Management

CN toughs out a challenging first quarter

“The winter of a lifetime,” as described by CN President and CEO Claude Mongeau, bumped up CN’s first-quarter 2014 operating expenses and ratio compared to the year-ago quarter, but despite these challenges, the railroad posted gains in revenues, operating income, and net income.

For CP, a record first-quarter 2014

With net income of C$254 million or C$1.44 per diluted share, Canadian Pacific has posted “the best first quarter financial results in company history,” Chief Executive Officer E. Hunter Harrison announced April 21, 2014.

For Union Pacific, a strong first quarter

Union Pacific on April 17, 2014 reported 2014 first quarter net income of $1.1 billion, or $2.38 per diluted share, compared to $957 million, or $2.03 per diluted share, in first-quarter 2013, a 17% improvement. Operating revenues totaled $5.6 billion, up 7%; operating income totaled $1.85 billion, up 14%; the operating ratio of 67.1% improved 2.0 points, a first-quarter record.

Mongeau continues assault on “intrusive re-regulation”

“Intrusive re-regulation of railways alone will not increase rail volumes of grain, now or in the future,” CN President and CEO Claude Mongeau said in an address to the Winnipeg Chamber of Commerce. “Canada’s grain handling and transportation system can only succeed in efficiently moving more grain to market if commercial incentives align the supply chain and if all supply chain participants are held accountable for their performance.”

Intermodal leads weekly traffic gains

The Association of American Railroads (AAR) on April 10, 2014 reported increased U.S. rail traffic for the week ending April 5, 2014 with 296,039 total U.S. carloads, up 5.4% compared with the same week last year. Total U.S. weekly intermodal volume was 261,084 units, up 12.6% compared with the same week last year. Total combined U.S. weekly rail traffic was 557,123 carloads and intermodal units, up 8.7% compared with the same week last year.

LOAD MORE