An anticipated increase in North American rail traffic, coupled with FreightCar America’s move of its manufacturing to Mexico, should provide support to the company in 2021, executives said.
Lower fuel expenses helped privately held BNSF’s net income grow by 5% in the fourth quarter of 2020.
Prospective North American and international customers are inquiring about Wabtec’s battery electric, heavy-haul locomotive, which is undergoing advanced tests with BNSF. The company reported its fourth-quarter results on Thursday.
Retailers will want to pull forward inventory ahead of the 2021 peak season, the intermodal marketing company said. Fourth-quarter 2020 revenue grew by 6% although net profit slipped by 20% year-over-year.
Revenue gains and lower costs in the fourth quarter weren’t enough to offset losses from GATX’s passenger airline-affiliated joint venture with Rolls-Royce.
With its acquisition of an Atlantic short line railroad in place, Canadian Pacific said the next opportunities to expand its network lie in its land holdings and partnerships.
Norfolk Southern seeks to increase train lengths and weights as part of its next stage of precision scheduled railroading deployment, executives said during the company’s fourth-quarter earnings call on Wednesday.
Canadian Pacific reported a fourth-quarter operating ratio of 53.9%, a record low. Fourth-quarter net profit was CA$802 million, up nearly 21% year-over-year.
CN expressed confidence that it has the network capacity available to handle more volumes in the second half of 2021. But pandemic uncertainties loom in the first quarter.
Fourth-quarter net profit was $671 million. An 8% decrease in operating expenses helped to offset a 4% decline in operating revenues.
CN’s fourth-quarter net income was C$1.02 billion amid a 2% increase in revenue and a 5% decrease in operating expenses.
KCS plans to deploy the third phase of its precision scheduled railroading program this year as it eyes an operating ratio goal in the mid-50s by 2022.
Elevated numbers of CSX employees who contracted COVID-19 or are in quarantine have resulted in operational challenges to the railroad in the fourth quarter and into 2021.
KCS’ fourth-quarter 2020 net profit was $165.7 million, compared with $127.2 million in Q4 of 2019.
CSX’s fourth-quarter net income slipped 1% to $760 million amid a 2% decline in revenue.
Union Pacific has the network capacity to handle an anticipated rebound in rail volumes in 2021, executives said during the company’s fourth-quarter earnings call on Thursday.
Union Pacific’s net profit was $1.4 billion in the fourth quarter of 2020, on par with the fourth quarter of 2019.
