Kansas City Southern (KCS) and NorthPoint Development will develop the Wylie Logistics Park—adjacent to the Class I railroad’s David L. Starling Wylie Intermodal Terminal—in the Dallas metropolitan area.
Kansas City Southern
Kansas City Southern has submitted a letter to the Science Based Targets Initiative (SBTi) committing to setting a greenhouse gas emissions reduction target.
Railway Age is honoring 20 “Fast Trackers” from a pool of more than 100 strong nominations for this year’s 20 Under 40 awards program.
Rail shippers in fourth-quarter 2020 expected price increases of 3.2% (up 10bps sequentially), and their sub-group of railcar buyers raised order expectations modestly, according to two surveys conducted by Cowen and Company analysts Jason H. Seidl (Managing Director and Railway Age Wall Street Contributing Editor), Matt Elkott and Elliot Alper.
While BNSF and Kansas City Southern were unable to run their annual holiday trains this year due to the pandemic, they continued delivering donations to communities along their lines.
Englewood, Colo.-based Alpenglow Rail has opened a 51-acre rail terminal in Port Arthur, Texas. In August, the company acquired USA Rail, along with this terminal, which was under construction.
Canadian Pacific (CP) and Kansas City Southern (KCS) have continued their partnerships with the Homes for Heroes Foundation (HFHF) and The Salvation Army, respectively, to hold fundraisers for local communities.
Kansas City Southern’s (KCS) Board of Directors on Nov. 10 approved updates to the railroad’s capital allocation policy.
Kansas City Southern, the first Class I railroad out of the earnings report gate, took a revenue hit based on a carloadings drop, yet managed to post a 58.8% quarterly operating ratio. KCS also will initiate a $500 million share repurchase program on Oct. 16.
The Surface Transportation Board has determined that five of the “Big 7” U.S. Class I railroads achieved revenue adequacy in 2019: BNSF, CSX, Norfolk Southern, Soo Line (the U.S. affiliate of Canadian Pacific) and Union Pacific. STB determined that those Class I’s achieved a rate of return on investment (ROI) equal to or greater than the Board’s calculation of the average cost of capital for the freight rail industry, which for 2019 is 9.34%.