Net income of $1.2 billion, compared with 2014 net income of $1.3 billion, combined with an operating revenue decrease of 10% and an operating income down 11%, resulted in a flat second-quarter 2015 for Union Pacific (UP), the railroad reported on July 23, 2015.
Railroads that are revenue adequate and earn their cost of capital should not be punished by capping their shipping rates, which would discourage the substantial and mostly private investment in the nation’s critical rail transportation infrastructure, CSX Executive Vice President and CFO Fredrik Eliasson told the Surface Transportation Board at a July 22 hearing.
Testifying at a July 22, 2015 Surface Transportation Board hearing on railroad revenue adequacy, the Association of American Railroads, executives from its member railroads and economic experts urged federal regulators “to beware of upending numerous national economic goals” if they choose to pursue re-instituting revenue caps on freight rail companies.
Canadian Pacific Railway on July 21, 2015 posted its highest-ever net income and lowest-ever operating ratio for a second quarter.
Net income of C$866 million, compared with net income of C$847 million in second-quarter 2014, combined with an operating income increase of 8% and a record-low quarterly operating ratio of 56.4%, resulted in a solid second-quarter 2015 for CN, the railroad reported on July 20, 2015.
A revenue decline in all but one commodity group, including a precipitous drop in energy revenue, resulted in a difficult second-quarter 2105 for Kansas City Southern, the railroad reported on June 17, 2014.
Kansas City Southern has named Brian D. Hancock, a veteran supply chain executive with experience in home appliances, trucking, fast food and discount consumer products, as Executive Vice President and Chief Marketing Officer.
With quarterly operating income of more than $1 billion, an operating ratio of 66.8%, and net earnings of $553 million, CSX posted record financial results for the second quarter of 2015.
The American Association of Railroad Superintendents (AARS) has announced a call for applications for the Michigan State University Railway Management Certificate Course Scholarship sponsored by Progress Rail Services.
Tools and techniques both new and old help railroads cope with weather extremes.