Locomotive orders aid GE Transportation 2Q
GE Transportation reported $1.6 billion in second-quarter 2012 revenue, up 27% year-over-year, and a segment profit for the quarter of $282 million, up 58% from $178 million in the second quarter of 2011.
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MTA restores or enhances service offerings
New York’s Metropolitan Transportation Authority Thursday said it would add or extend regional rail, subway, and bus services, most of which had been curtailed or discontinued due to earlier budget crises.
ASLRRA: 51 Senate cosponsors for tax credit
The American Short Line and Regional Railroad Association (ASLRRA) Friday said it had reached a major milestone “by securing the 51st Senate co-sponsor of legislation to extend the short line rehabilitation tax credit (45G). The legislation has now been sponsored by a majority of both Houses of Congress.”
GE, UP herald 5,000th Evolution Series locomotive
Erie, Pa.-based GE Transportation Friday announced the rollout of the 5,000th Evolution Series Locomotive, in production since since 2005.
OmniTRAX’s Mike Ogborn to retire
Transportation management company OmniTRAX, Inc. said late Thursday that Managing Director and Executive Vice President Mike Ogborn will retire. No specific date was given.
GATX Corp. 2Q income down; still beats Street
GATX Corp. reported second-quarter net income of $23.5 million, or 49 cents per share, down 11% from $26.4 million, or 56 cents per share, it notched in the second quarter of 2011. Adjusted earnings results of 80 cents per share, however, still beat Wall Street consensus analyst expectations of 61 cents per share.
Weekly traffic up throughout North America: AAR
Freight carload traffic volume and intermodal movements notched a North American trifecta in the week ending July 14, 2012, measured against the comparable week of 2011, the Association of American Railroads reported Thursday.
Union Pacific 2Q beats Street, sets records
Union Pacific Thursday reported second-quarter earnings of $1 billion, or $2.01 per share, up 28% from $785 million in the second quarter of 2011. Earnings, along with revenue of $5.22 billion in the quarter, outstripped Wall Street consensus analyst estimates of $1.97 earnings per share on revenue of $5.23 billion. Both categories were all-time highs for the company.
FTA to Tucson: Buy another streetcar
Tucson’s order of seven streetcars from United Streetcar, LLC isn’t adequate to serve the city’s four-mile line, now under construction, the Federal Transit Administration says. FTA recommends an eighth car be purchased.
June employment up for month and for year
U.S. Class I railroads employed 163,159 workers in mid-June, up 0.38% from May and 2.40% from June 2011.
Business Development Manager
Business Development Manager
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InnoTrans: Discount registration available
The North American representative office of InnoTrans said Wednesday that discount registration is being offered to all prospective North American attendees of the show.
CTA to modernize maintenance facilities
Chicago Transit Authority President Forrest Claypool was joined by Chicago Mayor Rahm Emanuel Tuesday to mark the launch of a $205 million program to rehabilitate and modernize the agency’s rail and bus maintenance facilities.
USPS ponders boosting mail by rail
Hit-or-miss efforts (mostly miss) by the U.S. Postal Service to move mail by railroad have characterized the mode’s declining mail modal share for decades, but the USPS is once more eyeing freight railroads as a way to lower costs and improve efficiency.
CP, frac sand company announce pact
Canadian Pacific and Smart Sand, Inc., Wednesday announced a strategic long-term partnership “under which the two companies will supply and ship premium, Northern White frac sand to the unconventional oil and gas industry in key North America producing regions (including the Bakken and Eagle Ford formations, and the Utica and Marcellus Shales).”
CSX earnings rise, operating ratio falls
CSX Corp. late Tuesday announced second-quarter net earnings of $512 million, or $0.49 per share, versus $506 million, or 46 cents per share, in the same period last year—a 7% year-over-year improvement.
FRA, OSHA act to protect whistleblowers
The Federal Railroad Administration and the Occupational Safety and Health Administration announced Monday an agreement “to improve coordination between the two agencies in enforcing the whistleblower provision of the Federal Railroad Safety Act (FRSA).”
Bechtel completes Dulles aerial guideway
A Bechtel-led team has completed construction of a three-mile aerial guideway that is part of the 11.7 mile alignment in Phase 1 of the Dulles Corridor Metrorail Project. The guideway will carry WMATA Metrorail trains over major highways and through Tysons Corner, Va.,a busy suburban Washington business center.
Intermodal powers KCS to record quarter
With a 23% increase in intermodal revenue taking some of the sting out of 14% slump in revenue from utility coal, Kansas City Southern has reported second-quarter 2012 revenue of $545 million. That’s an increase of 2% over the second quarter of 2011.
Alstom chosen for Denmark ERTMS
Alstom says it has signed a contract with Danish railway infrastructure owner Banedanmark to deliver on-board equipment to railway operators in Denmark, and to equip 503 train cars with Atlas ERTMS1 signaling capabilities.