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Record 3Q earnings for CP
Canadian Pacific early Wednesday, Oct. 23, 2013, reported third-quarter net income of C$324 million (US$312.5 million), or C$1.84 (US$1.77) per diluted share, noting it was a record. Results beat CP's…
CN 3Q earnings up on record revenue
CN on Tuesday, Oct. 22, 2013, reported third-quarter net income of C$705 million (US$685 million), or C$1.67 (US$1.62) per diluted share, up about 6% from C$664 million, or C$1.52 per…
Locomotive backlog cited in GE 3Q earnings
A strong backlog of manufactured goods orders, including locomotives and jet engines, helped drive third-quarter earnings for Fairfield, Conn.-based General Electric Co., which reported financial results Friday, Oct. 18, 2013.
Record 3Q revenue for KCS
Kansas City Southern Friday, Oct. 18, 2013 reported third-quarter net income of $119 million, or $1.07 per diluted share, up from $91 million, or 82 cents per diluted share, in…
UP 3Q earnings soar to record
Union Pacific Corp. reported third-quarter net income of $1.15 billion, or $2.48 per share, Thursday, Oct. 17, 2013, up 10% from $1 billion, or $2.19 per share, in the third quarter…
CSX 3Q earnings up from 3Q12, beat Street
CSX Corp. Tuesday, Oct. 15, 2013 reported third-quarter net earnings of $463 million, or 46 cents per share, up from $455 million, or 44 cents per share, in the third quarter of…
AAR adds two Silver Associate Members
Eastern Fluid Power Inc. and FTD Fahrzeugtechnik Bahnen Dessau GmbH have joined the Association of American Railroads as Silver Associate Members.
Metrolinx taps Wabtec for Tier 4 locomotives
Wilmerding, Pa.-based Wabtec Corp. said Tuesday, Oct. 8, 2013 its MotivePower subsidiary has signed a US$63 million contract with Canada's Metrolinx to build 10 new, low-emission locomotives.
LIRR seeks to lease diesel consists
MTA Long Island Rail Road has issued a Request for Expressions of Interest (RFEI) for diesel locomotives and trailer passenger cars, in an effort to bolster service on one branch…
2014 Railroad Financial Desk Book
Welcome to the 2014 edition of the Railroad Financial Desk Book. As regular readers know, every year we take a look back at issues and events that have impacted the…
Netherlands to AnsaldoBreda: Get your gear
Netherlands Railways has told AnsaldoBreda the Italian railcar manufacturer can pick up its 16 V250 Fyra high speed rail trains whenever it wants. NS has rejected the equipment due to…
MTA taps Kawasaki for M-9 railcar order
Kawasaki Rail Car, Inc. has been awarded a $1.8 billion contract by New York's Metropolitan Transportation Authority to supply an initial order of 92 M-9 married-pair electric multiple-unit (EMU) cars…
Continental Rail Corp. eyes freight railcar program
Continental Rail Corp., a short line and regional freight railroad holding company, announced Wednesday, Sept. 11, 2013 that it has engaged energy and infrastructure investment banking firm Taylor-DeJongh Ltd. to…
Potential suitor emerges for beleaguered MM&A
A Canadian rail group reportedly is negotiating with the State of Maine in hopes of acquiring the Montreal, Maine & Atlantic Railway, which filed for bankruptcy on Aug. 7 following…
Private equity firm acquires Nordco, Inc.
Nordco Inc. said late Monday, Aug. 19, 2013, that it has been acquired by Greenbriar Equity Group LLC, a New York-based private equity firm focused on global transportation. Terms of…
Greenbrier, CIT Rail enter into railcar maintenance agreement
The Greenbrier Companies, Inc. has signed a multi-year maintenance supply agreement to provide CIT Rail with dedicated access to repair capacity at Greenbrier’s railcar repair and parts shop in Atchison,…
Beleaguered MM&A files for bankruptcy
Montreal, Maine & Atlantic Railway (MM&A), operator of the runaway crude oil train involved in the July 6 derailment and explosion at Lac-Mégantic, Quebec, that killed 47 people, announced on…
Norfolk Southern: Anticipate, adapt, accomplish
The goal of capital expenditures is to link investments to the quality of the transportation product, generating increased customer satisfaction. Perhaps no railroad does it better than Norfolk Southern.
Better 2Q for L.B. Foster in 2013
L.B. Foster reported second-quarter net income of $7.3 million, or 71 cents per share, comparing favorably with a net loss of $2 million, or 20 cents per share, in the…
The Andersons acquiring railcar repair operation
The Andersons, Inc. announced Monday, Aug. 5, 2013, that it has entered into an agreement to acquire Mile Rail, LLC, a railcar repair and cleaning company headquartered in Kansas City, Mo.
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