(Adds details on share repurchases, service issues) April 25 (Reuters) - Norfolk Southern Corp, one of the largest U.S. railroads by revenue, reported a 27 percent increase in year-over-year quarterly net profit on Wednesday, driven by higher volumes and prices it charges for the freight it carries and a lower effective tax rate. The Norfolk,…
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(Recasts with share growth; adds CEO comments, paragraph 4) April 25 (Reuters) - Shares in Norfolk Southern Corp rose about 5 percent in early trading on Wednesday after the fourth-largest U.S. railroad reported a 27 percent increase in year-over-year quarterly net profit and topped revenue forecasts. The Norfolk, Virginia-based railroad, with a network that spans…
a worry@ (Adds details on acquisition, taxes) NEW YORK, April 25 (Reuters) - Knight-Swift Transportation Holdings Inc posted a higher quarterly net profit on Wednesday, citing higher charges for the freight it carries and strong volumes, but warned it was struggling to hire and retain enough drivers. North America's largest truckload carrier said freight demand…
(Adds background on turnaround plan, analyst and CEO quotes) April 17 (Reuters) - CSX Corp easily topped Wall Street forecasts for first-quarter profit as the No. 3 U.S. railroad operator benefited from a cut-throat efficiency and cost-cutting drive, sending its shares 5 percent higher on Tuesday. CSX has been cutting jobs and the number of…
CSX easily topped Wall Street forecasts for first-quarter profit. The No. 3 U.S. railroad operator benefited from a cut-throat efficiency and cost-cutting drive The results sent its shares 5 percent higher on Tuesday. Jodi Gralnick | CNBC A shipping container is loaded onto a flatbed at the CSX Intermodal Terminal in North Baltimore, Ohio. CSX…
(Adds details on rising costs) April 20 (Reuters) - Kansas City Southern, a regional U.S. railroad with extensive operations in Mexico, reported lower-than expected quarterly revenue on Friday despite a 1 percent overall increase in rail volumes. The Kansas City, Missouri-based company said its revenue gains in consumer goods, automotive and petroleum products were partially…
(Adds analyst comment, reaction from crude oil companies) MONTREAL/VANCOUVER April 20 (Reuters) - Canada's biggest rail union said no progress had been made in negotiations on Friday with Canadian Pacific Railway Ltd to reach a deal before a Saturday deadline as worries about a potential strike weighed on the country's crude oil prices. If the…
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Rail News Home Federal Legislation & Regulation 4/13/2018 Rail News: Federal Legislation & Regulation Trump nominates Homendy to serve on NTSB President Donald Trump this week announced his intention to nominate Jennifer Homendy of Virginia to serve on the National Transportation Safety Board (NTSB).Homendy is being nominated to serve the remainder of a five-year term…
Rail News Home Federal Legislation & Regulation 4/13/2018 Rail News: Federal Legislation & Regulation Denham: USDOT inspector general to audit California high-speed rail project U.S. Rep. Jeff Denham (R-Calif.) chairs the House Subcommittee on Railroads, Pipelines and Hazardous Materials. Photo – Congress.gov The U.S. Department of Transportation's Office of Inspector General has agreed to an…