Kansas City Southern Railway Co. (KCSR) has begun employee training and data surveying as part of its effort to implement positive train control (PTC) by year’s end.
Last week, employees began to receive training on PTC track and wayside data management at KCSR’s TEaM Training Center in Shreveport, La. About 160 workers were trained and another group will begin training this week, railroad officials said in an item posted on the “KCS News” web page.
LISBON, N.Y. — A Lisbon Central School graduate is living his dream of working as a railroad conductor at age 19.
Matthew House, a 2013 graduate of LCS, is now conducting trains in Kansas City.
House has been fascinated by trains since age three and even formed a model train club while attending school in Lisbon. He said working on the railroad was something he had always hoped to do and it’s hard for him to believe he has already achieved that goal.
In a press release Oct. 14, CSX announced record third quarter profits. The railroad said that operating income increased 16 percent and operating ratio improved 220 points. Operating income came in at $976 million with an operating ratio of 69.7 percent. CSX also saw volume increases of seven percent.
Revenue increased to $3.2 billion, eight percent over the same period last year. Net earnings were announced at $509 million, up $0.51 per share from the net earnings of $455 million for the third quarter of 2013.
“As the economy continues to expand, the company’s record third-quarter results are built on the foundation of CSX’s network reach, sustainable growth opportunities, and the efforts of our 31,000 employees,” President, Chairman and CEO Michael J. Ward.
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.
Kansas City Southern reports record quarterly revenues and carloads in a press release for the third quarter of 2014. The railroad recorded record revenues of $678 million, an increase of nine percent over the same quarter last year.
Operating income saw a 15 percent increase to $229 million over last year’s third quarter and operating ratio came in at 66.1 percent, a 1.7-point improvement. Net income for the quarter totaled $138 million or $1.25 per diluted share, a 17 percent increase.
The railroad credits the increases to a four percent increase in carloads. Automotive carloads increased by 28 percent, while carloads of industrial and consumer products saw a 13 percent increase.
Operating expenses came in at six percent higher than 2013 expenses. Operating expenses were $448 million for the quarter.
“KCS achieved record quarterly financial results as a result of the continued strength and diversity of our franchise,” President and CEO David L. Starling said. “An operating ratio of 66.1 percent was attained primarily due to volume growth, especially in the automotive and grain commodity groups, as well as system efficiency and cost controls.
“We are optimistic about the remainder of the year and reaffirm our updated 2014 goals outlined to investors in September. Looking ahead, we expect KCS’ long-term growth to be fueled by system-wide opportunities, which position KCS very well over the next several years.”
Canadian Pacific Railway reports record financial results for the third quarter. The company claims the third quarter results are the strongest in the company’s history.
Net income for the railway rose 26 percent to a record C$400 million or C$2.31 per diluted share compared to last year’s third quarter net income of C$324 million or C$1.84 per share. Revenue saw a nine percent increase to a record C$1.670 billion while operating expenses also rose four percent to C$1.049 billion. Operating income rose 19 percent to C$621 million, the highest that the railway has ever seen. Operating ratio fell to a record low of 62.8 percent, an improvement of 310 base points.
“The CP team delivered another quarter of impressive results,” CEO E. Hunter Harrison said. “Going forward, we will continue to execute on our plan of delivering safe, superior service to our customers, focusing on further efficiency and capacity initiatives and building on our solid foundation for growth.
“Despite recent volatility in commodity prices, we are confident in the strength of the franchise and are on track to finish the year with CP’s strongest quarter to date.”
Canadian National Railway reported increases in net income, operating income and revenues for the third quarter. Net income saw a 21 percent increase to C$853 million, up from last year’s C$705 million. Diluted earnings per share came in at C$1.04, also up from last year’s recorded C$0.84 per diluted share.
Operating income for the railway increased 19 percent to C$1,286 million. Revenues and car loadings set all-time quarterly records with revenues increasing 16 percent to C$3,118 million and car loadings increasing 11 percent to 1,475. Revenue ton-miles also grew by 13 percent. CN saw an improvement in operating ratio by one point to 58.8 percent.
“CN delivered outstanding third-quarter financial results while improving customer service levels and maintaining industry-leading operating efficiencies. Solid execution by our team of railroaders enabled us to accommodate the significantly higher freight volume generated by a record Canadian grain crop, strong energy markets and new business, particularly in intermodal and automotive,” President and CEO Claude Mongeau said. “The results underscore CN’s commitment to investing ahead of the curve in resources and rail infrastructure and playing our role as a true backbone of the economy.”
