332.4 million from $325.6 million
Operating Income: Decreased 5.3% to $69.3 million from $73.2 million; adjusted operating income decreased 4.2% to $70.3 million from $73.4 million
Operating Expenses: Increased to $263.1 million from $252.5 million
Operating Ratio: Worsened to 79.1% from 77.5%; adjusted operating ratio worsened to 78.9% from 77.5%

Click here to read G&W’s full earnings report.

 


Notes: 

  • 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 2018’s first-quarter results for each railroad.
  • Figures for G&W are for North American operations only, with the exception of Net Earnings & Earnings Per Share, which includes all G&W operations, as solely North American figures were unavailable in these categories.
  • All figures for CN & CP are in Canadian currency, except for earnings per share for CP

Retirees: Stock tax refunds could cause reduction in your monthly annuity

In a recent decision (Wisconsin Central Ltd., et al v. United States), the U.S. Supreme Court ruled that non-qualified stock options granted to railroad employees are not considered compensation under the Railroad Retirement Tax Act of 1937, and are, therefore, not subject to taxation.

As a result, certain railroad employers and employees who previously paid railroad retirement taxes based on the exercise of such stock options may be eligible for tax refunds through the Internal Revenue Service (IRS).

Railroad employees and railroad retirement annuitants considering filing for such a tax refund should know that doing so may reduce the amount of their total creditable railroad compensation. Under the Railroad Retirement Act (RRA), creditable compensation is a factor in the computation of a railroad retirement annuity. A reduction in compensation could cause a reduction in an annuitant’s monthly benefit rate, and may result in an overpayment. For active employees, a change in creditable compensation may impact any estimated annuity amounts they were previously given by the Railroad Retirement Board (RRB).

At this time, the RRB is able to provide guidance to only a select group of individuals trying to determine if their total creditable railroad compensation will be reduced and/or if their annuity amounts will change as a result of claiming refunds of taxes paid on non-qualified stock options. That group is comprised of those individuals who have been identified by their railroad employers as employees whose regular earnings met the maximum compensation taxable caps without the inclusion of the stock option payment. In those cases, if the employees file claims for refunds of taxes paid on the stock option payment, payment of the refund will not impact their annuity rate computations. Employees who believe they are members of this group should review their consent letters to confirm whether they have been reported by their employers to be a “Medicare Tax Only” employee. If you are uncertain whether you are a “Medicare Tax Only” employee, please contact your railroad employer. Employees may also call the RRB’s toll-free number at 877-772-5772 if there are any other questions.

The RRB is currently unable to provide guidance to individuals not in the above group. The agency’s three-member board (appointed by the President with the advice and consent of the Senate, and representing rail labor, rail management and the public interest) has the authority to determine what effect, if any, the court’s decision will have on the RRB’s administration of the RRA. However, the position of chairman of the board is currently vacant, and the management member of the board must recuse himself from this issue as he previously worked for a railroad and received non-qualified stock options. The labor member of the board alone lacks statutory authority to make a decision, as a two-member quorum is required by law.

It is expected that in the first quarter of 2019, the agency will get a three-member board in place that will be able to make policy decisions related to this matter. The RRB is currently in discussions with the IRS to determine if it is possible to hold open the period for railroad employees and retirees to file claims for tax refunds until such time as the RRB gets a three-member board in place. The RRB would then be better able to provide information regarding the effect on RRB benefits to those needing assistance.

Read more about how to apply for the refunds and court decision.

Third quarter 2018 financial results have been released by Class I railroads

Net Earnings: Increased 34 percent to $1.4 billion
Revenue: Increased 16 percent to $6.1 billion
Operating Income: Increased 9 percent to $2.1 billion
Operating Expenses: Increased 20 percent to $4.0 billion
Operating Ratio: Increased 2.1 points to 64.5 percent

Click here to read BNSF’s full earnings report.

 

Net Earnings: Increased 18 percent to C$1,134 million
Earnings Per Share: Diluted earnings per share increased 21 percent to C$1.54
Revenue: Increased 14 percent to a record C$3,688 million
Operating Income: Increased 8 percent to C$1,492 million
Operating Expenses: Increased 19 percent to C$2,196
Operating Ratio: Increased 2.3 points to 59.5 percent

Click here to read CN’s full earnings report.

 

Net Earnings: Increased 22 percent to C$622 million
Earnings Per Share: Diluted earnings per share increased 24 percent to a record C$4.35
Revenue: Increased 19 percent to a record C$1.9 billion
Operating Income: Increased 27 percent to C$790 million
Operating Expenses: Increased 14 percent to C$1,108 million
Operating Ratio: Decreased 270 points to a record low of 58.3 percent

Click here to read CP’s full earnings report.

