April 26 (Reuters) - Union Pacific Corp reported a 22.2 percent rise in first-quarter profit on Thursday as the No. 1 U.S. railroad benefited from higher freight revenue. The Omaha, Nebraska-based company said net income rose to $1.31 billion, or $1.68 per share, in the latest quarter from $1.07 billion, or $1.32 per share, a…
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(Adds details, estimates, shares) April 26 (Reuters) - Union Pacific Corp reported a better-than-expected quarterly profit on Thursday, as the No. 1 U.S. railroad gained from higher freight revenue. Overall freight revenue rose 6.8 percent in the first quarter, led by a 14.6 percent jump from its energy segment, the company said. Overall volumes, as…
OMAHA, Neb. (AP) — Norfolk Southern Corp. hauled in 27 percent more profit in the first quarter as the railroad delivered 3 percent more freight and increased prices. The Norfolk, Virginia-based company said it earned $552 million, or $1.93 per share, in the first quarter, but the volume increase led to slower rail traffic. That's…
a worry@ (Adds details on acquisition, taxes) NEW YORK, April 25 (Reuters) - Knight-Swift Transportation Holdings Inc posted a higher quarterly net profit on Wednesday, citing higher charges for the freight it carries and strong volumes, but warned it was struggling to hire and retain enough drivers. North America's largest truckload carrier said freight demand…
(Adds details from release) April 25 (Reuters) - Norfolk Southern Corp, one of the largest U.S. railroads by revenue, reported a rise in quarterly net profit on Wednesday, driven by higher volumes of consumer goods and a lower effective tax rate. The Norfolk, Virginia-based railroad operator said first-quarter net income jumped to $552 million, or…
(Adds details on share repurchases, service issues) April 25 (Reuters) - Norfolk Southern Corp, one of the largest U.S. railroads by revenue, reported a 27 percent increase in year-over-year quarterly net profit on Wednesday, driven by higher volumes and prices it charges for the freight it carries and a lower effective tax rate. The Norfolk,…
(Recasts with share growth; adds CEO comments, paragraph 4) April 25 (Reuters) - Shares in Norfolk Southern Corp rose about 5 percent in early trading on Wednesday after the fourth-largest U.S. railroad reported a 27 percent increase in year-over-year quarterly net profit and topped revenue forecasts. The Norfolk, Virginia-based railroad, with a network that spans…
Rail News Home Federal Legislation & Regulation 4/24/2018 Rail News: Federal Legislation & Regulation STB task force to hold informal meetings on rate review reforms The Surface Transportation Board (STB) yesterday announced its Rate Reform Task Force will begin holding informal meetings with stakeholders next month to discuss ways to reform the board’s rate review…
Rail News Home Federal Legislation & Regulation 4/23/2018 Rail News: Federal Legislation & Regulation USDOT creates BUILD grants to replace TIGER program The deadline for BUILD grant applications is July 19. Photo – USDOT The U.S. Department of Transportation (USDOT) on Friday announced a new infrastructure project funding program that will supplant the popular Transportation…
(Adds information on operating expense, carloads, background on CP's performance, estimates) April 23 (Reuters) - Canadian National Railway Co reported a 16.2 percent fall in first-quarter profit on Monday as operating expenses shot up and the railroad company cut its 2018 earnings outlook. The company said it now expects 2018 adjusted earnings C$5.10 to C$5.25,…