CN, CSX Create New Intermodal Lane
On Oct. 7, 2019, CN and CSX will launch a new intermodal service linking CN’s greater Montreal and Southern Ontario areas with CSX-served ports in Philadelphia and New York/New Jersey.
CSX
CSX’s Ed Harris at AARS: Straight Talk on PSR
CSX Executive Vice President Operations Ed Harris addressed his railway operating peers at the annual Association of American Railroad Superintendents conference the week of July 22. The topic was his view of Precision Scheduled Railroading (PSR). We have all seen and read about PSR multiple times. What could Harris possibly add, especially for the experienced operating men and women seated before him?
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.
RailUSA acquires 430-mile Florida rail line
Independent freight railroad and rail services holding company RailUSA, LLC recently acquired a 430-mile rail line and related real estate from CSX Corporation (CSX). Financial terms of the deal were not disclosed.
CSX names Bezar Chief Strategy Officer
CSX has appointed Farrukh A. Bezar as Senior Vice President and Chief Strategy Officer. He will lead the development of strategic initiatives that support CSX’s “intensified focus on growth and adding value for its customers and shareholders,” the company said. Bezar’s appointment is effective May 29. He will report to CSX President and CEO Jim Foote.
Carolina Connector groundbreaking ceremony held
Representatives from the N.C. Department of Transportation (NCDOT), CSX Corp. and the Carolinas Gateway Partnership recently held a groundbreaking ceremony for the Carolina Connector (CCX) intermodal transportation facility.
CSX’s Van Tassel honored with environmental award
The Association of American Railroads (AAR) has named CSX Transportation’s Gary Van Tassel II the 2019 John H. Chafee Environmental Excellence Award winner.
CSX: 31% EPS increase, record OR
CSX Corp. announced on April 16 that its first-quarter 2019 net earnings reached $834 million, or $1.02 per share, against $695 million ($.78 per share) year-over-year—an earnings per share increase of 31%.
Patch rail: Improving the planning process
Planning annual curve rail replacement programs is an essential element of maintenance planning on Class I railroads. Every railroad does it, with varying degrees of automation in the planning office and verification in the field.
CSX 2018: A record OR
CSX Corp. on Jan. 16 announced 4Q2018 net earnings of $843 million, or $1.01 per share, vs. $4.14 billion, or $4.62 per share on a GAAP basis ($0.64 on an adjusted basis) in the same period last year. That’s about $.02 per a share better than what analysts expected. Of particular note is that the railroad’s full-year 2018 operating ratio dropped to 60.3%, a U.S. Class I record.