Willis In a victory for safety, the Federal Railroad Administration (FRA) denied a request by Kansas City Southern Railroad (KCSR) to outsource brake inspections to Mexico, the AFL-CIO’s Transportation Trades Department (TTD) reports. “In its decision, the FRA correctly told KCSR that their request – which TTD and our rail unions strongly opposed – was ‘not in the public interest or consistent with railroad safety.’ We could not agree more,” said TTD President Larry I. Willis. In 2008, the FRA granted KCSR conditional regulatory relief of 49 C.F.R. § 232.205 (a)(1) and 49 C.F.R. Part 215. In lieu of conducting the required inspections at the International Bridge interchange, the FRA allowed KCSR to move freight cars received in interchange from KCSR’s Mexican operations across the U.S./Mexico border to KCSR’s yard in Laredo without performing a full Class I brake test at the border. One of the conditions set by the FRA was that KCSR must perform Class III brake tests (set and release) at the International Bridge interchange. In their petition to the FRA, dated May 31, 2018, KCSR requested that the Class III brake tests be performed at their Mexican Nuevo Laredo and Sanchez Yards instead of at the interchange. In their request, KCSR maintained that it would be safer to perform the tests at the Mexican yards due to vandalism while the trains are stopped and blocked Mexican crossings, however, KCSR offered no specific evidence demonstrating any safety or security risks of performing the Class III tests at the interchange. “FRA cannot approve KCSR’s request to move the test to its affiliate KCSM’s (Kansas City Southern de México Railway) yards 9 miles across the border within Mexico. …The Board is denying KCSR’s May 31, 2018, request to modify the existing relief in this docket because KCSR has not demonstrated that a modification is in the public interest or consistent with railroad safety,” the FRA’s Robert C. Lauby, associate administrator for railroad safety, said in his response letter to KCSR, dated March 8, 2019. “The FRA’s decision is a step in the right direction, but it is not enough,” Willis said. “Last year, the FRA granted KCSR permission to operate trains with crews from Mexico to Laredo, nine miles across the border. This decision was made without input from the public or any guarantee U.S. safety standards are being met.” SMART TD and BLET sent a joint letter to U.S. DOT opposing the decision to allow KCSR to operate Mexican train crews within the United States. Click here for related documents, including KCSR’s 2007 and 2018 requests and FRA’s responses. Click here for the full press release from the TTD. Click here to read about SMART TD’s opposition to Mexican crews operating inside the U.S.
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.
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.
CLEVELAND, Ohio (Sept. 5, 2018) – The Brotherhood of Locomotive Engineers and Trainmen (BLET) and the International Association of Sheet Metal Air, Rail and Transportation Workers Transportation Division (SMART TD) have filed a joint petition challenging actions of the Federal Railroad Administration (FRA) that allow crews comprised of Mexican nationals employed by a Mexican rail company to operate trains across the United States border and into the U.S. instead of American crews employed by American railroads. Since July 9, the FRA has allowed foreign crews from Kansas City Southern de Mexico (KCSM), a railroad based in Mexico and subsidiary of Kansas City Southern (KCS), to cross into the U.S. and run trains on the Texas Mexican Railway Company (“Tex-Mex”) line in Laredo, Texas. BLET and SMART TD maintain that this violates long-established federal laws and regulations regarding safety, training, crew qualifications and conduct of locomotive engineers and conductors operating freight trains in the U.S. The FRA is an agency of the U.S. Department of Transportation (DOT), which also is named as a respondent in the petition. “The Petitioners challenge this conduct as arbitrary and capricious, an abuse of discretion, in excess of the Respondents’ statutory authority and otherwise contrary to law,” the petition states. There has been no order, waiver, public notice or documentation published by the FRA regarding the actions being challenged. The unions seek to set aside the agencies’ actions and to require that they divulge all internal records detailing the authorization of the practice, including the vetting of the non-U.S. crewmembers by FRA, and the decision to allow KCSM, a foreign company not incorporated in the United States, to operate across the border into this country. “FRA’s conduct has generated significant safety concerns,” BLET National President Dennis R. Pierce said. “U.S. crews are held to the highest safety standards while crews coming in from Mexico are held to much lower standards in terms of certification, testing and operating experience. This degradation in safety is unacceptable. Beyond that, while American companies outsourcing jobs to foreign countries is nothing new, all Americans should be angered by this job giveaway on our own soil.” “We deem it to be unsafe, we deem it to be a threat to American jobs. FRA has not been able to answer simple questions regarding certification and qualification of the foreign crews. Nor have they explained in any way how they plan to enforce American safety rules to hold the foreign crews to the same high safety standards that govern all American railroad workers,” SMART Transportation Division President John Previsich said. “We are not going to let FRA stand aside and ignore their responsibilities while a Class I carrier allows foreign crews to cross the border and jeopardize the safety of our members and the American public.” The petition was filed in U.S. Court of Appeals for the District of Columbia Circuit. Follow this link to view this release in PDF form.
