first quarter 2021

Union Pacific’s net profit slips 9% in first quarter

A photograph of a Union Pacific train.

First-quarter net income for Union Pacific (NYSE: UNP) fell 9% compared with a year ago amid a 4% decline in operating revenue.

Net profit was $1.3 billion, or $2 per diluted share, compared with $1.5 billion, or $2.15 per diluted share, in the first quarter of 2020.

Operating revenue was $5 billion, a 4% drop year-over-year amid a 1% drop in overall volumes. Bulk volumes slipped 1%, while industrial volumes fell 13% and premium volumes rose 2%.

Bulk volumes include grain and grain products,...

https://www.freightwaves.com/news/union-pacifics-net-profit-slips-9-in-first-quarter

CSX ready to handle volume growth, leaders say

A photograph of a CSX train hauling intermodal containers.

CSX (NASDAQ: CSX) says it’s ready to handle not only an anticipated increase in carload volumes in the second half of the year but also meet the demand to move e-commerce goods, according to executives on the railroad’s first-quarter 2021 earnings call late Tuesday afternoon.

CSX noted that its intermodal business has seen record volumes due in part to its efforts to reengineer its intermodal network so that the company can be a bigger participant in the e-commerce business model, according to...

https://www.freightwaves.com/news/csx-ready-to-handle-volume-growth-leaders-say

CSX’s Q1 net profit falls 8% on higher expenses, revenue drop

A photograph of a CSX train traveling next to a forest.

CSX’s (NASDAQ: CSX) net profit for the first quarter of 2021 slipped 8% from a year ago on a 2% increase in expenses and a 1% drop in revenue.

Net income for the first quarter of 2021 was $706 million, or 93 cents per share, compared with $770 million, or $1 per share, for the first quarter of 2020.

First-quarter revenue fell 1% year-over-year to $2.81 billion, with declines in merchandise, coal and fuel surcharge revenues offsetting gains for intermodal and other revenue growth, CSX said. 

Meanw...

https://s29755.pcdn.co/news/csxs-q1-net-profit-falls-8-on-higher-expenses-revenue-drop

Kansas City Southern bullish on late-2021 volumes

A photograph of a Kansas City Southern train.

Although Kansas City Southern (NYSE: KSU) executives were tight-lipped about how operations might look should it succeed in merging with Canadian Pacific (NYSE: CP), the railroad was upbeat Friday about its volume expectations for 2021.

Kansas City Southern (KCS) and CP announced plans last month to merge and are in the preliminary stages of a multimonth regulatory review before the Surface Transportation Board (STB).

KCS also reported Friday that its first-quarter net income was $153.4 million,...

https://s29755.pcdn.co/news/kansas-city-southern-bullish-on-late-2021-volumes

Strong Q1 Dry Bulk Freight Market A Surprise

  • Although uncertainties still loom large due to the global pandemic, many countries are recovering economically and actively rebuilding commodity stockpiles.
  • Expectations are that shipments will increase further in Q2, while freight rates will remain steady.
  • Pent-up demand for commodities from grains to coal powered a surprisingly strong recovery in the dry bulk shipping market in the first quarter.

A Platts news written by Carina Li and  Isaac Eio reveals that dry bulk freight market’s...

https://mfame.guru/strong-q1-dry-bulk-freight-market-a-surprise/

+ More