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%.
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 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.
CSX is expected to benefit from the latest South Carolina transportation infrastructure project aimed at moving state agriculture products to inland destinations.
The U.S. Class I railroads started the New Year in impressive fashion, as freight and intermodal traffic notched solid gains for the week ending January 5.
The Port of New York and New Jersey opened a major new expansion of its rail network, capping a five-year plan to expand capacity for cargo destined for outside the region.
Wheeling & Lake Erie and Herzog completed brake testing and preparations for Positive Train Control functionality in revenue service by the end of 2018.
Carload freight, containers and trailers carried by U.S. railroads continued a strong year-end surge, according to the Association of American Railroads.
Total U.S. rail traffic was 567,252 carloads and intermodal units for the week ending December 22, up 4.2% from the year-ago week.
Financial Edge, January 2019: Railway Age’s January Issue will be released early next month, but we thought we’d give our readers a Holiday treat with Financial Editor David Nahass’ column, which has a particularly relevant (and a bit tongue-in-cheek) Christmas theme centered around a famous Charles Dickens short story.