Despite third-quarter 2021 supply chain challenges, Canadian Pacific’s (CP) “commitment to the foundations of precision scheduled railroading enabled us to respond quickly and effectively,” President and CEO Keith Creel said during the railroad’s earnings announcement on Oct. 20.
CN on Oct. 19 followed former merger partner Kansas City Southern (KCS) in reporting financial results for third-quarter 2021, posting C$3.591 billion in revenues—up 5% over the prior-year period; at the same time, CN announced President and CEO JJ Ruest’s planned retirement.
Kansas City Southern (KCS) on Oct. 19 was the first Class I to report third-quarter 2021 earnings. Revenue for the potentially merger-bound railroad—back with original suitor Canadian Pacific (CP)—came in at $744.0 million, growing 13% from the prior-year period ($659.6 million), but volumes fell.
Kansas City Southern (KCS) on Oct. 13 reported that Sameh Fahmy, Executive Vice President Precision Scheduled Railroading (PSR), will leave the company by year-end.
Kansas City Southern (KCS) has signed on with Houston, Tex.-based Commtrex to help connect shippers with its more than 100 transload facilities in the United States and Mexico.
The Surface Transportation Board on Sept. 30 issued a decision essentially reaffirming that the Canadian Pacific-Kansas City Southern voting trust, which it approved on May 6, 2021, still stands. STB’s decision was not unanimous, however, with Member Robert Primus voicing the lone dissent.
“I am elated for our CP family,” an understandably energized Canadian Pacific President and CEO Keith Creel told Railway Age Editor-in-Chief William C. Vantuono the day after a joint call with analysts with his
Kansas City Southern (KCS) will not operate its Holiday Express train for the second consecutive year due to the pandemic, but the Class I railroad is celebrating the program’s 21st anniversary with its fundraiser benefiting The Salvation Army.
Get used to the acronym “CPKC,” which stands for Canadian Pacific Kansas City, the name of the Class I railroad that will begin operations sometime within the next 18 to 24 months, provided the Surface Transportation Board approves—as many industry observers and analysts believe it will—the merger of the Canadian Pacific and the Kansas City Southern. The two railroads have circled back to pretty much the original merger agreement they announced on March 21, 2021, one month before CN began its attempt to wrest the deal away from CP with a higher bid.
RAILWAY AGE, SEPTEMBER 2021 ISSUE: Workforce management is evolving from paper-based record-keeping to cloud-based applications that improve efficiency and transparency.