 

Net Earnings: Increased 106 percent to $894 million
Earnings Per Share: Increased to $1.05 per share from $0.51 per share
Revenue: Increased 14 percent to $3.13 billion
Operating Income: Increased 49 percent to $1.29 billion
Operating Expenses: Declined 2 percent to $1,84 billion
Operating Ratio: Improved 970 basis points to a record 58.7 percent

Click here to read CSX’s full earnings report.

 

Net Earnings: Increased to $174 million from $129 million
Earnings Per Share: Diluted earnings per share increased 38 percent to $1.70
Revenue: Increased 6 percent to a record $699 million
Operating Income: Increased 14 percent to $265 million
Operating Expenses: Increased to $433.6 million from $422.8 million
Operating Ratio: Improved 2.4 basis points to 62 percent

Click here to read KCS’s full earnings report.

 

Net Earnings: Increased 39 percent to $702 million
Earnings Per Share: Diluted earnings per share increased 44 percent to a third quarter record of $2.52
Revenue: Increased 10 percent to $2.9 billion
Operating Income: Increased 14 percent to a third quarter record of $1.0 billion
Operating Expenses: Increased 9 percent to $1.9 billion
Operating Ratio: Declined 1.1 basis points to a record 65.4 percent

Click here to read NS’s full earnings report.

 

Net Earnings: Increased from $1.2 billion to $1.6 billion
Earnings Per Share: Increased 43 percent from $1.50 to a record $2.15 per diluted share
Revenue: Increased 10 percent to $5.9 billion
Operating Income: Increased 9 percent to $2.3 billion
Operating Expenses: Increased 10 percent from $3.3 billion to $3.7 billion
Operating Ratio: Stayed flat at 61.7 percent

Click here to read UP’s full earnings report.

 

Financial results of the largest shortline:
 

Net Earnings: Increased to $69.6 million from $50.2 million
Earnings Per Share: Increased 45 percent to $1.16
Revenue: Increased 11.5 percent to $355.7 million from $318.9 million
Operating Income: Increased 24.7 percent to $102.5 million, up from $82.2 million
Operating Expenses: Increased to $253,225 from $236,724
Operating Ratio: Improved 3 points to 71.2 percent from 74.2 percent

Click here to read G&W’s full earnings report.

 


Notes: 

  • 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 2017’s third quarter financial results for each railroad.
  • Figures for G&W are for North American operations only with the exception of Net Earnings & Earnings Per Share, which includes all G&W operations, as solely North American figures were unavailable in these categories.

Railroads release 2nd quarter earnings reports

Net Earnings: Increased 27 percent to C$1,310 million; diluted earnings per share increased 30 percent to C$1.77

Revenue: Increased 9 percent to C$3,631 million

Operating Income: Increased 7 percent to C$1,519 million

Operating Ratio: Increased 0.7 points to 58.2 percent (worsened as compared to the same period in 2017, but an improvement from the first quarter 2018)

Click here to read CN’s full earnings report.

 

Net Earnings: Decreased 9 percent to C$436 million from C$480 million; Diluted earnings per share declined 7 percent to C$3.04, down from C$3.27

Revenue: Increased 7 percent to C$1.75 billion from C$1.64 billion

Operating Income: Increased 3 percent to C$627 million

Operating Ratio: Increased 140 basis points to 64.2 as compared to last year’s 62.8 percent

Click here to read CP’s full earnings report.

 

Net Earnings: $877 million or $1.01 per share, up from $510 million or $0.55 per share

Revenue: Increased 6 percent to $3.10 billion

Operating Income: Increased 34 percent to $1.28 billion from $957 million

Operating Ratio: An all time company quarterly record of 58.6 percent as compared to last year’s 67.4 percent

Click here to read CSX’s full earnings report.

 

Net Earnings: Increased to $149 million or $1.45 per diluted share, as compared to last year’s $135 million or $1.27 per diluted share. Adjusted diluted earnings per share increased 16 percent to a record $1.54

Revenue: Increased 4 percent to a record $682 million

Operating Income: Increased 3 percent to a record $246 million

Operating Ratio: Increased 0.5 points to 64 percent as compared to 63.5 percent a year ago

Click here to read KCS’s full earnings report.

