Railroad News

Rail News Home Kansas City Southern 4/21/2017 Rail News: Kansas City Southern
Kansas City Southern today reported first-quarter revenue climbed 8 percent to $610 million on a 6 percent increase in carloads compared with first-quarter 2016.Excluding an estimated impact of Mexican peso depreciation, revenue rose 11 percent compared with the same period a year ago, KCS executives said in a press release.Operating income jumped 12 percent to $211 million. Reported diluted earnings per share (EPS) rose 39 percent to $1.38 from 99 cents per share a year ago. Adjusted diluted EPS rose 14 percent to $1.17 from $1.03 in Q1 2016.Year over year, operating ratio declined to 65.4 percent from 66.6 percent.KCS President and Chief Executive Officer Patrick Ottensmeyer described the first-quarter performance as "solid and clean." The railroad's first-quarter revenue, volumes, operating ratio and EPS were all records, he said. Revenue increased in four commodity groups led by a 64 percent increase in energy and a 25 percent increase in automotive. Revenue from chemical and petroleum climbed 8 percent and agriculture and minerals rose 6 percent in the quarter compared with last year.Two business areas saw "relatively modest" declines: intermodal, down 2 percent, and industrial and consumer, down 1 percent compared to Q1 2016, Ottensmeyer said.Operating expenses increased 6 percent to $399 million. Excluding an estimated impact of Mexican peso depreciation, operating expenses rose 9 percent compared with Q1 2016 expenses.For the remainder of 2017, KCS' outlook is "favorable" for 75 percent of its business volume and "neutral" for 25 percent. Favorable markets are automotive, energy, chemicals and petroleum, and intermodal; neutral markets are agriculture and minerals and industrial and consumer."We all remain focused on operational improvements and longer-term growth drivers and are excited to see some of these opportunities, such as refined products movements, materialize in 2017," said Ottensmeyer. Contact Progressive Railroading editorial staff. More News from 4/21/2017

The Massachusetts Department of Transportation (MassDOT) received delivery of 20 new remote-control steel ballast cars in mid April.

The MassDOT Rail & Transit Division purchased the cars and noted the innovative nature of the remote-control gates that MassDOT says will make the process of dumping ballast faster, more efficient and safer.

Janno Lieber has joined the senior executive ranks of the Metropolitan Transportation Authority (MTA) as chief development officer. In this newly created position, Lieber will take over leadership and oversight of key strategic capital initiatives focused on increasing the capacity of the system.

As part of his new responsibilities, Lieber will head up the MTA Capital Construction Company and will manage the MTA's major capital projects that expand capacity including:
•Second Avenue Subway Phase II – extending the line to 125th Street;
•East Side Access – connecting Long Island Railroad to Grand Central Terminal;
•Penn Station Access – bringing Metro-North Railroad into Penn Station;
•Enhanced Stations;
•Improved Rail Mass Transit Access to JFK Airport with a focus on developing a one-seat ride;
•LIRR Third Track – expanding capacity on the Railroad's main line; and
•LIRR Double Track – improving service and reliability on the LIRR's Ronkonkoma Branch.

Four democratic senators from New York and New Jersey are urging U.S. Secretary of Transportation Elaine Chao to visit the rail infrastructure linking to two states to highlight the need for investment in the region's rail and transit infrastructure.

 

The Federal Railroad Administration (FRA) is planning a workshop this summer to tackle a critical rail safety element: grade crossings.

The FRA's Highway-Rail Grade Crossing Safety workshop will be held Aug. 15-17 at the Westin Hotel in St. Louis, Mo. FRA says the workshop "will bring together national and international subject matter experts to identify and prioritize specific research needs related to highway-rail grade crossing safety."

Original author: Stuart Chirls, senior editor, Railway Age

Original author: Stuart Chirls, senior editor, Railway Age

4/20/2017    

Rail News: Passenger Rail

4/20/2017    

Rail News: People

4/20/2017    

Rail News: Mechanical

4/20/2017    

Rail News: Rail Industry Trends

4/20/2017    

Rail News: Rail Industry Trends

4/20/2017    

Rail News: Internet-Digital

TranSystems Corp. welcomes public-private partnership (P3/PPP) and project finance expert Alistair Sawers as leader of its P3 Advisory Services.

Sawers has 23 years of experience in delivering public-private partnership projects and acquisitions. In his previous leadership roles at financial institutions and consulting firms, like Royal Bank of Canada (RBC) and EY, Sawers worked on more than 55 projects in 12 different countries. His 23 years of experience in advising public- and private-sector clients, as well acting as investor/lender, will help TranSystems grow its P3 and owner's representative business, initially supporting Los Angeles World Airports with their P3 procurements.

4/20/2017    

Rail News: Canadian Pacific

4/20/2017    

Rail News: Canadian Pacific

Rail News Home Canadian Pacific 4/20/2017 Rail News: Canadian Pacific
Canadian Pacific yesterday announced first-quarter 2017 revenue rose 1 percent to 1.6 billion Canadian dollars from CA$1.59 billion a year ago. The revenue growth was the first in six quarters, company officials said."We turned a corner in March and are now seeing positive volumes, which makes us cautiously optimistic that the demand environment is improving," President and Chief Executive Officer Keith Creel said in a press release and in an earnings conference call.CP's net income declined to CA$431 million in Q1 2017 from CA$540 million in the same period a year ago. The Class I reported earnings per share (EPS) fell 17 percent to CA$2.93 from CA$3.51 a year ago, while adjusted diluted EPS remained flat year-over-year at CA$2.50.CP's reported operating ratio fell by 80 basis points to 58.1 percent from 58.9 percent. However, the OR in the quarter includes a CA$51 million recovery associated with the early departure of E. Hunter Harrison, who left CP as CEO earlier this year to become head of CSX Corp. Excluding that adjustment, the operating ratio increased by 240 basis points to 61.3 percent."CP's strong focus on developing its bench strength resulted in a seamless leadership transition and a seasoned executive team that is focused on leveraging CP's proven operating model," Creel said. "Our talented and engaged workforce together with disciplined cost control gives us a great deal of confidence that we'll be able to deliver high single-digit adjusted diluted EPS growth in 2017 and create long-term value for shareholders."Meanwhile, Creel also announced that CP and the United Steelworkers Local 1976 have reached a five-year agreement that will cover 600 administrative support and intermodal employees. The agreement was reached and ratified early, as the existing contract doesn't expire until the end of 2017, Creel said.The agreement calls for wage increases of 2 percent each year over the term of the contract. Also, the contract provides the opportunity for additional increases of 0.5 percent to 1 percent in the fourth and fifth years depending on gains in revenue ton miles. "CP's support staff personnel and intermodal employees are integral to our company's best-in-class service and our future success," said Creel. "This innovative agreement is an example of the positive results that can be achieved when people work together in good faith." Contact Progressive Railroading editorial staff. More News from 4/20/2017

Construction and renovation began yesterday at the Bay Area Rapid Transit (BART) Concord Station plaza.

BART says the renovations will revitalize the station with a major makeover, including improved pedestrian access, an added bike lane, energy-efficient lighting and an improved "kiss 'n ride" for passenger drop offs.

4/20/2017    

Rail News: CSX Transportation

4/20/2017    

Rail News: CSX Transportation