On Union Pacific’s April 22 1Q2021 earnings call, chief executive Lance Fritz was peppered with questions about the potential implications of Canadian Pacific or CN acquiring Kansas City Southern. Following is a transcript (edited for clarity) of Fritz’s responses to those questions.
Due in large part to weather-related network disruptions, Union Pacific’s first-quarter 2021 financials lagged those of the prior-year period, but North America’s largest Class I expressed confidence that business will improve, and affirmed its guidance.
Operation Lifesaver, Inc., (OLI) has named Debra Ashworth, a retired Union Pacific employee, and the late Delmar Kittendorf of Marrieta, Ga., as co-winners of the F. Tom Roberts Memorial Volunteer Award, recognizing their rail safety education outreach efforts.
The Port of South Louisiana has completed a six-track rail yard for Dow Chemical, which entered into a 20-year lease agreement with the Port.
Railway Age is pleased to present the results of its second annual Readers’ Influential Leaders program.
Infrastructure engineering software firm Bentley Systems, Inc., has acquired Montreal-based INRO Software; Savage has selected a terminal operating system from Octopi, part of Navis and Cargotec Corp., for a new intermodal terminal at Union Pacific’s rail yard in Pocatello, Idaho.
Two first-quarter 2021 surveys of rail shippers on pricing and business outlook as well as equipment needs conducted by Cowen and Company analysts Jason Seidl (Managing Director and Railway Age Wall Street Contributing Editor), Matt Elkott and Elliot Alper indicate that, compared with the previous quarter, Class I railroad customers are anticipating somewhat higher rate increases, and a slight decline in new railcar demand.
Colorado, Midland & Pacific Railway Co. (CMPR), a wholly owned subsidiary of Rio Grande Pacific Corp. (Rio Grande), will not be able to go forward with the Tennessee Pass Line revival as filed, according to a March 25 decision by the Surface Transportation Board (STB), but the decision leaves open the possibility of re-filing.
Savage and Union Pacific (UP) will open the Savage Railport-Southern Idaho terminal for the export of containerized hay and other agricultural commodities; it will be the first to serve the state of Idaho, they reported.
On the Union Pacific website, Chairman, President and CEO Lance Fritz shared his thoughts on embracing diversity—an important story that Railway Age believes should be shared with a broader audience.