Railroad News

Union Pacific Corp. today reported fourth-quarter 2017 adjusted net income rose 5 percent to $1.2 billion, or $1.53 per diluted share, compared with $1.14 billion, or $1.39 per share, for the same period a year ago.

Including the impact of the recently passed federal corporate tax reform, UP posted net income of $7.3 billion, or $9.25 per diluted share for Q4 2017, according to a UP press release.

Union Pacific Corp. today reported fourth-quarter 2017 adjusted net income rose 5 percent to $1.2 billion, or $1.53 per diluted share, compared with $1.14 billion, or $1.39 per share, for the same period a year ago.

Including the impact of the recently passed federal corporate tax reform, UP posted net income of $7.3 billion, or $9.25 per diluted share for Q4 2017, according to a UP press release.

Stadler has acquired Knorr-Bremse subsidiary Swedtrac, which specializes in train modernization. The move is aimed at enabling Stadler to strengthen its presence in the Nordic countries, company officials said in a press release. Swedtrac will join Stadler in the first quarter. In the long term, Stadler aims to transform Swedtrac's site in Tillberga, Sweden, into a major service cente. Financial terms of the acquisition were not disclosed.

Harsco Rail has promoted Allen Branham to vice president of North America sales and global contracting services. He has more than two decades of experience with the company and most recently served as director of U.S. East sales. Branham also has held positions in product management, engineering and project management.

The Long Beach Board of Harbor Commissioners on Monday approved the construction of Pier B on-dock rail support facility at the Port of Long Beach, California.

The facility would provide track space to join together sections of trains assembled at terminals. The ability to build long trains now is limited due to lack of adequate yard tracks and the configuration of mainline tracks, port officials said in a press release.

Norfolk Southern Corp. has appointed John Scheib executive vice president law and administration and chief legal officer as of March 1.

Scheib will succeed William Galanko, who will retire on the same date after 28 years with the railroad, NS officials said in a press release.

New Jersey Gov. Phil Murphy on Monday signed an executive order mandating a full-scale audit of New Jersey Transit.

The audit will review the agency's finances, leadership structure, hiring process and customer service. It also will examine NJ Transit's relationship with Amtrak and its implementation of positive train control.

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The Association of American Railroads (AAR) today reported U.S. rail traffic for the week ending January 20, 2018.

Canadian National plans a CA$3.2 billion (US$2.5 billion) capital program in 2018; a record for the railroad, as well as an increase of more than 23 percent over its 2017 program.

CN says the program will focus on key capacity projects to meet growing freight demand and continue investment in infrastructure maintenance to enhance safety and efficiency.

Canadian National plans a CA$3.2 billion (US$2.59 billion) capital program in 2018; a record for the railroad, as well as an increase of approximately 23 percent over its 2017 program.

The Long Beach Board of Harbor Commissioners approved the Pier B On-Dock Rail Support Facility, progressing a plan to allow for more efficient cargo movement.

"This project is vital to our ability to stay competitive and will minimize truck trips generated by anticipated cargo growth," said Harbor Commission President Lou Anne Bynum. "Moving more cargo by rail to and from the Port reduces air pollution and makes operations more efficient."

The Long Beach Board of Harbor Commissioners approved the Pier B On-Dock Rail Support Facility, progressing a plan to allow for more efficient cargo movement.

"This project is vital to our ability to stay competitive and will minimize truck trips generated by anticipated cargo growth," said Harbor Commission President Lou Anne Bynum. "Moving more cargo by rail to and from the Port reduces air pollution and makes operations more efficient."

A plan to move a rail line from out of downtown Lac-Mégantic, Quebec, received financial backing from the federal government of Canada, but no solid dollar amount.

Transport Canada Minister of Transport Marc Garneau said in a statement that the federal government would contribute a "substantial sum" toward the Lac-Mégantic rail bypass project.

A plan to move a rail line from out of downtown Lac-Mégantic, Quebec, received financial backing from the federal government of Canada, but no solid dollar amount.

Transport Canada Minister of Transport Marc Garneau said in a statement that the federal government would contribute a "substantial sum" toward the Lac-Mégantic rail bypass project.

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.