KCS Reports Record Revenue for 3Q19
Kansas City Southern (KCS) reported record revenues of $747.7 million, an increase of 7% from third quarter 2018. Overall, carload volumes were flat compared to prior year.
Class I
UP Sets Quarterly OR Record
Union Pacific (UP) reported 3Q19 net income of $1.6 billion, or $2.22 per diluted share. This compares to $1.6 billion, or $2.15 per diluted share, in the same period last year.
CSX Sets Operating Ratio Record in 3Q19
CSX announced 3Q19 net earnings of $856 million, or $1.08 per share, versus $894 million, or $1.05 per share in the same period last year—an EPS increase of 3%. CSX’s operating ratio set a new company record of 56.8%, improved from 58.7% in the prior year.
AAR Honors Hazardous Material Handlers
The Association of American Railroads (AAR) announced the 2019 recipients of the Holden-Proefrock Award, Danny Simpson, and the 2018 Non-Accident Release (NAR) Grand Slam Awards, presented to 41 companies. The awards are given annually to individuals, shippers and railroads operating in hazardous material fields.
Shareholder Value, or Public Safety?
Date: Sept. 27, 2019. News media outlets report potential life threatening situations with three different Class I railroad freight trains blocking railroad grade crossings, sometimes for hours at a time. These events seem to be increasing, both in number and length of time. Americans are not just inconvenienced. Lives are being place at great risk when a blocked crossing impedes emergency service providers from assisting people in need of help.
Short Lines: Custom, High-Growth Freight Service
Are short lines offering a better customer experience than Precision Scheduled Railroading (PSR)? The Class I railroad business seems to be all about the benefits of PSR. That’s the name of a cost minimization business strategy introduced more than a decade ago at CN, now expanding as the service model at five of the other six large North American railroad companies (Norfolk Southern, CSX, Union Pacific, Kansas City Southern and Canadian Pacific). Class I’s annually earn more than a Federal Railroad Administration-set threshold of $500 million in revenues.
AAR: Make it 41 Straight Weeks of U.S. Traffic Downturn
The Association of American Railroads (AAR) reported U.S. rail traffic for the week ended October 12, 2019, and it’s more of the same.
NS Releases Corporate Social Responsibility Report
Norfolk Southern (NS) released its 2019 Corporate Social Responsibility (CSR) report, which highlights initiatives that aim to support a cleaner environment, promote economic growth and jobs, foster a diverse and inclusive workplace, and build stronger communities.
A&R Logistics Anchor Tenant at OmniTRAX’s SGIH
Affiliates of OmniTRAX, Inc. and The Broe Group have signed A&R Logistics, Inc. as anchor tenant at the Savannah Gateway Industrial Hub (SGIH), a master-planned, 2,750-acre industrial park owned by Effingham County Industrial Development Authority (ECIDA) with the capacity to accommodate up to 18 million square feet of industrial space.
Happy 150th! Wabtec Celebrates Anniversary, New HQ
Wabtec Corp. recently celebrated its 150th anniversary, as well as the grand opening of its new headquarters in Pittsburgh.