Norfolk Southern reported a 16 percent increase in net income of $559 million for the third quarter. The third quarter of 2013 only saw a net income of $482 million. Diluted earnings per share were also up 17 percent to $1.79 over last year’s $1.53 per diluted share.
Operating revenues saw an increase to $3.0 billion, up seven percent. Income from railway operations also saw an improvement to $998 million, up 18 percent. Operating ratio for the railroad saw an improvement by four percent to 67.0 percent.
“Norfolk Southern reported another record-setting quarter during which we achieved our best third-quarter results in revenues, operating income, net income, earnings per share and operating ratio,” CEO Wick Moorman said. “Higher traffic volumes along with continued gains in productivity drove these excellent results. We remain focused on ensuring we can support continued demand for freight rail transportation by hiring additional employees, investing in new equipment, and completing capacity projects in order to provide our customers with the freight rail service they expect today and in the future.”
Union Pacific railroad reports record financial results are at an all-time high for the third quarter in a press release Oct. 23. Net income came in at a $1.4 billion or $1.53 per diluted share, a 23 percent improvement. Last year’s results for the same quarter were at $1.15 billion or $1.24 per diluted share.
Operating revenues increased 11 percent to $6.2 billion versus the $5.6 billion the railroad saw in the same quarter last year. Operating income also saw an increase to $2.3 billion, up 19 percent over last year’s numbers. Operating ratio saw an improvement of 2.5 points to 62.3 percent.
The railroad attributes these new records to a seven percent increase in revenue carloads, a coal volumes increase and volume incre ases in agricultural products, industrial products, intermodal, automotive and chemicals.
“Union Pacific achieved record quarterly financial results, leveraging the strengths of our diverse franchise to handle strong volume growth,” CEO Jack Koraleski said. “As we continue to focus on improving our service, we are encouraged by the accomplishments we achieved in the quarter, including a two and a half point improvement in our operating ratio to a record 62.3 percent.”
CSX reported to the public its first quarter 2014 earnings and dividend increase. The railroad announced net earnings of $398 million or $.040 per share. This is a decrease from last year’s first quarter reports of $462 million or $0.45 per share.
However, revenue for the quarter grew two percent to $3 billion on volume increases of three percent, with strength in merchandise markets and intermodal offsetting the declines in coal shipments.
Operating income for the railroad declined 16 percent to $739 million, while operating ratio increased 520 basis points to 75.5 percent, due to harsh weather. CSX estimates that weather interruptions in service increased expenses by around six cents per share. Optimistically, CSX expects modest full-year earnings growth in 2014.
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.
“The company is indebted to the dedicated men and women of CSX who worked tirelessly through one of the worst winters on record to keep the network running as fluidly as possible,” Chairman, President and CEO Michael J. Ward. “Thanks to the hard work of our employees, service levels are gradually recovering, and we are capitalizing on an economy that continues to show positive momentum.”
In an announcement made April 16, Kansas City Southern reported record first quarter revenues and carloads. Revenues for the first quarter were $607 million, an increase of 10 percent more than last year’s first quarter. The railroad also saw a four percent increase in carloads for the quarter.
Operating income came in at $160 million, but excluding lease termination costs, adjusted operating income came in at $190 million, a 17 percent increase over last year’s first quarter. The railroad saw an operating ratio of 73.7 percent or an adjusted operating ratio of 68.7 percent. This is a 1.8-point improvement over last year.
Diluted earning per share came in at $0.85 or adjusted diluted earnings per share were at $1.05 for the first quarter of 2014. This is an 18 percent increase over the first quarter of 2013. Net income came in at $94 million.
“We are pleased with how our company performed during the first quarter,” President and CEO David L. Starling said. “All six commodity groups reported year-over-year revenue gains led by Agriculture and Minerals, which increased 40 percent over the prior year. Later in the first quarter, we also recorded higher than expected utility coal volumes and revenues as a result of higher natural gas prices, which made coal a more competitive option benefitting certain plants we serve.
“While it is still early in the second quarter, KCS business levels have improved in April. The indication that our core business appears to be gaining strength provides us with positive momentum towards achieving the 2014 goals we outlined to investors in January.”
Union Pacific reported a record first quarter in an earnings announcement made April 17. The railroad reports a net income of $1.1 billion or $2.38 per diluted share, up from the first quarter 2013 reports of $957 million or $2.03 per diluted share. Taht is a 17 percent increase over last year.
