Railroad News

Union Pacific Railroad is investing $20 million to build an additional block swap yard at its Santa Teresa intermodal terminal and refueling station in New Mexico.

The additional block swap yard will allow the Class I to add container blocks to passing trains faster and more efficiently, according to a press release issued by the New Mexico Economic Development Department.

After an end-to-end analysis of the intermodal network through the Unified Plan 2020 initiative, Union Pacific Railroad identified three key changes it plans to implement in the months ahead, Executive Vice President of Marketing and Sales Kenny Rocker wrote in a customer announcement issued yesterday.

The first calls for simplifying the Class I's intermodal complex in Chicago, where the railroad operates six intermodal facilities: five active ramps and an equipment depot.

Union Pacific Railroad is "pausing" construction of its new $550 million Brazos Yard in Robertson County, Texas.

The Class I will shift remaining funds planned for the Brazos construction in 2019 to siding extensions on UP's Sunset route — which runs between Los Angeles and El Paso, Texas — and a block-swap yard in Santa Teresa, New Mexico, a move that will add to UP's network flexibility, Chief Operating Officer Jim Vena told analysts during a first-quarter 2019 earnings conference call last week.

Union Pacific Corp. today announced a 6 percent increase in net income during the first-quarter, despite dealing with severe flooding and a 2 percent decline in business volumes.

The Class I posted Q1 2019 net income of $1.4 billion, or $1.93 per diluted share, compared with $1.3 billion, or $1.68 per diluted share, in the same period a year ago, according to a UP press release.

Union Pacific Railroad will host a celebration May 9 in Ogden, Utah, to mark the 150th anniversary of the transcontinental railroad's completion.

The ceremony will be held at Ogden Union Station, a day ahead of Utah's celebration at Promontory Summit where the "golden spike" was originally tapped into place, according to a UP press release.

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Union Pacific Railroad yesterday announced executive appointments for Jon Panzer, Jennifer Hamann and Gary Grosz.

The appointments take effect April 1, according to a UP press release.

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Union Pacific Corp. today reported record fourth-quarter net income of $1.6 billion and diluted earnings per share of $2.12, up 29 percent and 39 percent, respectively, compared with adjusted results for fourth-quarter 2017.

Union Pacific Railroad will be part of this week's funeral procession for President George H.W. Bush, who died Nov. 30 at the age of 94.

Following funeral and memorial services in Washington, D.C., and Houston, Bush will be transported by the funeral train from Spring to College Station, Texas, on Thursday.

Union Pacific Corp. has named Printz Bolin vice president-external relations, effective Dec. 1. He will succeed Mike Rock, who will retire Feb. 15, 2019, after 29 years of service at the Class I.

Currently assistant VP-external relations, Bolin will continue to work out of UP's office in Washington, D.C., when he starts his new role, UP officials said in a press release.

Union Pacific Railroad is making progress on its plan to implement positive train control (PTC) and will meet all required deadlines for installing the safety technology on its network, the Class I announced yesterday.

"As allowed by federal law," UP will continue to implement, test and refine the technology during 2019 and 2020, company officials said in a press release.

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Today, Union Pacific Railroad announced its third-quarter diluted earnings per share reached $2.15, representing a 43 percent year-over-year increase and an all-time quarterly record.

The Surface Transportation Board (STB) has asked Union Pacific Railroad senior management to hold weekly phone calls with the board's Rail Customer and Public Assistance Office as the Class I implements its new precision scheduled railroading plan.

STB Chairwoman Ann Begeman and Vice Chairwoman Deb Miller wrote yesterday to UP Chairman, President and Chief Executive Officer Lance Fritz after UP informed the board of the railroad's new operations plan. In seeking to maintain weekly communications with UP management, the board is trying to help prevent freight-rail service problems that arose when UP competitor CSX implemented precision scheduled railroading last year.

Union Pacific Railroad next month will launch a new operating plan that will implement precision scheduled railroading principles.

UP's "Unified Plan 2020" will launch Oct. 1 and will be rolled out in phases across the Class I's network. Resulting benefits are expected to help UP achieve its 60 percent operating ratio goal by 2020, on the way to achieving a 55 percent operating ratio, company officials said in a press release.

Union Pacific Railroad plans to procure 1,000 high-tech refrigerated boxcars — and up to 1,600 if needed — which would mark one of the largest equipment acquisitions in UP history.

Brad Thrasher, UP's vice president-agricultural products, revealed the Class I's plans during a transportation workshop at the Idaho Grower Shippers Association's convention late last month, according to a Sept. 6 report in The Produce News.

Union Pacific Corp. announced yesterday that William DeLaney has been elected to the company's board.

DeLaney, 62, served as Sysco Corp. chief executive officer from March 2009 until he retired at the end of 2017.

Vista Proppants and Logistics LLC has entered into a definitive agreement with JupiterMLP LLC for transloading crude oil from truck to rail at its facility in Pecos, Texas.

Vista and Jupiter plan to ship crude oil via Union Pacific Railroad through 2019 and potentially into 2020, depending on pipeline construction timelines and capacity availability, the companies announced earlier this week in a press release.