 

Net Earnings: Increased 43 percent to $710 million; Diluted earnings per share increased 46 percent to $2.50 per share

Revenue: Increased 10 percent to $2.9 billion

Operating Income: Increased 18 percent to a record $1.0 billion

Operating Ratio: A record 64.6 percent

Click here to read NS’s full earnings report.

 

Net Earnings: Increased to $1.5 billion from $1.2 billion, or a record $1.98 diluted earnings per share an increase of 37% from $1.45 per share

Revenue: Increased 5 percent to $2.1 billion

Operating Income: Increased 8 percent to $5.7 billion

Operating Ratio: Increased 1.1 points to 63.0 percent

Click here to read UP’s full earnings report.

 

Financial results of the largest U.S. shortline:

Net Earnings: Decreased to $44.2 million or $0.73 diluted earnings per share from $46 million or $0.74 per share

Revenue: Increased 7.6 percent to $339.6 million from $315.7 million

Operating Income: Increased 0.7 percent to $80.3 million from $79.7 million

Operating Ratio: Increased 1.6 points to 76.4 percent

Click here to read G&W’s full earnings report.

 


Notes: 

  • 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 2017’s second quarter financial results for each railroad.

Class I’s report first quarter 2018 earnings


Net Earnings: Up 37 percent, to $1.1 billion

Revenue: $5.6 billion, an increase of 8 percent

Operating Income: $1.74 billion, up from $1.58 billion a year ago

Operating Ratio: Increased to 68.5 percent, but down from 69.2 percent a year ago

Click here to read BNSF’s full earnings report. (PDF)

 

Net Earnings: Increased 16 percent to C$741 million from C$884 million; diluted earnings per share decreased by 14 percent to C$1.00 from C$1.16

Revenue: Decreased C$12 million to C$3,194 million from C$3,206 million

Operating Income: Decreased 16 percent to C$1,030 million from C$1,224 million

Operating Ratio: Increased 6.0 points to 67.8 percent from 61.8 percent

Click here to read CN’s full earnings report.

 

Net Earnings: Decreased 19 percent from C$431 million to C$348 million; diluted earnings per share decreased 18 percent to C$2.41 from C$2.93

Revenue: Increased 4 percent to C$1.66 billion from C$1.60 billion

Operating Income: Decreased 11 percent to C$540 million from C$604 million

Operating Ratio: Increased 510 basis points to 67.5 percent

Click here to read CP’s full earnings report.

 

Net Earnings: A record $695 million or $0.78 per share as compared to 2017’s $362 million or $0.39 per share

Revenue: Remained flat at $2.88 billion

Operating Income: Increased 36 percent to $1.04 billion from $769 million from the same quarter in 2017

Operating Ratio: Improved 950 basis points to 63.7 percent from 73.2 percent in 2017

Click here to read CSX’s full earnings report.

 

Net Earnings: Decreased to $145 million or $1.40 diluted earnings per share from $147 million or $1.38 per share

Revenue: Increased 5 percent to a record $639 million, up from $610 million

Operating Income: Increased 4 percent to a record $219 million from $211 million

Operating Ratio: Increased to 65.8 percent from 65.4 percent

Click here to read KCS’ full earnings report.

 

Net Earnings: Increased 27 percent to a record $552 million from $757 million; diluted earnings per share increased 30 percent to a record $1.93 from $1.48

Revenue: Increased 6 percent to $2.7 billion from $2.6 billion

Operating Income: Increased 10 percent to a record $835 million from $757 million

Operating Ratio: A record 69.3 percent down from 70.6 percent

Click here to read NS’ full earnings report.

 

Net Earnings: Increased to $1.3 billion from $1.1 billion; diluted earnings per share increased 27 percent to a record $1.68 from $1.32 per share.

Revenue: Increased 7 percent to $5.5 billion, up from $5.1 billion

Operating Income: Increased 8 percent to $1.9 billion from $1.8 billion

Operating Ratio: Improved 0.6 points to 64.6 percent from 65.2

Click here to read UP’s full earnings report.

 


Notes:

  • 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 2017’s first quarter financial results for each railroad.

