Railway Age News
According to figures reported by the Association of American Railroads (AAR) for the week ending April 18, 2015, this is the second highest week on record for intermodal volume, up 8.1% compared to 2014.
Core pricing gains helped Union Pacific achieve 9% earnings per share growth in the first quarter of 2015, but EPS would have been stronger had a sharp drop in volume not occurred. One effect: The 2015 capital program has been cut by $100 million, to approximately $4.2 billion, a 3% reduction.
The U.S. Department of Transportation circulated a press release detailing actions taken to “address some of the issues identified in recent train accidents involving crude oil and ethanol shipped by rail.”
As part of Norfolk Southern’s ongoing program of executive development and in support of its efforts to reduce its environmental footprint and expand its market opportunities, Bruno Maestri and Robert E. Martínez will assume additional responsibilities, following the retirement of Vice President Real Estate and Corporate Sustainability officer F. Blair Wimbush. The changes are effective May 1, 2015.
An 18% increase in sales combined with a 19% increase in earnings per diluted share compared to a year ago produced a record first-quarter 2015 for Wilmerding, Pa.-based Wabtec Corp.
Senators Charles Schumer (D-N.Y.) and Richard Blumenthal (D-Conn.) (collectively called “Schumenthal” by some critics—Editor) have introduced their version of a Positive Train Control (PTC) extension bill that joins a similar effort introduced by Sen. Roy Blunt (R-Mo.).
Canada’s Ontario Province will be covering the entire cost of a 14.2-mile, $1.6 billion light rail line connecting the Port Credit (Mississauga) and Brampton GO Transit regional/commuter rail stations, Transportation ‎Minister Steven Del Duca confirmed on April 21, 2015.
A 1% decrease in overall revenue combined with a 1% increase in carload volume compared to the prior-year period produced relatively flat first-quarter 2015 financial results for Kansas City Southern’s combined North American operations.
Building upon the momentum established when E. Hunter Harrison, Railway Age’s2015 Railroader of the Year, was appointed CEO, Canadian Pacific Railway posted the lowest first-quarter operating ratio in the company’s history and the highest-ever net income for the period.
Two Class I railroad presidents, BNSF’s Carl Ice and Norfolk Southern’s James Squires, will keynote the May 27 and May 28 sessions, respectively, of the North American Rail Shippers (NARS) 2015 annual meeting at the Drake Hotel, Chicago.
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