Operating revenues totaled $5.6 billion, up seven percent over last year’s first quarter operating revenue of $5.3 billion. Business volumes, which are measured by total revenue carloads, increased five percent. Agricultural products, industrial products, coal, intermodal and automotive all increased in volume for the quarter. Freight revenue increased a total of six percent for the quarter.
Operating ratio for the railroad was at 67.1 percent, a first quarter record and 2.0 points better than the first quarter of 2013. Operating income was up 14 percent to $1.85 billion.
“As we look forward, we’re watching the economy very closely, as well as the potential impacts of weather, particularly on our coal and grain business,” Jack Koraleski, CEO, said. “There’s still a lot of year ahead of us, but we are seeing signs of gradual economic improvement, and we’re encouraged by the opportunities it presents. With the power and potential of the Union Pacific franchise, we’ll leverage these opportunities to drive record financial performance and shareholder returns this year and in the years to come.
“We’re proud of the efforts of the men and women of Union Pacific, who worked tirelessly to serve our customers despite these weather challenges and helped us achieve such a solid start to the year.”
In an announcement made early April 22, Canadian Pacific said the first quarter of 2014 had the best first quarter financial results in the company’s history.
The company saw a 16 percent increase in year-over-year improvement in earnings per share with a reported C$254 million or C$1.44 per diluted share. The first quarter of 2013 only reported C$217 million or C$1.24 per share.
Total revenues for the railway came in at C$1,509 million, an increase of one percent over last year’s first quarter. Operating expenses saw a four percent decrease to C$1,086 million. While operating income saw a 17 percent increase to C$423 million. Operating ratio also saw an improvement to 72.0 percent, a 380 basis point improvement.
“CP delivered solid results in a period that was severely impacted by extraordinary cold and severe winter weather conditions,” CEO E. Hunter Harrison said. “In the face of such difficult operating conditions, I am particularly proud of the women and men of CP who remained on the job 24/7, to keep the railway operating.
“Despite a slow start to the year and the reduced capacity which limited our ability to meet strong customer demand, we still have the utmost confidence in our ability to achieve our financial targets for 2014.”
Canadian National railway reported increases in revenues in a teleconference held late April 22. The railway reports a net income for the first quarter 2014 of C$623 million or C$0.75 per diluted share. Net income for the same quarter of 2013 was only at C$555 million or C$0.65 per diluted share.
The company saw a five percent increase of operating income to C$820 million. Revenues saw a nine percent increase to C$2,693 million, while revenue ton-miles also saw a five percent increase and carloads saw a one percent increase.
Operating ratio for the railway deteriorated 1.2 points to 69.6 percent. The previous year’s quarter reported operating ratio at 68.4 percent. Free cash flow for the first quarter of this year came in at C$494 million, quite an increase over last year’s C$151 million.
“CN delivered solid first quarter results thanks to a dedicated team of railroaders who labored long and hard to keep us rolling through the harshest winter in decades,” CEO and President Claude Mongeau said. “The winter of a lifetime took its toll on network capacity and affected all of our customers, but I’m pleased that CN’s recovery is now well underway, with key safety, operating and service metrics returning to pre-winter levels.
“Witch continued focus on supply chain collaboration and solid execution, CN is reaffirming its 2014 financial outlook and increasing its capital envelope to C$2.25 billion in support of its commitment to growth, efficiency and safety.”
Norfolk Southern reported its first quarter financial results April 23. Net income for the railroad saw a decrease to $368 million or $1.17 per diluted share for the first quarter 2014. Net income for the same quarter of 2013 was at $450 million or $1.41 per diluted share. Although, $60 million or $0.19 per diluted share of the $450 million was due to a gain from a land sale.
Operating revenues for the railroad totaled $2.7 billion, a two percent decrease from first quarter 2013. Shipment volumes also decreased by one percent during the quarter. Income from railway operations came in at $667 million, three percent lower than last year.
Operating expenses for the first quarter came in at $2 billion, a one percent decrease from the same quarter of 2013. Operating ratio for the railroad was 75.2 percent versus 74.8 percent for the same period last year.
“Following the extreme winter weather across the U.S. rail network which impacted first-quarter results, we are seeing a rebound in shipments across all of our business,” said Wick Moorman, CEO. “Our people responded admirably to meet the challenges of the harsh conditions, and we remain focused on delivering superior service to our customers.”
