Railroad News

CN reported fourth-quarter 2017 adjusted net income decreased 6 percent to CA$897 million and adjusted diluted earnings per share (EPS) fell by 2 percent to CA$1.20.

The results exclude the impact of changes in the U.S. corporate tax rate under the new Tax Cuts and Jobs Act. Including the tax benefit, CN reported Q4 2017 net income soared 156 percent to CA$2.6 billion and diluted EPS jumped 164 percent to CA$3.48 compared with Q4 2016's results, CN officials said in a press release.

CN reported fourth-quarter 2017 adjusted net income decreased 6 percent to CA$897 million and adjusted diluted earnings per share (EPS) fell by 2 percent to CA$1.20.

The results exclude the impact of changes in the U.S. corporate tax rate under the new Tax Cuts and Jobs Act. Including the tax benefit, CN reported Q4 2017 net income soared 156 percent to CA$2.6 billion and diluted EPS jumped 164 percent to CA$3.48 compared with Q4 2016's results, CN officials said in a press release.

Norfolk Southern Corp. reported fourth-quarter 2017 adjusted net income of $486 million, or $1.69 per diluted earnings per share (EPS), compared with $416 million, or $1.42 per diluted share, in the same period a year ago.

For full-year 2017, NS posted $1.9 billion in adjusted net income versus $1.7 billion in 2016. Adjusted diluted EPS were $6.61, an 18 percent increase over last year's record diluted EPS of $5.62, NS officials said in a press release.

Norfolk Southern Corp. reported fourth-quarter 2017 adjusted net income of $486 million, or $1.69 per diluted earnings per share (EPS), compared with $416 million, or $1.42 per diluted share, in the same period a year ago.

For full-year 2017, NS posted $1.9 billion in adjusted net income versus $1.7 billion in 2016. Adjusted diluted EPS were $6.61, an 18 percent increase over last year's record diluted EPS of $5.62, NS officials said in a press release.

Boring work for the two tunnels that are part of Los Angeles County Metropolitan Transportation Authority's (LACMTA) Regional Connector Transit Project has been completed and the tunnel boring machine (TBM) used for the work is being retired.

Metra next month will host meetings to gather rider feedback about several changes to the agency's fare structure, including a plan to introduce a day pass for travel between any two zones.

The aim is to create a flexible fare structure that allows Metra to segment and price markets differently, and to give the railroad more flexibility to increase fare revenue while providing more control over ridership impacts from fare changes, agency officials said in a press release.

The Port of Savannah handled more than 4 million 20-foot equivalent units (TEUs) in 2017, an 11 percent increase and the port's highest annual volume ever, the Georgia Ports Authority (GPA) reported yesterday.

Last month, the GPA handled 323,000 TEUs, up 10.6 percent compared with a year ago and the busiest December in the authority's history.

Amtrak says rail infrastructure improvements along its Chicago – Detroit/Pontiac line have been made to enable safe, faster travel along the Michigan passenger and freight corridor.

U.S. Class Is continued to shrink their workforce last month.

As of mid-December, Class Is in the United States employed 145,416 workers, down 0.37 percent since mid-November's employment figure and down 3.19 percent compared with mid-December 2016's level, according to Surface Transportation Board (STB) data.

Trains on Amtrak's Wolverine and Blue Water lines in Michigan have begun traveling faster following recent rail infrastructure improvements, the Michigan Department of Transportation (MDOT) announced yesterday.

Amtrak staff now dispatch trains on the rail corridor between Porter, Indiana, and Dearborn, Michigan — a move that "ensures the efficient movement of passenger trains," said MDOT Office of Rail Director Tim Hoeffner in a press release.

Norfolk Southern Corp. has elected Jennifer Scanlon to its board of directors.

Scanlon is president and chief executive officer of USG Corp. She has been appointed to the NS board's Compensation Committee and the Finance and Risk Management Committee.

The Metropolitan Transportation Authority (MTA) is slated to sign a $3.7 billion contract with Kawasaki for 1,612 new subway cars, The New York Times reported late last week.

Freight-rail industry representatives from the United States, Canada and Mexico are calling for "constructive negotiations" on a new version of the 24-year-old North American Free Trade Agreement (NAFTA).

In an open letter to policymakers, freight-rail associations from each country stressed the importance of trade and the need for a continental railroad network to provide businesses with access to economic markets.

Walter Winzen, founder and chief executive officer of Missouri-based Transportation Products Sales Co. (TPSC), died Jan. 19 of heart failure, the company has announced.

"We are saddened by the passing of Walter Winzen, but confident his leadership will live on in all aspects of the business operations, especially his mission to find solutions that advance the rail industry," said TPSC President Sid Bakker in a press release.  

The Chicago Regional Transportation Authority's (RTA) board last week approved its 2018-2023 regional transit strategic plan, which calls for pursuing public funding for transit.

Titled "Invest in Transit," the plan makes the case for pursuing dependable funding streams that would enable the RTA, the Chicago Transit Authority, Metra and Pace to continue providing service.

California Gov. Jerry Brown has named Joseph Hedges chief operating officer of the California High-Speed Rail Authority (CHSRA).

Hedges will ensure that all construction and engineering elements of the high-speed rail program are delivered within scope, quality standards, budget and schedule throughout the duration of the project, CHSRA officials said in a press release.

Kansas City Southern estimates its 2018 capital program will be between $5530 million and $550 million; down approximately four percent from 2017.

Railroad executives explained during the 2017 Q4 earnings call that the slight reduction in the planned capital program is due to a number of large projects wrapping up in 2017 rather than an indication that growth opportunities are limited.

The freight rail associations representing Mexico, the United States and Canada, sent a joint letter to negotiators ahead of the sixth formal round of North American Free Trade Agreement (NAFTA) discussions being held in Montreal, Quebec, Jan. 23-28.

The California High-Speed Rail Authority (CHSRA) has announced the appointment of Joseph Hedges as its new chief operating officer and Pamela Mizukami as chief deputy director.