Norfolk Southern on Jan. 24 named six people to new Vice President positions and duties, and announced the retirement of two long-time executives.
Railroad News
Jan
25
Jan
25
1/25/2017
Rail News: Canadian National Railway - CN
Jan
25
1/25/2017
Rail News: Canadian National Railway - CN
Jan
25
Rail News Home Canadian National Railway - CN 1/25/2017 Rail News: Canadian National Railway - CN
CN reported yesterday its net income rose 8 percent in fourth-quarter 2016 and 3 percent for the full year compared with 2015.The Class I posted Q4 2016 net income of 1 billion Canadian dollars, or CA$1.32 diluted earnings per share, compared with Q4 2015 net income of CA$941 million, or CA$1.18 diluted earnings per share, according to a CN press release.Revenue in the quarter increased 2 percent to CA$3.2 billion compared with Q4 2015, as carloads rose 3 percent and revenue per ton mile jumped 4 percent."Despite facing difficult winter conditions in December, CN delivered very strong fourth-quarter results and throughout 2016 demonstrated once again its ability to perform well in a mixed economic environment," said CN President and Chief Executive Officer Luc Jobin.For full-year 2016, CN posted net income of CA$3.64 billion, or CA$4.67 diluted earnings per share, compared with 2015 net income of $3.5 billion, or CA$4.39 diluted earnings per share.Revenue for 2016 decreased 5 percent to CA$12 billion compared with 2015. Revenue increases in automotive (6 percent), forest products (4 percent), and grain and fertilizers (1 percent) were offset by revenue decreases in coal (29 percent), metals and minerals (15 percent), petroleum and chemicals (11 percent) and intermodal (2 percent), company officials said. The decrease in total revenue was primarily due to lower volumes in crude oil, coal and frac sand, as well as lower applicable fuel surcharge rates, they said.Carloadings in 2016 declined 5 percent compared with 2015.CN's operating expenses for the year decreased 8 percent to CA$6.72 billion. The reduction in expenses was attributed mainly to cost-management initiatives, decreased traffic, lower pension expenses and fuel costs, which were partly offset by the negative translation impact of a weaker Canadian dollar on U.S. dollar-denominated expenses.CN's operating ratio for 2016 was 55.9 percent, an improvement over the 2015 operating ratio of 58.2 percent."We saw weaker volumes during the year, but quickly adjusted as our dedicated team of railroaders maintained its focus on operational efficiency, while continuing to provide quality service to our customers and improve our safety performance," Jobin said. "Overall, the economy remains challenging, but we remain optimistic and expect to see moderate volume growth in 2017," he added. Contact Progressive Railroading editorial staff. More News from 1/25/2017
CN reported yesterday its net income rose 8 percent in fourth-quarter 2016 and 3 percent for the full year compared with 2015.The Class I posted Q4 2016 net income of 1 billion Canadian dollars, or CA$1.32 diluted earnings per share, compared with Q4 2015 net income of CA$941 million, or CA$1.18 diluted earnings per share, according to a CN press release.Revenue in the quarter increased 2 percent to CA$3.2 billion compared with Q4 2015, as carloads rose 3 percent and revenue per ton mile jumped 4 percent."Despite facing difficult winter conditions in December, CN delivered very strong fourth-quarter results and throughout 2016 demonstrated once again its ability to perform well in a mixed economic environment," said CN President and Chief Executive Officer Luc Jobin.For full-year 2016, CN posted net income of CA$3.64 billion, or CA$4.67 diluted earnings per share, compared with 2015 net income of $3.5 billion, or CA$4.39 diluted earnings per share.Revenue for 2016 decreased 5 percent to CA$12 billion compared with 2015. Revenue increases in automotive (6 percent), forest products (4 percent), and grain and fertilizers (1 percent) were offset by revenue decreases in coal (29 percent), metals and minerals (15 percent), petroleum and chemicals (11 percent) and intermodal (2 percent), company officials said. The decrease in total revenue was primarily due to lower volumes in crude oil, coal and frac sand, as well as lower applicable fuel surcharge rates, they said.Carloadings in 2016 declined 5 percent compared with 2015.CN's operating expenses for the year decreased 8 percent to CA$6.72 billion. The reduction in expenses was attributed mainly to cost-management initiatives, decreased traffic, lower pension expenses and fuel costs, which were partly offset by the negative translation impact of a weaker Canadian dollar on U.S. dollar-denominated expenses.CN's operating ratio for 2016 was 55.9 percent, an improvement over the 2015 operating ratio of 58.2 percent."We saw weaker volumes during the year, but quickly adjusted as our dedicated team of railroaders maintained its focus on operational efficiency, while continuing to provide quality service to our customers and improve our safety performance," Jobin said. "Overall, the economy remains challenging, but we remain optimistic and expect to see moderate volume growth in 2017," he added. Contact Progressive Railroading editorial staff. More News from 1/25/2017
Jan
25
1/25/2017
Rail News: Norfolk Southern Railway
Jan
25
1/25/2017
Rail News: Norfolk Southern Railway
Jan
25
Rail News Home Norfolk Southern Railway 1/25/2017 Rail News: Norfolk Southern Railway
NS today announced fourth-quarter, full-year results for 2016.Photo – nscorp.com
NS today announced fourth-quarter, full-year results for 2016.Photo – nscorp.com
Norfolk Southern Corp. reported fourth-quarter 2016 net income rose 15 percent to $416 million, or $1.42 diluted earnings share, from $361 million, or $1.20 diluted earnings per share, in the same period a year ago.
Railway operating revenue during the quarter declined 1 percent to $2.5 billion compared with Q4 2015, reflecting lower merchandise and coal traffic, as well as reduced fuel surcharges.
Jan
25
For Immediate Release
AAR President and CEO Statement on Executive Orders and
Memoranda of Trump Administration
WASHINGTON, D.C. – Jan. 25, 2017 – Edward R. Hamberger, president and CEO of the Association of American Railroads (AAR), statement on yesterday's actions by the Trump Administration regarding infrastructure and permitting.
Jan
24
The Railway Engineering-Maintenance Suppliers Association (REMSA) shared Jan. 24 its three advocacy priorities for 2017.
Jan
24
CSX revealed a preliminary 2017 capital investment of $2.2 billion during its Fourth Quarter earnings call on Jan. 18.
Jan
24
Kansas City Southern will spend between $550-$560 million on it's capital program in 2017, which is a four to five percent reduction from its 2016 capital program of $584 million.
Jan
24
Infrastructure Ontario (IO) and Metrolinx have issued a Request for Proposals to two prequalified teams to design, build and finance GO Transit Cooksville Station project.
Jan
24
Jan
24
1/24/2017
Rail News: Passenger Rail
Jan
24
The Metropolitan Transportation Authority (MTA) of New York is proposing expanded sleep apnea screening and treatment opportunities to rail engineers and conductors across multiple area networks to bolster safety for operators and passengers.
Jan
24
Jan
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Jan
24
1/24/2017
Rail News: Security
Jan
24
1/24/2017
Rail News: Federal Legislation & Regulation
Jan
24