Railroad News

1/20/2017    

Rail News: Rail Industry Trends

1/20/2017    

Rail News: CSX Transportation

1/20/2017    

Rail News: CSX Transportation

The Metropolitan Council (Met Council), which serves the Twin Cities, received approval from the Federal Transit Administration (FTA) to begin engineering on the Blue Line extension.

The Blue Line Extension (Bottineau) light-rail extension is scheduled for construction in 2018 and will operate about 13 miles northwest from downtown Minneapolis, Minn., through north Minneapolis, Golden Valley, Robbinsdale, Crystal and Brooklyn Park, drawing riders northwest of Brooklyn Park.

BNSF Railway Company (BNSF) has announced a $3.4 billion capital expenditure plan for 2017.

 

R. J. Corman Railroad Group, LLC, named Nathan Henderson as president of R. J. Corman Railroad Services, LLC, and of Noel Rush to serve as senior vice president Commercial Development, R.J. Corman Railroad Group effective immediately. Both will continue to report to R.J. Corman Railroad Group President and CEO Ed Quinn.

 

1/20/2017    

Rail News: BNSF Railway

1/20/2017    

Rail News: BNSF Railway

Rail News Home BNSF Railway 1/20/2017 Rail News: BNSF Railway
BNSF has slated $3.4 billion in capital projects for 2017.Photo – BNSF's Twitter account

1/20/2017    

Rail News: Passenger Rail

1/20/2017    

Rail News: Kansas City Southern

1/20/2017    

Rail News: Kansas City Southern

Rail News Home Kansas City Southern 1/20/2017 Rail News: Kansas City Southern
Kansas City Southern today reported fourth-quarter 2016 net income of $130 million, or $1.21 per diluted share, compared with $140 million, or $1.28 per diluted share, in fourth-quarter 2015. Adjusted diluted earnings per share came in at $1.12 for Q4 2016, down from $1.23 in Q4 2015, KCS officials said in a press release.The Class I's revenue of $599 million for the quarter remained unchanged from the same period a year ago, they said.Overall, carload volumes also were unchanged in the quarter compared with the prior year. Excluding the estimated impact of Mexican peso depreciation, revenue would have increased 3 percent compared with revenue in Q4 2015, KCS officials said.Operating income during Q4 2016 fell 4 percent to $211 million compared with Q4 2015. KCS' operating ratio for the quarter was 64.8 percent, a 1.4 point increase from Q4 2015.Operating expenses during the quarter rose 2 percent to $388 million compared with the year-ago quarter.KCS' quarterly results missed Wall Street analysts' expectations for earnings and revenue.For the full year 2016, net income totaled $480 million, or $4.43 per diluted share, compared with $485 million, or $4.40 per diluted share, in the previous year. Adjusted diluted earnings per share were $4.48 compared with $4.49 in 2015.KCS posted $2.3 billion in revenue for full-year 2016, down 3 percent compared with 2015's revenue. Carloads declined 2 percent to 2.17 million during the year compared with the previous year. Operating income for all of 2016 rose 2 percent to $819 million. The 2016 operating ratio was 64.9 percent, a 1.9 point improvement from 2015's operating ratio and a 1.5 point improvement from the prior year's adjusted operating ratio."KCS' ability to react swiftly and efficiently was proven throughout 2016, as our network faced challenging operational interruptions throughout the year. In addition, volatility in key commodities such as energy, consumer, and intermodal markets created uncertainty during 2016," said KCS President and Chief Executive Officer Patrick Ottensmeyer. "Despite these conditions, KCS' achieved a full-year operating ratio of 64.9 percent, a 1.5 point improvement versus 2015 adjusted."The company is aware of the economic and political uncertainty ahead in 2017, Ottensmeyer said."However, we continue to emphasize our commitment to growth and we are well positioned to take full advantage of the significant new business opportunities that lie ahead of us." he added. Contact Progressive Railroading editorial staff. More News from 1/20/2017

1/19/2017    

Rail News: Passenger Rail

1/19/2017    

Rail News: Federal Legislation & Regulation

U.S. Sen. Bob Menendez (D-N.J.) met with U.S. Department of Transportation (USDOT) Secretary-designate Elaine Chao on Jan. 18 to discuss infrastructure priorities, specifically, the Gateway Program.

Sen. Menendez, the ranking member of the Senate's mass transit subcommittee, said the meeting impressed upon Secretary Chao, who led the U.S. Labor Department under President George W. Bush, that advancing the Gateway project to replace the aging Hudson River rail tunnels must be the nation's top transportation infrastructure priority in the Trump Administration.

TransLink has announced the start of Phase One of its expanded transit services that will be available in 2017 in conjunction with the 10-Year Vision for Metro Vancouver Transportation.

 

1/19/2017    

Rail News: Passenger Rail

1/19/2017    

Rail News: High-Speed Rail

Canadian Pacific Railway Limited (CP) has announced the appointment of Keith Creel as the company’s president and CEO effective Jan. 31. The change follows E. Hunter Harrison's decision to retire from the railroad.