{"id":19239,"date":"2013-02-07T14:46:00","date_gmt":"2013-02-07T14:46:00","guid":{"rendered":"http:\/\/utu.org\/?p=19239"},"modified":"2013-02-07T14:46:00","modified_gmt":"2013-02-07T14:46:00","slug":"railroads-report-mixed-4q-yearly-earnings","status":"publish","type":"post","link":"https:\/\/www.smart-union.org\/railroads-report-mixed-4q-yearly-earnings\/","title":{"rendered":"Railroads report mixed 4Q, yearly earnings","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
CANADIAN NATIONAL<\/strong><\/p>\n Canadian National Railway reported its income in the fourth quarter of 2012 was $613.8 million, increasing three percent from $595.7 million in the fourth quarter of 2011.<\/p>\n For the full year of 2012, profit was $2.7 billion, up eight percent from $2.5 billion in 2011. Yearly revenue increased by 10 percent to $10.0 billion.<\/p>\n CN\u2019s operating ratio improved to 62.9 percent for the year.\u00a0Operating ratio is a railroad\u2019s 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.<\/p>\n 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.<\/p>\n CANADIAN PACIFIC<\/strong><\/p>\n Canadian Pacific Railway reported net income of $15 million for the fourth quarter, down 93 percent from the $221 million it earned for the same period last year.<\/p>\n The operating ratio was 96 percent in the fourth quarter if all the unusual items are included and 74.8 percent on an adjusted basis.<\/p>\n Canadian Pacific is primarily a Canadian railroad. Its U.S. holdings include Class I Soo Line and regional railroad Delaware & Hudson.<\/p>\n CSX<\/strong><\/p>\n Increases in merchandise and intermodal shipments were slightly offset by declines in coal haulage, so CSX reported earnings of $1.9 billion for calendar-year 2012 compared to $1.8 billion for calendar-year 2011. Fourth-quarter revenue of $2.9 billion was down two percent from the comparable quarter in 2011<\/p>\n \u201cCSX continues to demonstrate the underlying strength of its business model, the ability to respond quickly to significant events in the marketplace, and a steadfast focus on creating substantial shareholder value over the long term,\u201d CSX Chairman, President and CEO Michael Ward said.<\/p>\n CSX operates some 21,000 route miles in 23 states and the District of Columbia.<\/p>\n KANSAS CITY SOUTHERN<\/strong><\/p>\n Kansas City Southern\u2019s operating income for the fourth quarter of 2012 was $174 million, compared with $150 million a year ago, a 15 percent increase. For the year, revenue rose from $2.1 billion to a company record $2.2 billion, and net income rose from $328.7 million to $377.1 million.<\/p>\n \u201cThe company successfully navigated its way through a host of challenging economic and climatic issues to make 2012 one of the best years in its 125-year history,\u201d said President and CEO David Starling.<\/p>\n 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.<\/p>\n NORFOLK SOUTHERN<\/strong><\/p>\n Norfolk Southern reported fourth-quarter 2012 net income of $413 million, compared with $480 million earned in the fourth quarter of 2011. Net income for 2012 was $1.7 billion, compared with $1.9 billion earned in 2011.<\/p>\n The railway operating ratio increased three percent to 73.4 percent during the fourth quarter and rose one percent to 71.7 percent for 2012 compared with the same periods of 2011.<\/p>\n Norfolk Southern operates some 20,000 route miles in 22 states and the District of Columbia.<\/p>\n UNION PACIFIC<\/strong><\/p>\n Union Pacific\u2019s fourth-quarter profit chugged ahead seven percent because the railroad raised shipping rates and collected more fuel surcharges.<\/p>\n For all of last year, UP\u2019s net income surged 20 percent to $3.94 billion on revenue of $20.93 billion. That\u2019s up from 2011\u2019s $3.29 billion on revenue of $19.56 billion.<\/p>\n UP\u2019s operating ratio in 2012 was 67.8 percent, improving 2.9 points compared to 2011.<\/p>\n Union Pacific operates some 32,000 route miles in 23 states in the western two-thirds of the U.S.<\/p>\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"excerpt":{"rendered":" CANADIAN NATIONAL Canadian National Railway reported its income in the fourth quarter of 2012 was $613.8 million, increasing three percent from $595.7 million in the fourth quarter of 2011. Revenue in the fourth quarter increased by seven percent year-over-year to $2.5 billion. For the full year of 2012, profit was $2.7 billion, up eight percent […]<\/p>\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"author":9,"featured_media":13907,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[9,18],"tags":[1794,1795,1796],"member_types":[],"acf":[],"yoast_head":"\nRevenue in the fourth quarter increased by seven percent year-over-year to $2.5 billion.<\/p>\n
Revenue improved nearly seven percent during the quarter to $1.5 billion on the back of a one-percent improvement in carloads and a four-percent increase in revenue ton miles.<\/p>\n
CSX\u2019s operating ratio increased 60 basis points to 72.1 percent in the fourth quarter, but for the full year, the operating ratio improved 30 basis points to 70.6 percent.<\/p>\n
For the full year, KCS\u2019 operating ratio was 69.9 percent, a 2.2-point improvement to the full year 2011 operating ratio of 72.1 percent.<\/p>\n
Income from railway operations was $714 million, 11 percent lower compared with fourth-quarter 2011, and $3.1 billion for 2012, three percent lower compared with 2011.<\/p>\n
The carrier reported earnings of $1.04 billion during the quarter, compared to $964 million in the fourth quarter 2011. Revenue grew three percent to $5.25 billion. UP said its coal shipments were down 17 percent and agricultural volume was off by nine percent. Shipments of chemicals and automotive products grew 14 percent and nine percent, respectively.<\/p>\n