Road and Rail Railroads

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  • CHICAGO, July 27- Norfolk Southern Corp, the No. 4 U.S. railroad, on Wednesday reported a lower quarterly net profit due to a 7 percent drop in freight volumes, but the results just exceeded market expectations because of cost cutting and efficiency measures. The decline in freight at the Norfolk, Virginia- based company was led by a precipitous 25 percent drop in...

  • CHICAGO, July 27- Norfolk Southern Corp, the No. 4 U.S. railroad, on Wednesday reported a lower quarterly net profit due to a 7 percent drop in freight volumes, but the results just exceeded market expectations because of cost-cutting and efficiency measures. The decline in freight at the Norfolk, Virginia- based company was led by a precipitous 25 percent drop in...

  • OMAHA, Neb.— Norfolk Southern's second-quarter profit declined 6 percent as it hauled 7 percent less freight and cut costs. Chairman and CEO Jim Squires said the railroad remains on track to cut $200 million in expenses this year as part of a multiyear plan to eliminate $650 million in costs by 2020.. The analysts surveyed by Zacks Investment Research expected...

  • TORONTO, July 25- Canadian National Railway Co reported better-than-expected second-quarter earnings on Monday even as a decline in shipments cut into revenue, but said it expects volumes to improve in the months ahead. Net income fell to C $858 million, or C $1.10 a share, from C $886 million, or C $1.10 a share, a year earlier. Excluding the impact of deferred income...

  • TORONTO, July 25- Canada will take older tank cars out of crude-by-rail service much earlier than originally planned, the government said on Monday, in its latest move to toughen rail safety after a deadly 2013 crash. Both types of cars will now be taken out of service by Nov. 1, 2016, said Delphine Denis, a spokeswoman with the office of Transport Minister Marc...

  • CHICAGO, July 21- Union Pacific Corp on Thursday posted a lower quarterly net profit that was hurt by slumping freight volumes- especially coal- and warned the strong U.S. dollar, soft global economy and weak consumer demand would weigh on the No. 1 U.S. railroad's business in the second half of 2016.. The railroad reported second-quarter net income of $980 million,...

  • CHICAGO, July 21- Full-year 2016 freight volumes at Union Pacific Corp could fall between 6 percent and 8 percent from 2015, driven by declining coal volumes, weak shale oil business and the strong U.S. dollar, the company's top executive said on Thursday. Chief Executive Lance Fritz told Reuters a "not very robust" showing by U.S. consumers would also hurt freight.

  • What is Trump's energy policy?

    Donald Hoffman, EXCEL Services Corp. CEO, discusses Donald Trump's position on coal and energy policies.

  • CHICAGO, July 21- Union Pacific Corp on Thursday reported a lower quarterly net profit that was hurt by falling freight volumes, especially coal, and warned the strong U.S. dollar, soft global economy and weak consumer demand would keep weighing on the No. 1 U.S. railroad's business in the second half of 2016.. The Omaha, Nebraska- based company said overall freight...

  • CHICAGO, July 21- Union Pacific Corp on Thursday reported a lower quarterly net profit that was hurt by falling freight volumes, especially coal, and warned the strong U.S. dollar, soft global economy and weak consumer demand would keep weighing on the No. 1 U.S. railroad's business in the second half of 2016.. The Omaha, Nebraska- based company said overall freight...

  • OMAHA, Neb.— Union Pacific's second-quarter profit fell 19 percent as the railroad hauled 11 percent less freight. The 14 analysts surveyed by Zacks Investment Research predicted earnings of $1.17 per share on average. Union Pacific said shipments slowed in every category except agricultural goods.

  • Singapore state investor Temasek will buy the 46 percent stake in SMRT that it does not already own for about $869.31 million.

  • RALEIGH, N.C.— CSX Corp. will build an intermodal cargo hub near the Virginia border in Edgecombe County after landowner opposition blocked the railroad company's first option, officials said Tuesday. North Carolina will spend about $100 million for track improvements and other transportation infrastructure, plus tax breaks worth up to $4 million.

  • CHICAGO, July 19- U.S regional railroad Kansas City Southern on Tuesday reported a higher-than-expected second-quarter profit, helped by cost cutting, but its freight volumes were flat and revenue fell more than analysts had forecast. Kansas City Southern reported a 13 percent decrease in operating expenses to $348.6 million from $399 million.

  • WASHINGTON, July 13- U.S. regulators on Wednesday proposed a rule on trains carrying crude that requires railroads to share information on the shipments with local governments and emergency responders, a month after a fiery derailment of an oil train along Oregon's scenic Columbia River gorge. The rule proposed by the Transportation Department's Pipeline...

  • CHICAGO, July 13- CSX Corp, the third-largest U.S. railroad, on Wednesday posted a lower second-quarter net profit that beat expectations as lower costs partly offset a 34 percent drop in coal volumes. The railroad's shares rose more than 4 percent on the news which came before the market closed. On Wednesday the Association of American Railroads said that...

  • CSX CEO talks earnings, coal

    Michael Ward, CSX Corporation Chairman & CEO, discusses the company's earnings release and how the price of coal is affecting the rail operator.

  • CHICAGO, July 13- CSX Corp, the third-largest U.S. railroad, on Wednesday posted a lower second-quarter net profit that beat expectations as lower costs partly offset a 34 percent drop in coal volumes. On Wednesday the Association of American Railroads said that year-to-date through July 9, freight on all U.S. railroads was down 7.7 percent from the same period in...

  • CHICAGO, July 13- CSX Corp, the third-largest U.S. railroad, on Wednesday reported a lower second-quarter net profit, driven by an overall decline in freight volumes of 9 percent. The Jacksonville, Florida- based company posted net income of $445 million, or 47 cents per share, down nearly 20 percent from $553 million, or 56 cents per share, a year earlier.

  • BEIJING, June 29- China's rail freight volume fell 7.7 percent in the first five months of 2016 from a year earlier to 1.32 billion tonnes, the country's top economic planner said late on Tuesday.