Class I’s release 4th quarter & 2017 annual earnings reports

4th Quarter 2017

Net Earnings: $552 million or $5.33 per diluted share, compared with 2016’s $130 million or $1.21 per diluted share
Revenue: 4th quarter record of $660 million, a 10 percent increase
Operating Income: 4th quarter record of $238 million, a 13 percent increase
Operating Ratio: 64.0 percent, 0.8 point improvement over fourth quarter 2016

2017 Annual Earnings

Net Earnings: $964 million or $9.16 per diluted share, as compared to 2016’s $480 million or $4.43 per diluted share
Revenue: A record $2.6 billion, up 11 percent from 2016
Operating Income: A record $922 million, a 13 percent increase
Operating Ratio: A record 64.3 percent, a 0.6 improvement

Click here to read KCS’s full earnings report


4th Quarter 2017

Net Earnings: Increased by 156 percent to C$2,611 million and diluted earnings per share increased by 164 percent to C$3.48
Revenue: Increased 2 percent to C$3,285 million
Operating Income: Decreased by 7 percent to C$1,301 million
Operating Ratio: 60.4 percent, an increase of 3.8 points

2017 Annual Earnings

Net Earnings: Increased 51 percent to C$5,484 million and diluted earnings per share increased 55 percent to C$7.24
Revenue: Increased 8 percent to C$13,041 million
Operating Income: Increased 5 percent to C$5,558 million
Operating Ratio: 57.4 percent, an increase of 1.5 points

Click here to read CN’s full earnings report


4th Quarter 2017

Net Earnings: Increased 156 percent to a record C$984 million from C$384 million and diluted earnings per share increased by 159 percent to C$6.77 from C$2.61
Revenue: A record 4th quarter with an increase of 5 percent to C$1.71 billion, up from C$1.64 billion
Operating Income: Increased 5 percent to C$753 million
Operating Ratio: A record 56.1 percent, an improvement of 10 basis points

2017 Annual Earnings

Net Earnings: Increase of 50 percent to C$2.4 billion
Revenue: Increased 5 percent to C$6.55 billion from C$6.23 billion
Operating Income: Increased 8 percent to C$2.8 billion from C$2.6 billion
Operating Ratio: Improved 40 basis-points to a record 58.2 percent from 58.6 percent

Click here to read CP’s full earnings report


4th Quarter 2017

Net Earnings: $4.1 billion or $4.62 per share, up from $458 million or $0.49 per share
Revenue: Decreased 6 percent to $2,863 million from $3,037 million
Operating Income: Increased by 12 percent to $1.12 billion from $1.00 billion
Operating Ratio: Improved 6.1 basis points to 60.9 percent from 67.0 percent

2017 Annual Earnings

Net Earnings: Increased 219% to $2.3 billion from $1.02 billion
Revenue: Increased by 3 percent to $11.4 billion, up from $11.07 billion
Operating Income: $3.7 billion, up 8 percent from $3.4 billion
Operating Ratio: 67.9 percent, improvement from 69.4 percent

Click here to read CSX’s full earnings report


4th Quarter 2017

Net Earnings: Increased 17 percent to $3,968 million and diluted earnings per share (EPS) increased 19 percent to $13.79 (adjusted EPS is a record $1.69)
Revenue: Increased 7 percent to $2,669 million from $2,490 million
Operating Income: Increased 13 percent to $1,014 million from $761 million
Operating Ratio: 62.0 percent, improved over 67.7 percent

2017 Annual Earnings

Net Earnings: Increased 15 percent to $5,404 million and increased 18 percent to a record diluted earnings per share of $18.61 (or $6.61 adjusted EPS)
Revenue: Increased 7 percent to $10.6 billion from $9.89 billion
Operating Income: Increased 12 percent to $3,586 million from $3,074 million
Operating Ratio: Improved by 2 percent to a record 67.4 percent from 68.9 percent

Click here to read NS’s full earnings report


4th Quarter 2017

Net Earnings: Increased to $7.3 billion or $9.25 per diluted share as compared to $1.1 billion or $1.39 per diluted share
Revenue: Increased 5 percent to $5.5 billion from $5.2 billion
Operating Income: Increased 4 percent to $2,039 million from $1,965 million
Operating Ratio: Improved 0.6 points to 62.6 percent from 62.0 percent

2017 Annual Earnings

Net Earnings: $10.7 billion or $13.36 earnings per share, from $4.2 billion or $5.07 per diluted share
Revenue: Increased to $21.2 billion from $19.9 billion
Operating Income: $7.8 billion from $7.3 billion, an 8 percent increase
Operating Ratio: Improved 0.5 points to 63 percent from 63.5 percent

Click here to read UP’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.

Railroad Safety Subject of four NTSB Safety Recommendations

WASHINGTON (Jan. 11, 2018) — The National Transportation Safety Board (NTSB) issued four railroad related safety recommendations in concert with the agency’s publication of two railroad accident briefs Thursday, Jan. 11.

The recommendations and briefs stem from the NTSB’s investigations of a railroad employee fatality in Kansas City, Kansas, and a derailment near Heimdal, N.D. The accidents are unrelated.