In an opinion released July 25, the U.S. District Court in Shreveport, La., ruled that the decision by Kansas City Southern Railway to install two inward-facing cameras in the cabs of its locomotives presents a “minor” dispute under the Railway Labor Act, paving the way for the railroad to install the cameras immediately.
The “minor” dispute ruling is significant because the Railway Labor Act prevents unions from exercising self-help over minor disputes.
The finding by Judge Elizabeth Erny Foote against the SMART Transportation Division and the Brotherhood of Locomotive Engineers and Trainmen was that the KCS had an arguable contractual justification for its actions. According to the ruling, the contractual justification is based on the carrier’s existing use of stationary surveillance cameras in various train yards and other locations, inward-facing cameras in crew vans that transport KCS crews to and from train assignments, and procedures for monitoring and recording phone calls between train crew employees and crew management regarding reporting to work.
The judge also held that it was not “frivolous to argue that the safety challenges posed by employees using personal electronic devices on the job necessitate the camera and review system proposed by KCSR.”
Once it was determined the case was a “minor” dispute, the two unions argued for a “status quo” injunction pending resolution of the dispute before an arbitrator. Judge Foote denied the argument.
SMART Transportation Division President Mike Futhey expressed displeasure with the ruling saying, “Unfortunately, the law now is such that it is quite difficult to get a judge to find that a major dispute exists in these type situations. The fight is not over. We will continue to press the issue to protect our members’ rights. We believe that an arbitrator looking at this situation will see it as an extreme overreach by the carrier.”
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 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.
Kansas 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.
Canadian 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.
Norfolk 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.”
Canadian 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.
The following was written by former UTU Director of Public Relations Frank N. Wilner.
“Here’s looking at you, kid,” is a cherished line from the movie Casablanca, but when the looking is through a hidden camera lens in the locker room or even visibly trained on crewmembers inside a locomotive cab, well, you won’t hear the more famous line, “This could be the start of a beautiful friendship.”
In fact, Kansas City Southern Railway, the Brotherhood of Locomotive Engineers and Trainmen, and the United Transportation Union are heading to federal court over the railroad’s announcement it intends to install inward facing cameras in its locomotive cabs as a safety overlay to monitor crew behavior and train-handling techniques.
BNSF reported a 22 percent increase in profit for the third quarter 2012 versus third quarter 2011, citing improved intermodal (trailers and containers on flat cars) and automotive traffic.
BNSF’s third quarter 2012 operating ratio of 68.3 percent was a significant improvement over the 71.7 percent for third quarter 2011. 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.
BNSF operates in 28 states and two Canadian provinces
Canadian National reported a less than one percent drop in profit for the third quarter 2012 versus third quarter 2011.
CN’s third quarter 2012 operating ratio of 60.6 percent increased from 59.3 percent from third quarter 2011. 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.
CN is primarily a Canadian railroad. Its U.S. holdings include what were formerly Detroit, Toledo & Ironton; Elgin, Joliet & Eastern; Grand Trunk Western; Illinois Central; and Wisconsin Central.
Canadian Pacific reported a 20 percent improvement in profit for the third quarter 2012 versus third quarter 2011. The railroad attributed the improvement to cost cuts, efficiency improvements and an increase in automotive traffic.
CP’s third quarter 2012 operating ratio of 74.4 was an improvement from the 75.8 percent operating ratio for third quarter 2011. 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.
Canadian Pacific is primarily a Canadian railroad. Its U.S. holdings include Class I Soo Line and regional railroad Delaware & Hudson.
CSX reported a 2 percent drop in profit for the third quarter 2012 versus third quarter 2011, citing lower overall freight volume and lower fuel-cost recovery even as export coal, automotive and intermodal shipments (trailers and containers on flat cars) showed increases.
The CSX third quarter 2012 operating ratio of 70.5 percent was virtually unchanged from the 70.4 percent for third quarter 2011. 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 operates some 21,000 route miles in 23 states and the District of Columbia.
Kansas City Southern reported a 9.8 percent drop in profit for the third quarter 2012 versus third quarter 2011, even as carloads rose and operating ratio improved. The railroad cited as the reason an almost 70 percent higher tax bill in Mexico stemming from a rise in the value of the peso against the dollar and continuing rebuilding expenses two years after Hurricane Alex damaged rail facilities south of the border. About half the railroad’s revenue flows from its operations in Mexico.
KCS’s third quarter 2012 operating ratio of 68.7 was a 2.6 percentage point improvement from third quarter 2011 and the best in company history. 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.
