The Timken Co. Friday reported record sales of $5.2 billion for 2011, up 28% from 2010 on "strong demand from diverse industrial markets,” including the railroads., (The growing railroad market for Timken roller bearings reflects the soaring demand for freight cars.)
J.B. Hunt Transport Services, Inc. reported late Thursday that fourth quarter 2011 Intermodal Segment revenue increased 24% to $729 million, and operating income grew 20% to $83.9 million.
Railroad freight car orders increased 51.4% in the fourth quarter to 16,434, compared with 10,853 car orders for the same quarter last year, according to the Railway Supply Institute. Orders in the quarter fell relative to the third quarter, which totaled 20,165 orders.
Norfolk Southern has announced a $2.4 billion capital improvement program for 2012, 12% higher than 2011 spending.
Union Pacific Railroad employees achieved a record low 1.15 reportable injury rate in 2011, the best performance on record in the company's 150-year history, according to a UP announcement Tuesday.