Down for freight carload traffic, up for intermodal: That once more describes U.S. freight rail volume, this time for the week ending April 20, 2013, according to the latest report by the Association of American Railroads.
American Railcar Industries late Wednesday reported first-quarter net earnings of $17.9 million for its first quarter ended March 31, up a substantial 49% from the prior-year quarter, mostly on strong tank car sales. But earnings of 84 cents per share disappointed Wall Street, where consensus analyst estimates forecast 96 cents per share.
The words "light rail" were uttered, or at least alluded to, by candidates for New York City mayor at a meeting in Staten Island Wednesday, hosted by the Staten Island Economic Development Corp.
The Association of American Railroads (AAR) Wednesday recognized the industry's overall safety achievements by highlighting best safety practices accomplishments at the Railroad Safety Leadership Forum, in Chicago. The focus of the forum was to acknowledge railroad team achievements in personal safety and injury prevention and provide a venue to share best practices.
Wabtec Corp. Wednesday morning reported net income from operations of $104 million, or earnings of $1.44 per diluted share, for the first quarter of 2013, up 18% from the same quarter in 2012 and a record.
The general manager of New Orleans' Regional Transit Authority Tuesday set forth a proposal for expanding the Crescent City's venerable streetcar system, though funding for such work was not identified.
Canadian Pacific early Wednesday reported first-quarter net income of C$217 million, or C$1.24 per diluted share, up sharply from C$142 million, or 82 Canadian cents per share, in the first quarter of 2012—a 51% improvement in earnings per share. Earnings beat Wall Street consensus estimates of C$1.21 per share for the quarter.
Norfolk Southern Corp. Tuesday afternoon reported a first-quarter 2013 net profit of $450 million, or $1.41 a share, up from $410 million, or $1.23 a share, in the first quarter of 2012. First-quarter results included a gain from the sale of land to the Michigan Department of Transportation, which increased net income by $60 million, or 19 cents per diluted share.
The Federal Transit Administration has given its environmental approval for Detroit to construct an initial 3.3-mile streetcar line along Woodward Avenue from downtown Detroit to the New Center area.