KCS operates some 3,500 route miles in 10 states in the Central and South-Central U.S., as well as Kansas City Southern de Mexico, a primary Mexican rail line.
Norfolk Southern reported a 27 percent decline in profit for third quarter 2012 versus third quarter 2011, citing reductions in coal and merchandise volume. The slump in coal shipments has resulted in employee furloughs.
NS’s third quarter 2012 operating ratio of 72.9 was a more than five percentage point increase over the third quarter 2011 operating ratio of 67.5. 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.
Norfolk Southern operates some 20,000 route miles in 22 states and the District of Columbia.
Union Pacific profit rose 15 percent in third quarter 2012 compared with third quarter 2011. The railroad said price increases and more automotive and chemical shipments overcame a drop in coal loadings.
Union Pacific’s third quarter 2012 operating ratio of 66.6 percent was 2.5 percentage points better than third quarter 2011, and a 0.4 percentage point improvement from the previous record set in the second quarter 2012.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.
Union Pacific operates some 32,000 route miles in 23 states in the western two-thirds of the U.S.
BNSF reported a 16 percent increase in profit for the second quarter 2012 versus second quarter 2011.
BNSF’s second quarter 2012 operating ratio of 71.1 percent was a more than 3 percentage point improvement over second quarter 2011. 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.
BNSF operates in 28 states and two Canadian provinces
Canadian National reported a 17 percent increase in profit for the second quarter 2012 versus second quarter 2011. The railroad said its revenue was helped by a nine-day strike at Canadian Pacific – the additional traffic overcoming declines in coal, fertilizer and grain shipments.
CN’s second quarter 2012 operating ratio of 61.3 was unchanged from second quarter 2011. 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.
CN is primarily a Canadian railroad. Its U.S. holdings include what were formerly Detroit, Toledo & Ironton; Elgin, Joliet & Eastern; Grand Trunk Western; Illinois Central; and Wisconsin Central.
Canadian Pacific reported 20 percent drop in profit for the second quarter 2012 versus second quarter 2011, citing a nine-day strike.
CP’s second quarter 2012 operating ratio weakened to 82.5 percent from the second quarter 2011 operating ratio of 81.7. 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.
Canadian Pacific is primarily a Canadian railroad. Its U.S. holdings include Class I Soo Line and regional railroad Delaware & Hudson.
CSX reported a 1.2 percent improvement in profit for the second quarter 2012 versus second quarter 2011. CSX said a 27 percent jump in automotive traffic and an 8 percent increase in trailers and containers offset a significant decline in coal traffic volume.
The CSX second quarter 2012 operating ratio of 68.7 percent was an improvement over the 69.3 percent operating ratio for the second quarter 2011. 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 operates some 21,000 route miles in 23 states and the District of Columbia.
Kansas City Southern reported a 70 percent improvement in profit for the second quarter 2012 versus second quarter 2011, citing a gain from financial restructuring along with a 23 percent boost in trailers and containers and a 15 percent gain in automotive revenue, which overcame a 24 percent drop in coal traffic.
KCS’s second quarter 2012 operating ratio of 70.5 was 1.2 percentage point improvement over the second quarter 2011 operating ratio of 71.7. 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.
KCS operates some 3,500 route miles in 10 states in the Central and South-Central U.S., as well as Kansas City Southern de Mexico, a primary Mexican rail line.
Norfolk Southern reported a 5.9 percent slide in profit for the second quarter 2012 versus second quarter 2011. Coal is a major source of revenue for Norfolk Southern, and a 15 percent plunge in coal revenue could not be offset by increases in revenue from automotive and chemicals traffic and trailers and containers.
NS’s second quarter 2012 operating ratio of 67.5 – a record quarterly low for the railroad — was a significant two-percentage-point improvement from the 69.5 percent operating ratio in second quarter 2011. 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.
Norfolk Southern operates some 20,000 route miles in 22 states and the District of Columbia.
Union Pacific profit rose 28 percent in second quarter 2012 compared with second quarter 2011. The railroad said higher freight rates and fuel surcharges, along with growing demand, offset weak coal volume. UP said it was the “best-ever quarterly results.”
Union Pacific’s second quarter 2012 operating ratio of 67.0 percent was a 4.3 percentage point improvement over the 71.3 percent operating ratio for the second quarter 2011. 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.
Union Pacific operates some 32,000 route miles in 23 states in the western two-thirds of the U.S.
BNSF second quartaer results have not yet been reported.
