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New Jersey: “Fair share” OK for Gateway Tunnel
Amtrak's Gateway Tunnel project, designed to add rail capacity on the Northeast Corridor under the Hudson River, will get its "fair share" of fiscal support from New Jersey, the state's…
Investment firm acquires Patriot Rail Corp.
San Francisco-based SteelRiver Infrastructure Partners, an independent investment management firm, said Tuesday it will acquire 100% of the capital stock of Patriot Rail Corp. The firm will make the purchase…
FreightCar America deliveries and earnings soar
FreightCar America delivered 2,613 freight cars in the first quarter of 2012, compared with 875 in the first quarter of 2011 and 2,489 in the fourth quarter of 2011. New orders…
Fitch cites railroad challenges—and strengths
Fitch Ratings says it views "weak year-to-date rail volume trends as a reflection of fundamental shifts in demand patterns for key industrial commodities as domestic production of unconventional oil and gas resources continues…
BNSF 1Q earnings rise despite “traumatized” coal markets
Berkshire Hathaway reported at its annual meeting that first-quarter earnings included $701 million from BNSF Railway compared with $607 million in the year-earlier quarter, as rising shipments of manufactured foods made…
Austin MetroRail: The Little Train That Can, and Does
It's been a hard climb, but Austin's relatively small MetroRail transit service—built and operated since March 2010 by Capital Metro—is finally starting to prove its worth.
Whitmore acquires QHi Rail Ltd.
Rockwall, Tex.-based Whitmore Manufacturing Co., a producer of component protection technology, announced Monday it has acquired QHi Rail Ltd., a British-based manufacturer of gauge face and Top of the Rail…
Wabtec wins Australia locomotive order
Wabtec Corp's MotivePower subsidiary will build 10 locomotives for CFCLA Rail JV Pty Ltd., a joint venture of CFCL Australia Pty. Ltd. and Marubeni Corp. of Tokyo, the company announced Tuesday.
L.B. Foster sales and backlog grow
L.B. Foster Co., which supplies and distributes products and services for rail, construction, energy, and utility markets, has reported net income of $3.4 million or 33 cents per diluted share,…
GWI 1Q net income rises modestly
Genesee & Wyoming Inc. early Tuesday reported net income in the first quarter of 2012 of $22.2 million, up from $22.1 million in the first quarter of 2011. GWI's diluted…
Amtrak updates fleet strategy plan
Amtrak on Monday publicly unveiled its Amtrak Fleet Strategy Plan Version 3.1, an 82-page document designed to explain Amtrak's desire to implement a systematic approach to replacing the carrier's aged…
Rail Group aids Trinity Industries 1Q profit
Dallas-based Trinity Industries Inc., aided by its Rail Group, late Wednesday reported a first-quarter net profit of $52.9 million or 66 cents per share, compared with $24.2 million, or 30…
GATX Rail: Car utilization and earnings high
GATX Corp. reported Thursday that its Rail segment earned a profit of $58.6 million in the first quarter of 2012 vs. $51.6 million in the year-ago quarter. GATX said the improvement was…
RailAmerica: Operating income up 57%
RailAmerica, Inc. reported late Wednesday that first-quarter revenue increased 15% to $143.4 million from $124.9 million in the first quarter last year. 2011. Freight revenue increased 10% to $107.8 million with average revenue…
DOT seeking 100% “American” passenger cars
The U.S. Department of Transportation has issued a $551 million Request for Proposals (RFP) for 130 new “standardized” bilevel passenger railcars for use on Amtrak’s intercity routes in California, Illinois,…
GE Transportation reports strong revenue gain
Erie, Pa.-based GE Transportation Friday reported a "segment profit" of $232 million in the first quarter of 2012, up 48% from the same quarter a year ago. Revenue of $1.3…
CP trumpets 1Q earnings ahead of proxy battle
Canadian Pacific Railway early Friday announced stellar first-quarter net income of C$142 million, up C$108 million, or 318%, from the first quarter of 2011. Diluted earnings per share did nearly…
UP 1Q profit up 35%
Union Pacific Thursday reported its first-quarter profit was $863 million, or $1.79 per share, in the first quarter of 2012, up dramatically from $639 million, or $1.29 per share, in…
CSX 1Q beats Street
Leading off Class I first-quarter 2012 earnings reports, CSX Corp. late Tuesday cited first-quarter net income of $449 million, or 43 cents per share. That handily beat Wall Street's consensus…
Talgo ponders suing Wisconsin
Seattle-based Talgo, Inc. is considering legal action against the state of Wisconsin following the latter's long-expected cancelation of a $166 million maintenance contract.
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