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.
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.
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.
By a margin of nearly four to one, SMART Transportation Division members have voted to APPROVE the new National Rail Contract. The voting was conducted by BallotPoint Election Services, who certified the following results for each craft eligible to vote:
CRAFT
ACCEPT
REJECT
Conductors
79.89%
20.11%
Brakemen
78.98%
21.02%
Engine Service
76.58%
23.42%
Yardmen
79.97%
20.03%
Yardmaster
86.68%
13.32%
Combined
79.57%
20.43%
The approved contract will have an effective date of December 1, 2017, with implementation of new pay rates and employee healthcare cost-sharing modifications planned for January 1, 2018. Employees’ monthly healthcare contributions will remain frozen at $228.89 for the life of the contract. The term of the agreement is for five years, from January 1, 2015 to December 31, 2019. In addition to a 3% increase previously negotiated and already implemented on January 1, 2015, the contract provides for full retroactive pay of 2% from July 1, 2016 through June 30, 2017, and 4% from July 1, 2017, until implementation of the new rates. Thereafter, affected members will receive a boost in wage rates of 2.5% on July 1, 2018, and 3% on July 1, 2019. The ratified contract will cover over 35,000 SMART TD members employed by BNSF, CSX, Norfolk Southern, Kansas City Southern, Union Pacific and numerous smaller carriers, all of whom were represented in this round of bargaining by the rail industry’s National Carriers’ Conference Committee. The SMART TD negotiating team was led by President John Previsich, who was assisted in the negotiations by Vice Presidents David Wier, John Lesniewski, Troy Johnson, John England, Doyle Turner and Jeremy Ferguson, along with General Chairpersons Danny Young (BNSF), Mark Cook (NS), Brent Leonard (UP) and Steve Mavity (CSX), all four of whom are nationally elected TD officers in addition to serving as General Chairpersons. For this round of bargaining, SMART TD joined forces with five other unions to form the Coordinated Bargaining Group. The other unions in the CBG are the American Train Dispatchers Association; the Brotherhood of Locomotive Engineers and Trainmen (a Division of the Rail Conference of the International Brotherhood of Teamsters); the Brotherhood of Railroad Signalmen; the International Brotherhood of Boilermakers, Iron Ship Builders, Blacksmiths, Forgers, and Helpers and the National Conference of Firemen and Oilers/SEIU. President Previsich commented: “I believe that our negotiating team, along with the teams from the other unions in the CBG, are to be commended for staying the course during a long and tedious round of negotiations. The easy thing for them to do when the going got tough was to declare defeat and walk away from the negotiating table, as others have done, but our team never wavered. By rejecting the carriers’ unreasonable demands while staying at the table and continuing to negotiate, the team was successful in obtaining an agreement that achieved an approval rate of 79.57%.”
###
The SMART Transportation Division, formerly the United Transportation Union, is the largest rail union in the United States representing members in all operating crafts, including engineers, conductors, trainmen, switchmen and yardmasters.
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.
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.
