(Adds comments from CEO, company spokesman, analyst) April 23 (Reuters) - Canadian National Railway Co on Monday posted a 16.2 percent fall in quarterly profit as operating expenses shot up during the harsh winter, and the country's largest railroad cut its 2018 outlook as capacity limits strained its ability to meet high demand. The backlog…
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Rail News Home Federal Legislation & Regulation 4/20/2018 Rail News: Federal Legislation & Regulation DART seeks public input on Cotton Belt DEIS Starting today, the draft environmental impact statement (DEIS) for the Cotton Belt corridor regional rail project in North Texas is now available for a 45-day public review and comment period, Dallas Area Rapid…
(Adds details on rising costs) April 20 (Reuters) - Kansas City Southern, a regional U.S. railroad with extensive operations in Mexico, reported lower-than expected quarterly revenue on Friday despite a 1 percent overall increase in rail volumes. The Kansas City, Missouri-based company said its revenue gains in consumer goods, automotive and petroleum products were partially…
(Adds analyst comment, reaction from crude oil companies) MONTREAL/VANCOUVER April 20 (Reuters) - Canada's biggest rail union said no progress had been made in negotiations on Friday with Canadian Pacific Railway Ltd to reach a deal before a Saturday deadline as worries about a potential strike weighed on the country's crude oil prices. If the…
CSX easily topped Wall Street forecasts for first-quarter profit. The No. 3 U.S. railroad operator benefited from a cut-throat efficiency and cost-cutting drive The results sent its shares 5 percent higher on Tuesday. Jodi Gralnick | CNBC A shipping container is loaded onto a flatbed at the CSX Intermodal Terminal in North Baltimore, Ohio. CSX…
(Adds background on turnaround plan, analyst and CEO quotes) April 17 (Reuters) - CSX Corp easily topped Wall Street forecasts for first-quarter profit as the No. 3 U.S. railroad operator benefited from a cut-throat efficiency and cost-cutting drive, sending its shares 5 percent higher on Tuesday. CSX has been cutting jobs and the number of…
JACKSONVILLE, Fla. (AP) _ CSX Corp. (CSX) on Tuesday reported first-quarter earnings of $695 million. On a per-share basis, the Jacksonville, Florida-based company said it had net income of 78 cents. The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 66 cents per…
Rail News Home Federal Legislation & Regulation 4/13/2018 Rail News: Federal Legislation & Regulation Trump nominates Homendy to serve on NTSB President Donald Trump this week announced his intention to nominate Jennifer Homendy of Virginia to serve on the National Transportation Safety Board (NTSB).Homendy is being nominated to serve the remainder of a five-year term…
Rail News Home Federal Legislation & Regulation 4/13/2018 Rail News: Federal Legislation & Regulation Denham: USDOT inspector general to audit California high-speed rail project U.S. Rep. Jeff Denham (R-Calif.) chairs the House Subcommittee on Railroads, Pipelines and Hazardous Materials. Photo – Congress.gov The U.S. Department of Transportation's Office of Inspector General has agreed to an…
Rail News Home Federal Legislation & Regulation 4/11/2018 Rail News: Federal Legislation & Regulation House passes rail data security bills The U.S. House of Representatives yesterday passed two bipartisan railroad data and information security bills. One of the bills calls on the Federal Railroad Administration (FRA) to develop a plan and timeline to implement cybersecurity…