Erie, Pa.-based GE Transportation notched revenue of $1.4 billion in the third quarter, up 9% from the same period a year ago, and a profit of $265 million, up 35% from $197 million in the third quarter of 2011.
Despite record revenue for the third quarter, Kansas City Southern earnings of $90 million, or 82 cents per share, fell from $99.8 million, or 91 cents per share, in the comparable quarter in 2011, due in part to a higher Mexican tax bill affecting its Kansas City Southern de Mexico operations.
Delaware state and federal representatives, the Delaware Department of Transportation, and Amtrak on Thursday marked the ceremonial start of adding a 1.5-mile third track on Amtrak's Northeast Corridor just south of Wilmington.
Orders and deliveries of railcars declined in the third quarter, according to statistics released by the Railway Supply Institute's American Railway Car Institute (ARCI) Committee.
U.S. freight carload traffic for the week ending Oct. 13, 2012 remained unable to surmount 2011 levels, down 6.1% when measured against the comparable week one year ago, the Association of American Railroads said Thursday. U.S. intermodal volume, for its part, maintained its own positive momentum, up 2.6% for the week compared with 2011.
Chicago-based GATX Corp. Thursday reported third-quarter net income of $53.8 million, or $1.13 per share, up from $32.9 million or 70 cents per share in third quarter of 2011. Both the 2012 and 2011 third-quarter results include benefits from tax adjustments and otther items of $18.2 million and $1.3 million, respectively.
Alfred E. Michon, president of four regional railroads who also worked with both Burlington Northern (now BNSF) and Union Pacific, died Oct. 9 at age 75.
Union Pacific early Thursday reported third-quarter earnings of $1 billion, or $2.19 per diluted share, up from $904 million, or $1.85 per diluted share, in the comparable period in 2011 and in line with Wall Street consensus estimates of $2.19 per share.
Maryland's Board of Public Works has awarded Bombardier Transportation a six-year, $204.7 million contract to operate MARC's Camden and Brunswick passenger rail lines. A five-year renewal option worth $205 million is part of the package.
Exhibition sponsorship opportunities will be available for the first time at Railway Interchange 2013, the combined exhibition and technical conference, according to event organizers. Railway Interchange 2013 will take place Sept. 29-Oct. 3, 2013, in Indianapolis.
Norfolk Southern CEO Wick Moorman and Alabama Gov. Robert Bentley joined federal, state, and local officials and business leaders Wednesday in McCalla, Ala., to mark the opening of the Birmingham Regional Intermodal Facility.
In a move long anticipated by many rail industry observers, Canadian Pacific Wednesday announced the senior operations team who will lead the execution of the new service plans under CP President and CEO E. Hunter Harrison.
CSX Corp. Tuesday reported third-quarter net earnings of $455 million, down 2% from the $464 million in the third quarter of 2011. But earnings per share were up 2% year-over-year to 44 cents per share, compared with 43 cents per share in the 2011 quarter, and matching Wall Street consensus estimates.
Federal Transit Administrator Peter Rogoff was in Charlotte, N.C., Tuesday to announce a Federal Full Funding Grant Agreement (FFFGA) for the Lynx Blue Line light rail transit extension in Charlotte, N.C. , amounting to $580 million, half the cost of the project.
Pasadena, Calif.-based Jacobs Engineering Group Inc. said Tuesday it has been awarded a contract from the Washington State Department of Transportation (WSDOT) to provide on-call engineering and operations services in support of the agency's capital rail improvement program and other rail projects.
Transportation Secretary Ray LaHood visited Detroit Monday with a suggestion that a Southeastern Michigan Transportation Authority might be better equipped to land federal funding for transportation projects, including assistance with a much-debated streetcar project.
Siemens Mobility light rail car #201 is slated to enter revenue service Tuesday for Houston MetroRail, after a ceremony was held Monday at MetroRail's Rail Operations center.
BNSF Railway says it will celebrate the completion of its new railroad bridge over the Mississippi River at Burlington, Iowa, with a public ceremony and reception this Thursday, Oct. 18.
Continuing a nationwide tour dispensing federal transit funds, Secretary of Transportation Ray LaHood on Friday bestowed $75 million to Mesa, Ariz., for a 3.1-mile extension of Valley Metro light rail transit more deeply into the municipality.
Transportation Secretary Ray LaHood Thursday officially affirmed $942.2 million in Federal Transit Administration funds to extend San Francisco's Third Street light rail system through the city's Chinatown neighborhood.