Chemicals, industrial products aid UP quarter
Union Pacific Corp. reported 2017 fourth quarter net income of $7.3 billion, or $9.25 per diluted share compared to $1.39 per diluted share in the year-ago quarter.
Union Pacific Corp. reported 2017 fourth quarter net income of $7.3 billion, or $9.25 per diluted share compared to $1.39 per diluted share in the year-ago quarter.
Chicago South Shore & South Bend Railroad (CSS) will expand business opportunities at a strategic location in Gary, Ind., through a lease of five miles of track from CN.
Railway Age is now accepting entries for its annual Short Line/Regional Railroad of the Year competition. Short lines and regionals—and there are more than 600 of them—are invited to submit entries describing outstanding achievement in one or a combination of areas.
Canadian Pacific Railway strengthened its Sales and Marketing team with the addition of two new vice presidents and reorganized the group’s structure to better meet the needs of current and future customers.
Scott Hudson has been named senior transit and rail manager in the Dallas office of WSP USA, formerly WSP | Parsons Brinckerhoff, the engineering and professional services consultancy.
Canadian National Railway said net income increased by 156% to C$2.61 billion ($2.12 billion) in the fourth quarter from a year ago while earnings per share soared by 164% to C$3.48 ($2.82) on changes to the U.S. corporate tax rate that saw a deferred income tax recovery of C$1.76 billion, or C$2.35 per share.
Norfolk Southern said net income for the fourth quarter totaled $3.97 million and earnings per share were $13.79, thanks to federal tax cuts that added $3.48 billion to the bottom line. For the year, net income was $5.4 billion with earnings per share of $18.61, which added $12.10 for the quarter and $12 for the year on the tax reform legislation.
Petroleum and related products were one of the few gainers as the Association of American Railroads reported U.S. weekly rail traffic was 508,239 carloads and intermodal units, down 2.9% from the same week a year ago.
Members of the Transportation Communications International Union (TCU) and Brotherhood Railway Carmen (BRC) have ratified new contract terms with the nation’s major freight railroads covering more than 17,000 employees.
New York’s Metropolitan Transit Authority plans to spend more than $1.4 billion to purchase 535 new subway cars to replace the oldest cars operating on its lettered lines. The initial order with