BNSF reported a 15 percent increase in profit forf the first quarter 2012 versus first quarter 2011, citing improved pricing and higher fuel surcharges.
BNSF’s first quarter 2012 operating ratio of 74.4 percent was one percentage point lower than for the first quarter 2011. 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.
BNSF operates in 28 states and two Canadian provinces.
Canadian National reported a 16 percent increase in profit for the first quarter 2012 versus first quarter 2011, saying its bottom line was helped by a mild winter and improved economic conditions.
CN’s first quarter 2012 operating ratio of 66.2 percent was almost 3 percentage points better than its 69.0 operating ratio for the first quarter 2011. 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.
CN is primarily a Canadian railroad. Its U.S. holdings include what were formerly Detroit, Toledo & Ironton; Elgin, Joliet & Eastern; Grand Trunk Western; Illinois Central; and Wisconsin Central.
Canadian Pacific reported a 318 percent increase in profit for the first quarter 2012 versus first quarter 2011.
The key was a more than 10 percentage point improvement in CP’s operating ratio, which fell to 80.1 percent for the first quarter 2012 – down from 90.6 for the first quarter 2011. 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.
Canadian Pacific is primarily a Canadian railroad. Its U.S. holdings include Class I Soo Line and regional railroad Delaware & Hudson.
Even with sharply reduced coal loadings, CSX reported a 14 percent increase in profit for the first-quarter 2012 versus first-quarter 2011. CSX credited price hikes and increased shipments of automobiles, metals and intermodal (trailers and containers on flatcars) as the reason.
CSX said coal loadings for the quarter were down 14 percent, but automobile and auto-related traffic rose 18 percent.
The CSX first-quarter 2012 operating ratio of 71.1 percent was a record for the first 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 operates some 21,000 route miles in 23 states and the District of Columbia.
Kansas City Southern reported a 17 percent improvement in profit for the first quarter 2012 versus first quarter 2011, with the railroad citing “robust” intermodal and automotive traffic along with “growing cross-border traffic with Mexico.”
KCS’s first quarter 2012 operating ratio of 71.2 was 2.6 percentage points improved from its operating ratio for the first quarter 2011. 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.
KCS operates some 3,500 route miles in 10 states in the Central and South-Central U.S., as well as Kansas City Southern de Mexico, a primary Mexican rail line.
Norfolk Southern reported a 26 percent improvement in profit for the first quarter 2012 versus first quarter 2011, citing pricing strength and an increase in intermodal traffic that offset a 6 percent reduction in coal traffic.
NS’s first quarter 2012 operating ratio of 73.3 was improved from the 74.9 percent operating ratio for first quarter 2011. 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.
Norfolk Southern operates some 20,000 route miles in 22 states and the District of Columbia.
Union Pacific reported a 35 percent improvement in profit for the first quarter 2012 versus first quarter 2011, with the railroad citing a 15 percent increase in shipments of automobiles and gains in the number of carloads of other industrial products that offset dampening demand for coal transport.
UP’s first quarter 2012 operating ratio of 70.5 was 4.2 percentage points better than for the first quarter 2011. 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.
Union Pacific operates some 32,000 route miles in 23 states in the western two-thirds of the U.S.
Kansas City Southern Railway Co. (KCSR) has begun employee training and data surveying as part of its effort to implement positive train control (PTC) by year’s end.
In a press release Oct. 14, CSX announced record third quarter profits. The railroad said that operating income increased 16 percent and operating ratio improved 220 points. Operating income came in at $976 million with an operating ratio of 69.7 percent. CSX also saw volume increases of seven percent.
Canadian Pacific Railway reports record financial results for the third quarter. The company claims the third quarter results are the strongest in the company’s history.
Canadian National Railway reported increases in net income, operating income and revenues for the third quarter. Net income saw a 21 percent increase to C$853 million, up from last year’s C$705 million. Diluted earnings per share came in at C$1.04, also up from last year’s recorded C$0.84 per diluted share.
Norfolk Southern reported a 16 percent increase in net income of $559 million for the third quarter. The third quarter of 2013 only saw a net income of $482 million. Diluted earnings per share were also up 17 percent to $1.79 over last year’s $1.53 per diluted share.
Union Pacific railroad reports record financial results are at an all-time high for the third quarter in a press release Oct. 23. Net income came in at a $1.4 billion or $1.53 per diluted share, a 23 percent improvement. Last year’s results for the same quarter were at $1.15 billion or $1.24 per diluted share.