Rail News Home Norfolk Southern Railway 7/29/2022 Rail News: Norfolk Southern Railway
The program will provide $2,500 per year, renewable for up to four years, for full-time students. Photo – NS
Railroad News
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Norfolk Southern Railway yesterday announced the awardees of the Thoroughbred Scholars program, which provides scholarships of up to $10,000 to 100 children of NS employees.
The program will provide $2,500 per year, renewable for up to four years, to full-time students pursuing an undergraduate degree at an accredited two- or four-year institution. The program received more than 500 applications, NS officials said in a press release.
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Rail News Home BNSF Railway 7/28/2022 Rail News: BNSF Railway
The South Tacoma intermodal facility is part of a joint effort between the Class I and J.B. Hunt Transport Services Inc. announced in March. Photo – BNSF Railway Co.
The South Tacoma intermodal facility is part of a joint effort between the Class I and J.B. Hunt Transport Services Inc. announced in March. Photo – BNSF Railway Co.
BNSF Railway Co., in partnership with the Northwest Seaport Alliance (NWSA), yesterday announced the opening of a new rail hub at the Port of Tacoma in Washington to meet growing intermodal demand.
The South Tacoma intermodal facility is part of a joint effort between the Class I and J.B. Hunt Transport Services Inc. announced in March. The two companies aim to substantially improve capacity in the Pacific Northwest intermodal market, BNSF officials said in a press release.
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Rail News Home Canadian Pacific 7/28/2022 Rail News: Canadian Pacific
Canadian Pacific today announced it posted "strong" second-quarter 2022 results, including revenue of CA$2.2 billion, a 7% increase compared with the same period last year.The railroad reported operating income of CA$868 million, up from CA$820 million a year ago. Net income of CA$765 million for the quarter was down from CA$1.2 million posted in Q2 2021.CP reported diluted earnings per share (EPS) of 82 cents, down 56%, and an adjusted diluted EPS of 95 cents, down 8%.In addition, CP posted a Q2 2022 operating ratio (OR) of 60.6%, up from 60.1% a year ago, and an adjusted OR of 59.7%, up from 55.3% last year."After a challenging first quarter of the year, I'm proud of the resiliency and discipline the CP team demonstrated to deliver these results," said President and CEO Keith Creel in a press release.During the quarter ending June 30, CP incurred $19 million in costs related to its acquisition of Kansas City Southern."The strong demand environment for North American goods and commodities, coupled with our own unique growth initiatives and the promising upcoming Canadian grain crop, gives me confidence that we will continue to see momentum build into the back half of 2022 and beyond," said Creel.The proposed merger of CP and KCS is awaiting approval from the Surface Transportation Board. Earlier this week, the board announced it scheduled a public hearing on the acquisition for Sept. 28, 29 and 30.
Canadian Pacific today announced it posted "strong" second-quarter 2022 results, including revenue of CA$2.2 billion, a 7% increase compared with the same period last year.The railroad reported operating income of CA$868 million, up from CA$820 million a year ago. Net income of CA$765 million for the quarter was down from CA$1.2 million posted in Q2 2021.CP reported diluted earnings per share (EPS) of 82 cents, down 56%, and an adjusted diluted EPS of 95 cents, down 8%.In addition, CP posted a Q2 2022 operating ratio (OR) of 60.6%, up from 60.1% a year ago, and an adjusted OR of 59.7%, up from 55.3% last year."After a challenging first quarter of the year, I'm proud of the resiliency and discipline the CP team demonstrated to deliver these results," said President and CEO Keith Creel in a press release.During the quarter ending June 30, CP incurred $19 million in costs related to its acquisition of Kansas City Southern."The strong demand environment for North American goods and commodities, coupled with our own unique growth initiatives and the promising upcoming Canadian grain crop, gives me confidence that we will continue to see momentum build into the back half of 2022 and beyond," said Creel.The proposed merger of CP and KCS is awaiting approval from the Surface Transportation Board. Earlier this week, the board announced it scheduled a public hearing on the acquisition for Sept. 28, 29 and 30.