Canadian Pacific Kansas City Southern
Canadian rail lockout – SONAR datasets to watch
CN and CPKC have locked out employees as of 12:01 a.m. Thursday. The industries to be most heavily impacted are those in bulk commodities. Canada is a major producer of grain, potash and metallurgical coal. In general, those industries have no reasonable method to get their products to market, which largely involves movement to ports for export, without the railways. Other impacted industries that move via rail carload include automotive, forest products, chemicals and petroleum. Grain...
https://www.freightwaves.com/news/canadian-rail-strike-sonar-datasets-to-watch
Regulators nervous about rail freight decline
WASHINGTON — Federal regulators are summoning executives from the major freight railroads to a rare public hearing to explain how their companies plan to invest in and grow their business amid concern over recent negative volume trends.
In a notice published Friday, the Surface Transportation Board, which regulates railroad rates and service, said it also welcomes railroad customers, suppliers and rail labor to testify during the two-day hearing on Sept. 16 and 17 at STB headquarters in...
https://www.freightwaves.com/news/regulators-nervous-about-rail-freight-decline
No surprises in Norfolk Southern earnings as COO Orr makes debut
The elephant in the room on the Norfolk Southern earnings call made only a brief appearance. But it will be returning in about two weeks.
There were no surprises in the first-quarter earnings report, as the Class 1 railroad (NYSE: NSC) had issued a preliminary report earlier in the month. The final numbers, showing a significant drop in earnings related to the East Palestine, Ohio, derailment in February 2023, were in line with those preliminary figures. The East Palestine derailment saw 38 cars...
https://www.freightwaves.com/news/no-surprises-in-norfolk-southern-earnings-as-coo-orr-makes-debut
Preliminary Q1 results at embattled Norfolk Southern miss expectations
Norfolk Southern heads toward its May 9 annual meeting and the resolution of its battle with activist shareholder Ancora over control of the company with a public campaign that may have taken a hit Tuesday, judging from a preview of the railroad’s first-quarter numbers.
In an outlook for Q1 earnings, which are to be released April 24, Norfolk Southern said adjusted earnings would come in at $2.49 a share and adjusted operating ratio would be 69.9%.
Those numbers are both below Wall Street...