AAR “ready to work with Trump”
The Association of American Railroads issued a statement on Donald J. Trump’s inauguration day as President of the United States stating that the rail industry is prepared to work with his Administration:
The Association of American Railroads issued a statement on Donald J. Trump’s inauguration day as President of the United States stating that the rail industry is prepared to work with his Administration:
Union Pacific Corporation on Jan. 19 reported 2016 fourth-quarter net income of $1.1 billion, or $1.39 per diluted share compared to $1.31 per diluted share, in fourth-quarter 2015.
U.S. Senator Bob Menendez, the ranking member of the Senate’s mass transit subcommittee, met today with U.S. Department of Transportation (USDOT) Secretary-designate Elaine Chao to impress upon her that advancing the Gateway project to replace the aging Hudson River rail tunnels must be the nation’s top transportation infrastructure priority in the Trump Administration.
Rail shippers “are more confident in the economy, and the new Trump Administration is providing a degree of both hopeful optimism and uncertainty,” according to Cowen and Company’s 4Q16 Rail Shipper Survey. “Overall, the survey is positive for the rails, in our view.”
Optimism was the main thread that ran across the presentations we saw at the Midwest Association of Rail Shippers (MARS) meeting in Chicago Jan. 11-12. Most people felt better about the economy and, while many were positive about the new administration’s view on corp taxes, there was reservation about trade policies. We continue to believe that the rails will show notable earnings improvement in ’17.
ZTR Control Systems, a supplier of monitoring and control systems for the railway and industrial off-road equipment markets since 1987, is focusing its R&D and product development efforts on digital solutions.
The Greenbrier Companies Inc. on Jan. 6 reported financial results for its first fiscal quarter ended Nov. 30, 2016. The company said it is off to a strong start, with net earnings of $25.0 million, or $0.79 per diluted share, on revenue of $552.3 million.
GE Transportation announced its acquisition of Iders Incorporated, an electronic product design and manufacturing company for the rail industry.
The Association of American Railroads (AAR) reported Dec. 7 that total U.S. weekly rail traffic for the week ending December 3, 2016 was 53,130 carloads and intermodal units, up 2% compared with the same week last year, and the third consecutive week that saw a rise in traffic.
CSX Corporation Executive Vice President and Chief Financial Officer Frank Lonegro updated investors and analysts Nov. 30 at the Credit Suisse 4th Annual Industrials Conference regarding the company’s expectations for fourth-quarter earnings per share and volume: