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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.
GE Transportation completes RMI acquisition
Erie, Pa.-based GE Transportation said it had completed its acquisition of software provider RMI from The Carlyle Group. GE said late Tuesday the acquisition significantly expands its Software and Optimization…
Examining the financial crisis fallout
There are unanswered questions about regulatory changes and a shrinking operating lessor pool. As readers of this column already know, the rail industry has enjoyed more than 30 years of…
Hedge fund touts talks with CP
Hedge fund Pershing Square Capital Management, led by activist investor William Ackman, said Thursday it has held “productive” discussions with Canadian Pacific Railway.
With all due respect to Denzel Washington and Chris Pine, the railroad stocks may be the things that are unstoppable and not just the exaggerated Hollywood freight train story.
Canadian Pacific sells $500 million in debt
Canadian Pacific Railway Ltd. announced Tuesday that that subsidiary Canadian Pacific Railway Co. is issuing: US$250 million of 4.50% Notes due 2022 and US$250 million of 5.75% Notes due 2042.…
What gives with these full order books?
A good friend of mine who practices transportation finance in London, Jacqui Nelson, recently asked me about the condition of the U.S. economy. She reported that the “City” of London…
Cincinnati eyes TIGER funds for streetcar
Supporters of Cincinnati’s streetcar proposal, coming off an Election Day victory fending off the proposal’s opponents, reportedly now hope to obtain $56 million in federal funds to restore the full…
Cincinnati streetcar survives anti-rail effort
A majority of Cincinnati voters Tuesday stood by current plans to reintroduce streetcars to the city, rejecting Issue 48, a ballot measure that would have banned any city funds to…
Matt Rose and Warren Buffett: Managing the business
According to information in BNSF's 10Q quarterly filing at the Securities and Exchange Commission, the company paid a dividend of $250 million to Warren Buffett, its only stockholder. Some analysts…
2012 Railroad Financial Desk Book: Stability
Welcome to this year’s edition of the Railroad Financial Desk Book. Each year we try our best to take a look back and a look forward to see if we…
A primer, of sorts, for operating lessors
I’m sitting here during the Dog Days of summer recuperating from major surgery as well as the experience of advising one of the potential purchasers of GE’s railcar leasing business,…
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