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.
Kansas City officials say they'll seek streetcar rolling stock through options already held by Cincinnati or Salt Lake City, which are advancing their own streetcar lines.