Rail News Home Union Pacific Railroad 4/22/2021 Rail News: Union Pacific Railroad
Union Pacific Corp. today reported first-quarter 2021 net income of $1.3 billion, or $2 per diluted share, compared with $1.5 billion, or $2.15 per diluted share, during the same period a year ago.The Class I’s operating revenue of $5 billion declined 4% during the quarter. Business volumes, as measured by total revenue carloads, fell 1% compared to Q1 2020 due to declines in industrial and bulk shipments, partially offset by strength in premium carloads.The quarter presented "some real challenges that impacted our results," said Lance Fritz, UP's chairman, president and chief executive officer."We generated solid productivity through efficient use of our resources despite the significant weather event that covered most of our network in February and early March," Fritz said in a press release. "Looking to the rest of the year, an improving economic outlook, our continued commitment to value based pricing that exceeds inflation and the opportunity for strong productivity give us confidence to affirm our 2021 guidance."UP reported a Q1 operating ratio of 60.1%, up from 59% last year. The increase was attributed to weather and rising fuel prices.Quarterly freight revenue declined 5%, as core pricing gains were more than offset by a less favorable business mix, decreased fuel surcharge revenue and volume declines.Also during the quarter, UP's “service product and lower cost structure” attracted new business and growth opportunities, Fritz said."There are many more growth opportunities to capture by also helping our customers efficiently and reliably reduce the carbon intensity of their supply chains," he said.
Railroad News
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Apr
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Apr
22
Canadian Pacific yesterday reported first-quarter 2021 revenue declined to CA$1.96 billion from CA$2.04 billion a year ago, while net income climbed to CA$602 million from CA$409 million.
The Class I posted adjusted earnings per share (EPS) of CA$4.48, up 1% from CA$4.42 a year ago. Operating income declined to CA$780 million CA$834 million in the previous year’s quarter.
Apr
22
Canadian Pacific yesterday reported first-quarter 2021 revenue declined to CA$1.96 billion from CA$2.04 billion a year ago, while net income climbed to CA$602 million from CA$409 million.
The Class I posted adjusted earnings per share (EPS) of CA$4.48, up 1% from CA$4.42 a year ago. Operating income declined to CA$780 million CA$834 million in the previous year’s quarter.
Apr
21
Rail News Home CSX Transportation 4/21/2021 Rail News: CSX Transportation
The Class I posted Q1 net earnings of $706 million, or $0.93 per share.Photo – csx.com
The Class I posted Q1 net earnings of $706 million, or $0.93 per share.Photo – csx.com
CSX Corp. yesterday announced decreases in first-quarter 2021 revenue and net income compared with the same period a year ago due to difficult operating conditions during the quarter.
The Class I posted Q1 net earnings of $706 million, or $0.93 per share, compared with $770 million, or $1 per share in the same period last year. Revenue for the quarter decreased 1% to $2.81 billion, as intermodal and other revenue growth was more than offset by declines in merchandise, coal and fuel surcharge revenue.