CSX: ‘Solid Earnings Growth’ for 3Q22 (Updated, Cowen)
“I would like to thank Jim Foote and the entire CSX team for delivering another quarter of solid earnings growth,” CSX President and CEO Joe Hinrichs said during the Class I railroad’s
“I would like to thank Jim Foote and the entire CSX team for delivering another quarter of solid earnings growth,” CSX President and CEO Joe Hinrichs said during the Class I railroad’s
Manna Capital Partners is planning a $600 million beverage production and distribution complex at a CSX-served site in Montgomery, Ala. Also, Aberdeen Carolina & Western Railway (ACWR) has opened the Midland Logistics Park in Cabarrus County, N.C.
SC Ports officials and elected officials gathered on Oct. 17 in North Charleston to celebrate the groundbreaking of the rail-served Navy Base Intermodal Facility, which will provide near-dock rail and inner-harbor barge operation to the Port of Charleston to “ensure fluidity and capacity for the Southeast supply chain.”
Feature film “Train Time” highlights BNSF trains and team members. Also, CSX joins Operation Gratitude to assemble and provide care packages for deployed troops.
Wabtec earlier this month debuted the first of 50 modernized locomotives for CN at its Fort Worth, Tex., plant.
David “Dave” Andrew Fink, former President of Guilford Transportation Industries, died Oct. 11. He was 86. Also, John M. Lewis Jr. is stepping down as CEO of Charlotte Area Transit System (CATS), and Jim Umpleby will continue to lead Caterpillar Inc. following a waiver of the company’s retirement policy.
Ohio Intermodal Services, an IMC company, has opened an 11-acre yard in Louisville, Ky., near CSX and Norfolk Southern and 14 miles from the Port of Louisville.
First Responders Children’s Foundation (FRCF), in partnership with CSX, announces recipients of the 2022 CSX Pride in Service Scholarship. Also, Union Pacific (UP) announces extension of Carta Porte grace period for Mexico shipments; and Nebraska Gov. Pete Ricketts discusses proposed rail park with leaders in Lincoln County.
A strike has been averted for now as the major unions reached tentative agreements. Contracts details are expected to be in line with the Presidential Emergency Board recommendations. The railroads will have to gradually pass through costs as contracts are renewed if they want to keep margins intact. This may prove difficult as we head into an economic slowdown. We continue to favor Canadian Pacific (CP) in the rail group.
CSX is contributing $200,000 to support relief and recovery efforts under way in the Florida and South Carolina communities affected by Hurricane Ian, the Class I railroad reported on Sept. 30.