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Standard & Poor's upgrades KCS credit rating
Standard & Poor's on Tuesday upgraded Kansas City Southern's credit rating to B+ with a positive outlook, one level below an investment grade rating, which would further cut borrowing costs. The upgrade…
For sale: Ontario Northland Railroad
Ontario's provincial government intends to end fiscal support of Ontario Northland Transportation Commission, which oversees the Ontario Northland Railroad, which receives C$103 million a year in provincial fiscal support.
FreightCar America sets commercial restructuring
FreightCar America, Inc. on Monday said it has named three individuals to manage its newly restructured commercial organization "to more directly present the full range of FreightCar America and FreightCar…
Cincinnati streetcar project breaks ground
They've done it! On Feb. 17th, Cincinnati finally broke ground on its streetcar project.
Toronto City Council (again) backs LRT
A second day of debate by the Toronto City Council Thursday resulted in the council's affirming more light rail transit (LRT) for Canada's largest city, rejecting Toronto Mayor Rob Ford's…
UP expects 7% drop in 1Q coal volume
Union Pacific told JPMorgan's Aviation, Transportation and Defense conference Tuesday that while most shipping volumes are up this year, it expects a 7% drop in first-quarter coal volume due to the mild…
Sacramento joins neighbor's streetcar push
Sacramento, Calif.'s City Council unanimously has approved involving the city in a starter streetcar route primarily traversing suburban neighbor West Sacramento.
L.B. Foster reports 4Q earnings
L.B. Foster Thursday reported fourth-quarter net income of $6.1 million, or 60 cents per diluted share, compared to $6.2 million or 60 cents per diluted share, in the same quarter of…
ARI notches good 4Q, full-year results
American Railcar Industries, Inc. expressed satisfaction with its fourth-quarter and full year revenue and earnings, and also voice cautious optimism on the year ahead.
RRIF loan will finance 30 KCSR locomotives
Kansas City Southern Railway Company (KCSR) has taken out a $54.6 million Federal Railroad Administration-administered Railroad Rehabilitation and Improvement Financing (RRIF) Program loan to purchase 30 new General Electric ES44AC…
GWI reports 4Q, full-year earnings gain
Greenwich, Conn.-based Genesee & Wyoming Inc. on Wednesday reported fourth-quarter net income $33.3 million, compared with net income of $19.9 million in the fourth quarter of 2010. GWI's diluted earnings…
Rail demand for Timken bearings grows
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…
NS earnings, revenue records topple
Norfolk Southern late Tuesday reported a series of significant records for 2011: Railway operating revenues reached $11.2 billion, up 17%; income from railway operations climbed 20% to $3.2 billion; net…
CN quarterly earnings beat Street
Canadian National Tuesday reported net earnings of C$592 million, or C$1.32 per share, up 18% from C$503 million or C$1.08 per share in the same quarter a year ago. Adjusted…
CSX 4Q, full year set records; Street shrugs
CSX Corp. said late Monday fourth-quarter earnings of 43 cents per share, up 13% from 38 cents per share in the fourth quarter of 2010, as it recorded revenue of…
GE Transportation hails healthy 4Q
Erie, Pa.-based GE Transportation on Friday reported $1.5 billion in fourth-quarter 2011 revenue, up 43% year-over-year. Revenue for the full year 2011 was $4.9 billion, up 45% compared with fiscal…
GATX posts strong railcar results
GATX Corp. Thursday reported higher railcar lease prices and continued high utilization as it released results for fourth-quarter 2011 and the full calendar year.
UP reports record quarter and year; outlines 2012 capex
Union Pacific announced Thursday that it earned 2011 fourth-quarter net income of $964 million, or $1.99 per diluted share, compared with $775 million, or $1.56 per diluted share, in fourth-quarter…
CP sets 2012 capital plan
CP sets 2012 capital plan Canadian Pacific Railway Wednesday announced that it will invest between C$1.1 billion and C$1.2 billion for infrastructure renewal, network enhancements, and expansion projects in 2012.
EMD lockout continues into second week
A lockout at Electro-Motive Diesel Canada’s London, Ontario, plant that began on New Year’s Day is spurring cross-border labor issues between the U.S. and Canada.
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