Transportation Road and Rail

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  • Old Dominion misses Street 4Q forecasts Thursday, 4 Feb 2016 | 7:41 AM ET

    THOMASVILLE, N.C. _ Old Dominion Freight Line Inc. on Thursday reported fourth-quarter earnings of $72.2 million. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share. Four analysts surveyed by Zacks expected $742.2 million.

  • LONDON, Feb 3- The United States was one of the biggest sources of oil demand growth in 2015 but the outlook for 2016 is much more muted, according to official forecasters. The volume of traffic on U.S. roads has also hit a new record and is growing at the fastest rate for almost two decades, according to the Federal Highway Administration. But the volume of freight...

  • WASHINGTON— Three of the biggest freight railroads operating in the U.S. have told the government they won't meet a 2018 deadline to start using safety technology intended to prevent accidents like the deadly derailment of an Amtrak train in Philadelphia last May. Canadian National Railway, CSX Transportation and Norfolk Southern say they won't be ready...

  • C.H. Robinson tops 4Q profit forecasts Tuesday, 2 Feb 2016 | 4:30 PM ET

    EDEN PRAIRIE, Minn. _ C.H. Robinson Worldwide Inc. on Tuesday reported fourth-quarter earnings of $126.6 million. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share. Eight analysts surveyed by Zacks expected $3.31 billion.

  • USA Truck posts 4Q profit Tuesday, 2 Feb 2016 | 7:27 AM ET

    VAN BUREN, Ark. _ USA Truck Inc. on Tuesday reported fourth-quarter earnings of $3.9 million. On a per-share basis, the Van Buren, Arkansas- based company said it had profit of 39 cents. USA Truck shares have fallen almost 6 percent since the beginning of the year.

  • MOSCOW— Russia's long-haul trucks are no longer allowed into Turkey, a Russian trucking union and lobby group said on Monday. The Association of International Truckers said in a statement on its website that Turkey refused to renew an agreement allowing Russian truckers to bring goods into Turkey. While Turkey initially benefited from a slight uptick in...

  • Google-backed start-up aims to fix traffic Friday, 29 Jan 2016 | 8:00 AM ET
    Google-backed start-up aims to fix traffic

    Urban Engines wants commuters to travel during off-peak hours to reduce congestion in cities.

  • BEIJING, Jan 26- China's rail freight volume dropped 11.9 percent in 2015 from a year earlier to 3.36 billion tonnes, the nation's top economic planner said on Tuesday, compared with a decline of 3.9 percent in 2014.. For the fourth quarter, the amount of cargo moved by railways declined 13.4 percent year on year, the National Development and Reform Commission said...

  • Canadian companies' profits hurt by oil price rout Sunday, 24 Jan 2016 | 11:00 AM ET

    TORONTO, Jan 24- The oil price rout and related Canadian dollar slide that is ravaging the country's economy is starting to take its toll on corporate profits, from rail and retail to seemingly unrelated sectors like telecoms. "It's a huge negative impact on earnings," said John Stephenson, head of Stephenson& Co Capital Management, who predicts the fallout will be...

  • CHICAGO, Jan 21- Facing a freight recession caused by slumping commodity prices and industrial output, No. 1 U.S. railroad Union Pacific Corp said Thursday hopes of strong economic growth have so far been undermined by a key missing ingredient- the American consumer. "What's causing us some concern is it's hard to figure out where the consumer is at," Chief Executive...

  • CHICAGO, Jan 21- Union Pacific Corp reported a lower quarterly profit on Thursday as slumping commodities prices and ailing industrial production hurt freight volumes, and the No. 1 U.S. railroad warned 2016 does not look much better for its business. The news sent the Omaha, Nebraska- based company's shares down more than 7 percent to $68.20 in early trading.

  • CHICAGO, Jan 21- Union Pacific Corp reported a lower quarterly profit on Thursday as a slump in commodities prices and ailing industrial production hurt freight volumes, and the No. 1 U.S. railroad warned that 2016 does not look much better for its business. "Overall economic conditions, uncertainty in the energy markets, commodity prices, and the strength of the...

  • CP's net income slipped 29 percent to C $319 million, or C $2.08 per share, in the three months ended Dec. 31. Calgary-based CP, Canada's No. 2 railroad, unveiled a $28 billion offer for Norfolk Southern in mid-November. CP's adjusted profit of C $2.72 per share fell short of the average analyst estimate of C $2.77, according to Thomson Reuters I/B/E/S.

  • Canada's No. 2 railroad said its net income slipped to C $319 million, or C $2.08 per share, in the three months ended Dec.31, from C $451 million, or C $2.63 per share, a year earlier. Revenue slipped 4 percent to C $1.68 billion. CP says a merger would enhance competition and create new markets and options for customers across North America.

  • FREIGHT VOLUME FALLS FOR FIRST TIME IN ALMOST. LONDON, Jan 15- Freight volumes in the United States have fallen year on year for the first time since 2012 and before that the recession of 2009, according to the Bureau of Transportation Statistics. The total volume of freight moved by road, rail, pipeline, inland waterways and as air cargo in November 2015 was 1.1...

  • CHICAGO, Jan 13- No. 3 U.S. railroad CSX Corp does not see any compelling benefits stemming from mergers of major railroads in North America and fears regulatory burdens could be attached to the approval of deals that would add to the cost of doing business, the railroad's top executive said on Wednesday. "The benefits seem somewhat unconvincing, I really think the...

  • CHICAGO, Jan 13- No. 3 U.S. railroad CSX Corp does not see any compelling benefits stemming from mergers of major railroads in North America and fears regulatory burdens could be attached to the approval of deals that would add to the cost of doing business, the railroad's top executive said on Wednesday. "The benefits seem somewhat unconvincing, I really think the...

  • UPDATE 1-CSX Q4 profit falls on lower freight volumes Tuesday, 12 Jan 2016 | 4:32 PM ET

    CHICAGO, Jan 12- No. 3 U.S. railroad CSX Corp on Tuesday reported a lower quarterly net profit, citing a drop in freight volumes, and said the weak global economy and U.S. industrial markets would weigh on results in the coming year. "With negative global and industrial market trends projected for 2016, full-year earnings per share are expected to be down compared to...

  • CSX Q4 profit falls on lower freight volumes Tuesday, 12 Jan 2016 | 4:13 PM ET

    CHICAGO, Jan 12- No. 3 U.S. railroad CSX Corp on Tuesday reported a lower quarterly net profit citing a drop in freight volumes, especially a 32 percent decline in the amount of coal hauled. The Jacksonville, Florida- based railroad reported fourth-quarter net income of $466 million or 48 cents per share, down 5 percent from $491 million or 49 cents per share a year...

  • *China's rail freight volumes fall 10.5 pct in 2015. *Likely to add to concerns over China's economic growth rate. SHANGHAI, Jan 5- China's national rail freight volumes declined by a tenth in 2015, their biggest ever annual decline, business magazine Caixin reported on Tuesday, a figure likely to raise questions about how sharply the economy is really slowing.