Recommendation to Union Pacific concerning employee fatality

A Union Pacific Railroad (UP) foreman died after being struck by a remote-control train during switching operations at the east end of Armourdale Yard, Kansas City, Sept. 29, 2015. The NTSB determined the probable cause of the accident was the foreman being in the gage of the track, for unknown reasons, while a train switching movement was being performed by another crew. The report also states inadequate radio communications and inadequate work coordination between crews working in the yard contributed to the accident.

In the course of the investigation the NTSB learned Union Pacific employees received frequent, non-critical, man-down alarms which the NTSB believes likely reduced the attention and reaction crewmembers made to actual critical alarms.

A man-down alarm is an audible warning transmitted of the yard’s radio channels from a remote-control unit (used to remotely control locomotives in the yard) indicating the remote-control unit is not in a vertical position and its operator may be in danger. As a result of the investigation the NTSB issued a safety recommendation to the Union Pacific Railroad to develop and implement a modification to the man-down alarms that would allow workers to differentiate between legitimate and non-critical alarms.

Recommendation to BNSF concerning derailment

A broken wheel led to the derailment of six of the 107 loaded tank cars carrying crude oil in a Burlington Northern Santa Fe crude (BNSF) oil unit train May 6, 2015, near Heimdal, N.D. No injuries or fatalities were reported in connection with the derailment, however five of the derailed tank cars breached, releasing about 96,400 gallons of crude oil. A fire ensued, forcing the evacuation of about 30 people from Heimdal and the surrounding area due to the smoke plume.

The NTSB determined the left wheel, in the second position on car 81 was broken due to a vertical split rim which led to catastrophic failure of the wheel due to multiple overstress fractures.

As a result of the investigation the NTSB issued two safety recommendations to the Federal Railroad Administration (FRA) to research and evaluate wheel impact load thresholds and to mandate remedial actions for railroads to avoid or identify mechanical defects identified by wheel impact load detectors.

A third recommendation was issued to both the FRA and the Association of American Railroads (AAR) seeking collaboration in evaluation of safe peak vertical load thresholds to determine remedial actions for suspected defective wheel conditions in high-hazard flammable train service.


The Heimdal, North Dakota, railroad accident brief is available online at http://go.usa.gov/xndbK and the Kansas City, Kansas, railroad accident brief is available at https://go.usa.gov/xndbN.

3rd quarter financial results released by Class I’s

 

 

 

 

 

Net Earnings: $459 million or $0.51 per share, up from $455 million or $0.49 per share for the same period last year

Revenue: Increased 1 percent to $2,743 million

Operating Income: Improved 4 percent to $876 million

Operating Ratio: Improved 90 basis points to 68.1 percent

Click here to read CSX’s full earnings report.

 

 

 

 

 

 

 

 

Net Earnings: Increased to $130 million or $1.23 per diluted share

Revenue: Increased 9 percent to $657 million

Operating Income: Increased 17 percent to $234 million, a third quarter record

Operating Ratio: Improved 2.5 points to 64.4 percent, a third quarter record

Click here to read KCS’s full earnings report.

 

 

 

 

 

Net Earnings: Increased 47 percent to C$510 million or 50 percent to C$3.50 diluted earnings per share

Revenue: Increased 3 percent to C$1.6 billion, up from C$1.55 billion

Operating Income: Increased 5 percent to C$690 million, up from C$657 million

Operating Ratio: Improved 100 basis points to 56.7 percent from 57.7 percent

Click here to read CP’s full earnings report.

 

 

 

 

 

 

 

 

Net Earnings: Increased to $1.2 billion or $1.50 per diluted share

Revenue: Up 5 percent from $5.4 billion

Operating Income: Increased 3 percent to $2.0 billion

Operating Ratio: Increased 0.7 points to 62.8 percent

Click here to read UP’s full earnings report.

 

 

 

 

 

Net Earnings: Decreased 1 percent to C$958 million, while diluted earnings per share increased 2 percent to C$1.27

Revenue: Increased 7 percent to C$3,221 million

Operating Income: Increased 4 percent to C$1,459 million

Operating Ratio: Increased 1.4 points to 54.7 percent

Click here to read CN’s full earnings report.

 

 

 

 

Net Earnings: Up 10 percent to $506 million or diluted earnings per share up 13 percent to $1.75

Revenue: Increased 6 percent to $2.7 billion

Operating Income: Up 11 percent to $911 million

Operating Ratio: 65.9 percent, a quarterly record

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.