OMAHA, Neb. (AP) — Norfolk Southern's second-quarter profit raced ahead 43 percent as the railroad handled 6 percent more freight. The company said Wednesday that it earned $710 million, or $2.50 per share, in the quarter. That's up from $497 million net income, or $1.71 per share a year ago. The results surpassed the $2.31…
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(Adds details on earnings) July 24 (Reuters) - Canadian National Railway reported a 27 percent jump in quarterly profit on Tuesday as the railroad moved higher volumes of commodities including grains and fertilizers. Total carloads, the amount of freight loaded into cars during a specified period, rose 5.8 percent, while rail freight revenue per carload…
(Adds analysts' estimates, outlook, shares) July 24 (Reuters) - Canadian National Railway on Tuesday reported a better-than-expected quarterly profit and raised its forecast for full-year adjusted earnings as the railroad moved higher volumes of commodities including grains and fertilizers. The company said it now expected adjusted earnings of C$5.30 to C$5.45 per share, compared with…
(Adds comments from conference call) July 24 (Reuters) - Canadian National Railway Co on Tuesday reported a better-than-expected quarterly profit and raised its forecast for full-year adjusted earnings as the railroad moved higher volumes of commodities including grains and fertilizers at better pricing. Canada's largest railroad expects to move higher volumes in the second half…
Rail News Home Federal Legislation & Regulation 7/23/2018 Rail News: Federal Legislation & Regulation Court ruling allows Amtrak, FRA to set on-time standards A federal appeals court ruled last week that Amtrak and the Federal Railroad Administration (FRA) should be allowed to set their own standards for measuring on-time performance of passenger-rail service.The 2-1 ruling…
Rail News Home Federal Legislation & Regulation 7/23/2018 Rail News: Federal Legislation & Regulation Feds OK next phase of testing on RTD's G Line The line was originally slated to open for passenger service in fall 2016. Photo – Denver RTD Denver's Regional Transportation District (RTD) has received approval from the Federal Railroad Administration (FRA)…
(Adds context on Mexico trade) July 20 (Reuters) - Kansas City Southern, a regional U.S. railroad operator with extensive operations in Mexico, topped Wall Street estimates for quarterly profit on Friday, as it transported higher volumes of petroleum, cars and chemicals. Shares gained 1.1 percent to $109.67 in afternoon trading, even after the company lowered…
CAF USA Inc. is building 24 low-floor light-rail vehicles for the MBTA's Green Line. Photo – MBTA Massachusetts Gov. Charlie Baker and local officials earlier this week unveiled a new rail car that will operate on the Massachusetts Bay Transportation Authority's (MBTA) Green Line light-rail route.Starting in September, the new cars will be put into…
OMAHA, Neb. (AP) — Union Pacific Corp. hauled in 29 percent more second-quarter profit as the railroad handled 4 percent more shipments, but the results might have been better if not for some operational challenges. The Omaha, Nebraska-based company said Thursday it earned $1.51 billion net income, or $1.98 per share. That's up from $1.17…
(Adds CEO comments, details, updates stock price) July 19 (Reuters) - No. 1 U.S. railroad Union Pacific Corp's second-quarter profit and revenue beat estimates on Thursday but costs related to a tunnel collapse that wreaked havoc on its Northwest service offset much of the gain from sharply lower U.S. taxes, sending shares down more than…