Railroad News

Parrish & Heimbecker (P&H) is planning upgrades to its facilities in Quill Lake, Saskatchewan. 

P&H will be increasing its existing 50-car spot to accommodate 100 rail cars from CN in one spot. This upgrade will allow the company to clear twice as much grain out of the facility, according to a news release.

CN yesterday reported second-quarter financial and operating results, including a 13% increase in revenue ton miles (RTMs) year over year and volume growth in virtually every business unit, with notable strength in industrial products, international and domestic intermodal, and propane.

The Class I posted Q2 operating income of CA $1.4 billion, an increase of 76%, or 9% on an adjusted basis, compared with the same period in 2020. Revenue climbed 12% to CA$3.6 billion. Diluted earnings per share (EPS) rose 90% to CA$1.46, and adjusted diluted EPS increased 16% to CA$1.49.

CN last week announced it will contribute an additional CA$1.5 million to immediate relief efforts in the village of Lytton, British Columbia, and the Lytton First Nation.

CN’s contribution will be spent according to the expressed needs of the Lytton community and the Lytton First Nation, CN officials said in a press release.

Progressive Railroading and RailTrends® have named CN President and Chief Executive Officer Jean-Jacques Ruest the 2021 recipient of the Railroad Innovator Award, which recognizes an individual's outstanding achievement in the rail industry.

Ruest, who joined CN at the time the railroad was privatized in 1996, was appointed president and CEO in July 2018 after having served in both posts in an interim capacity since March 2018.