Union Pacific said Thursday, Jan. 23, 2014 fourth-quarter 2013 earnings of $1.17 billion, or $2.55 per share, up 13% from $1.04 billion, or $2.19 per share, in the fourth quarter of 2012.
Contrary to some speculation, North American railroads stand ready to do their share in supplying crude-by-rail (CBR) service to complement oil transport by pipeline, Association of American Railroads President and CEO Edward R. Hamberger said Jan. 23, 2014.
Up the first week in 2014, and down the second, U.S. freight traffic reversed the trend yet again to the plus side in the third week ending Jan. 18, 2014, the Association of American Railroads reported Thursday, Jan. 23.
The first phase of Los Angeles' Expo Line, which opened in April 2012, has matched ridership projections of 27,000 daily riders forecast for 2020.
Chicago-based GATX Corp. on Thursday, Jan. 23, 2014 reported fourth-quarter 2013 earnings of $53.3 million, or $1.14 per diluted share, compared with net income of $29.7 million, or 62 cents per diluted share, in the fourth quarter of 2012. That handily beat Wall Street consensus analyst estimates of 93 cents.
St. Paul, Minn., will join the ranks of U.S. cities served by light rail transit on June 14, 2014, when the Metro Green Line – formerly called the Central Corridor – will open for revenue service.
Los Angeles continues to add to its growing light rail transit network, marked by the beginning of construction of its new 8.5-mile Crenshaw Line, which began Tuesday, Jan. 21, 2014.
Norfolk Southern Corp. Wednesday, Jan. 22, 2014 reported record fourth-quarter net income of $513 million, or $1.64 per diluted share, up 24% from $413 million, or $1.30 per diluted share, earned in the fourth quarter of 2012. Revenue of $2.9 billion in the quarter was up 7% from a year ago.
Beleaguered short line Montreal, Maine & Atlantic Railway (MM&A), under financial duress due to the July 6, 2013 derailment and explosion of a train in Lac-Megantic, Quebec, has signed a sales agreement with Railroad Acquisisition Holdings LLC, an affiliate of New York-based Fortress Investment Group.
The Railway Supply Institute (RSI) is urging Transportation Secretary Anthony Foxx to include tank car manufacturers and other parties in any effort to improve tank car safety, particularly when related to crude-by-rail (CBR) developments.