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CP earns key analyst upgrade
In his proxy fight for control of Canadian Pacific, Pershing Square Capital Management hedge fund chief Bill Ackerman contends that the railroad's management has failed to seize opportunities to improve its performance.
GWI traffic declines in March, 1Q
Greenwich, Conn.-based Genesee & Wyoming, Inc. said Friday its March 2012 traffic volume fell 13.6% compared with the same month a year ago. As well, GWI's first-quarter traffic volume declined,…
Wabtec increases 2012 earnings guidance
Wabtec Corporation said April 12 that it expects first-quarter 2012 earnings per diluted share to be about $1.20, and has increased its 2012 full-year EPS guidance to about $4.80, based…
RailAmerica completes acquisition
Jacksonville, Fla.-based RailAmerica, Inc. announced that it has completed the acquisition of a 20% interest in the Wellsboro & Corning Railroad and Industrial Waste Group from Myles Group for approximately…
Greenbrier Cos.: “Strong” fiscal 2Q results
The Greenbrier Cos. Monday reported net earnings of $17.7 million, or 57 cents per diluted share, in its fiscal second quarter ending Feb. 29, 2012, compared with a net loss…
Gaining strength, KCS initiates cash dividend
In a sign of growing financial strength, Kansas City Southern's board of directors has decided to initiate a quarterly cash dividend for holders of its common stock.
Rio de Janeiro EMUs go into service
Electric multiple-unit (EMU) trains manufactured by China's CNR Changchun Railway Vehicles Co., Ltd. went into operation in Rio de Janeiro, Brazil, on March 20. An inaugural ceremony was held on that…
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…
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