Record revenues for Kansas City Southern
Despite some network issues, Kansas City Southern saw record revenues in the third quarter that were 6% higher at $699 million from a year ago.
Freight
Record quarter right “on schedule” for Canadian Pacific
The math for North America railroads is simple: A surging economy plus Precision Scheduled Railroading equals record profits.
Ironhorse Resources acquires San Pedro & Southwestern
Short line holding company Ironhorse Resources, Inc., has acquired Arizona-based San Pedro & Southwestern Railroad (SPSR). RR Mergers & Acquisitions, a specialist in the sale of rail sector companies, brokered the deal. SPSR will be renamed the San Pedro Valley Railroad (SPVR); the transaction is effective immediately.
Batory to industry: “Seize the fourth quarter”
Federal Railroad Administrator Ron Batory on Oct. 17 completed a second series of meetings with senior leadership of Positive Train Control (PTC) system suppliers that are directly associated with the eight railroads FRA has identified as “most at risk of not meeting statutory requirements by the end of the year.”
AAR hazmat awards honor Schoendorfer of NS, safe shippers
The Association of American Railroads announced the 2018 recipients of the Holden-Proefrock Award and the 2017 Non-Accident Release (NAR) Grand Slam Awards.
CSX 3Q18: If Hunter could only see this
Nearly one year after his death at 73, the legendary Hunter Harrison’s quest to improve CSX’s performance through Precision Scheduled Railroading (PSR) appears to be in full swing. CSX’s 3Q18 net earnings of $894 million, or $1.05 per share, vs. $459 million, or $0.51 per share in the same period last year, is a 106% increase. CSX’s operating ratio set a company third-quarter record of 58.7%, compared with 68.4% in the prior year—a 970 basis point improvement.
Crude pumps up weekly carload report
Commodity and intermodal rail traffic continued to finished in positive territory for the latest week, but at a much slower pace than earlier in the year.
Norfolk Southern, CSX continue recovery from effects of Hurricane Michael
The Class 1 carriers continue to make repairs and clean up lines a week after Hurricane Michael whipsawed the South with destructive winds and torrential rain.
Brake-Boss™ tech testing on Union Pacific
A recent test is demonstrating how railroads can show yarded trains who’s “the boss” when it comes to the status of air brakes.
Trump Administration shelves coal plan: Report
Amid economic and political pushback, the Trump Administration has quietly put plans to revitalize the coal industry on the back burner, according to a published report.