Union Pacific Photograph

UP 1Q24: ‘Strong’ Financial Results Despite ‘Challenging’ Freight Market (Updated, Interview with Jim Vena and TD Cowen Insight)

“Our team delivered strong financial results in the first quarter as we navigated a challenging freight market and normal winter conditions,” Union Pacific (UP) CEO Jim Vena said during the Class I’s financial report on April 25. “These results build on the momentum we established as we exited 2023 and provide further proof of what’s possible as we strive to be the best in safety, service and operational excellence. This is a great start to the year, but we understand there’s work to be done to achieve our goals and meet our stakeholders’ expectations.”

(SEPTA image)

Transit Briefs: CTA, SEPTA, NYMTA/LIRR

The Chicago Transit Authority (CTA) officially launches a new chatbot to improve customer interaction. Also, the Southeastern Pennsylvania Transportation Authority (SEPTA) begins the installation phase of its new wayfinding system; and the New York Metropolitan Transportation Authority (MTA) celebrates the 190th anniversary of the founding of the Long Island Rail Road (LIRR).

(Carolina Worrell)

Wabtec: ‘Strong’ Start to 2024 ‘Continues Momentum’ From 2023 (UPDATED, 4/25)

“The Wabtec team delivered a strong start to 2024, continuing the momentum experienced in 2023. This was evidenced by higher sales, margin expansion, and increased earnings in the quarter,” President and CEO Rafael Santana said in an April 24 earnings announcement. Sales were up 13.8% year-over-year, driven by sales growth in both the Freight and Transit segments.

Union Pacific transported Vestas V163-4.5 MW wind turbine blades, the largest wind blade moved across U.S. rail networks. (UP photo)

Class I Briefs: UP, CSX, NS

Union Pacific (UP) collaborates with Vestas to ship the largest wine turbine blades across the country by rail. Also, CSX Assistant Controller Thomas McDuffie is named a Rising Star by the Florida Institute of CFOs (fiCFO); and the National Association of Manufacturers (NAM) commends Norfolk Southern’s (NS) role in supply chain continuity amid Baltimore disruptions.

Intramotev photo

Intramotev, Carmeuse Partner to Deploy TugVolt Technology

Zero-emissions rail solutions technology company Intramotev announced April 24 that it is partnering with global mining company Carmeuse Americas to deploy its TugVolt technology at a mining site in Cedarville, Mich.

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CPKC 1Q24: ‘Well Positioned to Deliver on 2024 Guidance’

“We exited last year with strong momentum and our performance in the first quarter, combined with an improving demand environment, has us well positioned to deliver on our 2024 guidance,” Canadian Pacific Kansas City (CPKC) President and CEO Keith Creel said in an April 24 earnings announcement. “As we enter the second year of our forever story, we are focused on safely executing on the unique and undeniable opportunities this franchise creates and delivering long-term value for our employees, customers and shareholders.”

CN’s Robinson: ‘Our Team of Railroaders Delivered to Plan’

“Our team of railroaders delivered to plan in the first quarter and our scheduled operating model continued to enhance our service to customers,” CN President and CEO Tracy Robinson said during the Class I’s first-quarter 2024 financial and operating announcement on April 23. “Looking forward, we are confident for 2024. We are seeing the expected improvements in the economy, and our CN-specific growth opportunities are materializing. We remain committed to delivering on our growth agenda and powering the economy.”

Beginning May 5, RTD-PD will move to a 24/7 staffing model. (Denver RTD photo)

Transit Briefs: Metra, Denver RTD, Amtrak OIG

Metra schedules 47 safety blitzes in 2024. Also, Denver Regional Transportation District’s (RTD) Transit Police will implement 24/7 patrols beginning May 5; and the Amtrak Office of Inspector General (OIG) identifies opportunities for Amtrak to better use its customer service data to improve the customer experience.

Lauren Cochran, Head of Sales and Business Development, Stadler US. (Image Courtesy of Stadler US via LinkedIn)

Cochran Named Stadler US Head of Sales and Business Development

Stadler US on April 22 announced that Lauren Cochran has been named as Head of Sales and Business Development for North America.

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Amtrak Petitions FRA for Waiver of Compliance Regarding Loss of Shunt Incidents

Amtrak on Oct. 17, 2023, petitioned the Federal Railroad Administration (FRA) for a waiver of compliance from certain provisions of the Federal railroad safety regulations contained at 49 CFR part 229 (Railroad Locomotive Standards).

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