KCS 2Q19: Volume flat, but revenues reach record
Kansas City Southern (KCS) posted record revenues of $714 million, a 5% yearly increase, for 2Q19 despite “flat volumes,” the company reported on July 19.
News
Road & Rail wins third straight AAR excellence award
Louisville, Ky.-based Road & Rail Services, Inc. was honored, for the third consecutive year, with The Automotive Quality Excellence Award from the Association of American Railroads (AAR).
UP 2Q19: Record-low OR, despite volume, revenue declines
Union Pacific, in the midst of implementing Unified Plan 2020, its version of PSR (Precision Scheduled Railroading), posted a quarterly record-low operating ratio for this year’s second quarter, along with increases in net income, operating income and diluted earnings per share, compared to the prior-year quarter. These improvements came despite decreases in volume and revenue.
July still no salvation for traffic
The Association of American Railroads (AAR) recently reported U.S. rail traffic for the week ended July 13, 2019, and it appears that it’s still “in the doldrums.”
CSX “achieving record levels of efficiency”
CSX Corp. (CSX) today announced a 2Q19 earnings per share increase of 7% on net earnings of $870 million, or $1.08 per share, versus $877 million, or $1.01 per share, in the same period last year. In addition, CSX’s operating ratio set a company second-quarter record of 57.4%, improved from 58.6% the prior year.
NJT debuting Heritage Coaches
New Jersey Transit is marking its 40th anniversary this month, and among other activities is rolling out six MultiLevel “Heritage Coaches” decorated with the logos of several predecessor railroads that came together to form the agency’s 660-route-mile, statewide regional/commuter rail network—Pennsylvania Railroad, Central Railroad of New Jersey, Erie-Lackawanna, Conrail, Pennsylvania-Reading Seashore Lines—and the agency that created NJT in 1979, the New Jersey Department of Transportation.
CP 2Q19: “Growth across every line of business”
Canadian Pacific Railway (CP) announced it set record second-quarter revenues of C$1.98 billion, an increase of 13% from last year’s C$1.75 billion, and a second-quarter operating ratio record of 58.4%, a 580 basis point improvement over last year’s second-quarter operating ratio of 64.2%.
Hamberger, Robertson appointed to CP Board
Canadian Pacific Railway (CP) recently announced that Edward R. Hamberger and Andrea Robertson have been appointed to its Board of Directors.
Miner to supply components for 3,800 CP, CN hoppers
Miner Enterprises recently announced that it plans to supply outlet gates and hatch covers for 3,800 new high-capacity grain hopper cars ordered by Canadian Pacific (CP) and Canadian National (CN) railways.
Morrison to serve as HDR freight tech leader
Engineering firm HDR, Inc. recently announced that Doug Morrison has joined the company as Freight Technology Leader.