Freight

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.”

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.