Rail News Home Union Pacific Railroad 1/31/2022 Rail News: Union Pacific Railroad
UP's purchase includes 10 FLXdrive battery-electric locomotives from Wabtec. Photo – up.com
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Jan
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Union Pacific Railroad last week announced plans to assemble the world’s largest battery electric freight locomotive fleet.
UP will purchase 20 battery-electric locomotives from Progress Rail and Wabtec Corp. for testing in yard operations. The combined purchases and upgrades to yard infrastructure are expected to exceed $100 million, representing the largest investment in battery-electric technology by a U.S. railroad, UP officials said in a press release.
Jan
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Rail News Home Norfolk Southern Railway 1/28/2022 Rail News: Norfolk Southern Railway
The cranes can be used to work over one or two tracks along with two truck lanes at the Chicago and Atlanta rail yards. Photo – nscorp.com
The cranes can be used to work over one or two tracks along with two truck lanes at the Chicago and Atlanta rail yards. Photo – nscorp.com
Norfolk Southern Railway has installed five new diesel-electric hybrid overhead gantry cranes at its Chicago Landers and Atlanta Inman intermodal terminals.
The 60-foot cranes are fuel efficient and further the Class I’s sustainability goals by reducing air emissions, NS officials said in a press release issued yesterday. The new cranes are in addition to the railroad's first five hybrid Konecranes introduced to Chicago operations in 2021 at the 47th Street intermodal facility.
Jan
28
Rail News Home Canadian Pacific 1/28/2022 Rail News: Canadian Pacific
Canadian Pacific yesterday reported fourth-quarter 2021 revenue rose 1% to CA$2.04 billion and net income fell 34% to CA$532 million compared with the same quarter in 2020.CP’s diluted earnings per share (EPS) decreased to 74 cents from $1.19 in Q4 2020, while the adjusted diluted EPS decreased to 95 cents from $1.01 in Q4 2020.The Class I’s Q4 2021 operating ratio (OR), which increased 530 basis points to 59.2%, includes $36 million in costs related to the Kansas City Southern acquisition. The adjusted OR, which excludes the acquisition-related costs, increased 360 basis points to 57.5%.During the quarter, CP "reached a crucial milestone in our journey to create the first single-line rail network linking the U.S., Mexico and Canada by combining with Kansas City Southern, which closed into voting trust Dec. 14," said CP President and CEO Keith Creel in a press release.CP reported that KCS posted Q4 revenue of $748 million, up from $693 million a year earlier, and an adjusted OR of 60.1% for the quarter."I am excited for what lies ahead with this franchise as we move past the uncertainty and extensive supply chain disruptions created by the COVID-19 pandemic," Creel said."The demand environment and overall economic strength, combined with CP's unique initiatives and service excellence, have us well-positioned to drive profitable growth for our customers, employees and shareholders," Creel continued. "These factors, coupled with the progression of our proposed combination with Kansas City Southern, position CP for another history-making year."
Canadian Pacific yesterday reported fourth-quarter 2021 revenue rose 1% to CA$2.04 billion and net income fell 34% to CA$532 million compared with the same quarter in 2020.CP’s diluted earnings per share (EPS) decreased to 74 cents from $1.19 in Q4 2020, while the adjusted diluted EPS decreased to 95 cents from $1.01 in Q4 2020.The Class I’s Q4 2021 operating ratio (OR), which increased 530 basis points to 59.2%, includes $36 million in costs related to the Kansas City Southern acquisition. The adjusted OR, which excludes the acquisition-related costs, increased 360 basis points to 57.5%.During the quarter, CP "reached a crucial milestone in our journey to create the first single-line rail network linking the U.S., Mexico and Canada by combining with Kansas City Southern, which closed into voting trust Dec. 14," said CP President and CEO Keith Creel in a press release.CP reported that KCS posted Q4 revenue of $748 million, up from $693 million a year earlier, and an adjusted OR of 60.1% for the quarter."I am excited for what lies ahead with this franchise as we move past the uncertainty and extensive supply chain disruptions created by the COVID-19 pandemic," Creel said."The demand environment and overall economic strength, combined with CP's unique initiatives and service excellence, have us well-positioned to drive profitable growth for our customers, employees and shareholders," Creel continued. "These factors, coupled with the progression of our proposed combination with Kansas City Southern, position CP for another history-making year."