Net Earnings: $458 million or $0.49 per share, up from $466 million or $0.48 per share in 2015’s 4th quarter Revenue: Increased by 9 percent to $3,037 billion Operating Income: Increased to $1 billion over last year’s $791 million Operating Ratio: 67 percent, an improvement over last year’s 71.6 percent
2016 Annual Earnings
Net Earnings: Decreased to $1.7 billion or $1.81 earnings per share, down from $1.96 billion or $2.00 per share in 2015 Revenue: Decreased to $11.1 billion from $11.8 billion in 2015 Operating Income: Decreased $3.4 billion from $3.6 billion in 2015 Operating Ratio: 69.4 percent Click here to read CSX’s full earnings report
4th Quarter 2016
Net Earnings: Net income increased by 20 percent to C$3.84 million; diluted earnings per share increased 25 percent to C$2.61 from fourth quarter 2015’s reported C$2.08 Revenue: Decreased 3 percent to C$1.64 billion from C$1.69 billion Operating Income: Increased 6 percent to C$717 million over fourth quarter 2015’s C$677 million Operating Ratio: 56.2 percent, a record low
2016 Annual Earnings
Net Earnings: Net income increased by 18 percent to C$1.6 billion from C$1.4 billion; diluted earnings per share increased 27 percent to C$10.63 from C$8.40 Revenue: Decreased 7 percent to C$6.23 billion from 2015’s reported C$6.71 billion Operating Income: Decreased 4 percent from 2015’s C$2.7 billion to C$2.6 billion Operating Ratio: 58.6 percent, a record low Click here to read CP’s full earnings report
4th Quarter 2016
Net Earnings: $1.1 billion or $1.39 per diluted share, an increase of 6 percent Revenue: Down 1 percent to $5.2 billion Operating Income: Up 2 percent to $2.0 billion Operating Ratio: Improved by 1.2 points to 62.0 percent
2016 Annual Earnings
Net Earnings: Decreased by 11 percent to $4.2 billion or 8 percent to $5.07 per diluted share, down from 2015’s reported $4.8 billion or $5.49 per diluted share Revenue: Decreased to $19.9 billion from $21.8 billion Operating Income: Decreased by 10 percent to $7.3 billion Operating Ratio: Increased 0.4 points to 63.5 percent Click here to read UP’s full earnings report
4th Quarter 2016
Net Earnings: Decreased by 5 percent to $130 million or $1.21 earnings per share Revenue: Static at $599 million Operating Income: Decreased by 4 percent to $211 million Operating Ratio: 64.8 percent, a 1.4 point increase from 2015’s 4th quarter report of 63.4 percent
2016 Annual Earnings
Net Earnings: $480 million or $4.43 per share, down from 2015’s reported $485 million or $4.40 per share Revenue: Down 3 percent to $2.3 billion Operating Income: Increased by 2 percent to $819 million Operating Ratio: 64.9 percent, a 1.9 point improvement over 2015 Click here to read KCS’s full earnings report
4th Quarter 2016
Net Earnings: Increased 8 percent to C$1,018 million; diluted earnings per share increased 12 percent to C$1.32 Revenue: Increased by 2 percent to C$3,217 million Operating Income: Increased by 3 percent to C$1,395 million Operating Ratio: 56.6 percent, an improvement of 0.6 points
2016 Annual Earnings
Net Earnings: Increased 3 percent to C$3,640 million; diluted earnings per share rose 6 percent to C$4.67 Revenue: Decreased by 5 percent to C$12,037 million Operating Income: Increased 1 percent to C$5,312 million Operating Ratio: Improved 2.3 points to 55.9 percent Click here to read CN’s full earnings report
4th Quarter 2016
Net Earnings: Increased 15 percent to $416 million; diluted earnings per share increased 18 percent to $1.42 Revenue: Decreased 1 percent to $2.5 billion Operating Income: Increased 19 percent to $761 million Operating Ratio: 69.4 percent, a 510 point improvement over 74.5 percent reported for the fourth quarter of 2015
2016 Annual Earnings
Net Earnings: Increased 7 percent to $1.7 billion; diluted earnings per share increased 10 percent to $5.62 Revenue: Decreased by 6 percent to $9.9 billion Operating Income: Increased 7 percent to $3.1 billion Operating Ratio: Improved 370 points to 68.9 percent as compared to 2015’s reported 72.6 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.
