fourth quarter 2020

FreightCar America eyes improving opportunities in 2021

A photograph of a rail yard. A city is in the distance.

FreightCar America (NASDAQ: RAIL) is looking forward to the opportunities that 2021 has to offer, now that it has moved all of its manufacturing operations from Alabama to Mexico.

That opportunity includes shifting to a positive balance sheet. The company sustained a net loss of $14.4 million in the fourth quarter of 2020 compared with a net loss of $9.5 million in the fourth quarter of 2019 (see below).

“We believe that we are fundamentally transforming FreightCar America’s ability to compete...

https://s29755.pcdn.co/news/freightcar-america-eyes-improving-opportunities-in-2021

BNSF’s fourth-quarter 2020 net profit up 5%

A composite image. The top image is a bar graph. The bottom image is a BNSF train crossing a bridge.

A 6% decline in operating expenses contributed to a 5% increase in overall fourth-quarter net profit for BNSF (NYSE: BRK).

BNSF is a subsidiary of Berkshire Hathaway, which acquired the western U.S. railroad in February 2010. 

Net income was $1.5 billion in the fourth quarter of 2020, a 5% increase from $1.4 billion in the fourth quarter of 2019.

Total revenue slipped 3% to nearly $5.7 billion in the fourth quarter, while operating expenses fell 6% to $3.5 billion.

(BNSF)

Among BNSF’s business...

https://www.freightwaves.com/news/bnsfs-fourth-quarter-2020-net-profit-up-5

Wabtec sees a future producing battery electric locomotives

A photograph of a train locomotive crossing over a bridge.

Wabtec (NYSE: WAB) could develop more battery electric locomotives in the future as prospective buyers eye ways to improve fuel efficiency, executives of the rail technology provider said during the company’s fourth-quarter earnings call on Thursday.

BNSF (NYSE: BRK) is conducting advanced tests on what Wabtec calls “the world’s first battery electric locomotive,” which the Pittsburgh-headquartered rail technology provider has dubbed FLXdrive. The heavy-haul locomotive could potentially reduce...

https://www.freightwaves.com/news/wabtec-sees-a-future-producing-battery-electric-locomotives

GATX fourth-quarter net income totals nearly $18 million

A photograph of tank cars parked at a rail yard.

Despite higher revenue and lower expenses, fourth-quarter net profit for rail lessor and manufacturer GATX (NYSE: GATX) was down from a year ago on lower affiliate income related to a joint venture with Rolls-Royce. The fourth quarter of 2019 also included income from operations that have since been discontinued.

Fourth-quarter 2020 net income was $17.8 million, or 50 cents per diluted share from consolidated operations, compared with $56.6 million, or $1.59 per diluted share from consolidated...

https://s29755.pcdn.co/news/gatx-fourth-quarter-net-income-totals-nearly-18-million

CP: Land assets and partners provide growth opportunities

A photograph of a Canadian Pacific train at a rail yard.

Canadian Pacific (NYSE: CP) is looking to build upon its existing network and land assets as a way to expand capacity, company executives said during the railway’s fourth-quarter earnings call Wednesday.

“I’m not aware of any CMQ-like opportunities. I would say that we keep a strong financial position or keep our balance sheet strong and pattern our pockets so that we can be opportunistic if one of those comes up,” said CP President and CEO Keith Creel during the call. Creel was referring to CP’s...

https://www.freightwaves.com/news/cp-land-assets-and-partners-provide-growth-opportunities

Norfolk Southern eyes longer, heavier trains as it pursues PSR

A photograph of a Norfolk Southern train traveling through the snow.

Norfolk Southern (NYSE: NSC) has begun to focus more on lengthening trains and increasing train weights as a way to keep costs down and increase network productivity, according to executives on the company’s fourth-quarter earnings call on Wednesday.

“Traffic coming back is our challenge and opportunity,” Norfolk Southern (NS) Chief Operating Officer Cindy Sanborn told investors and analysts on the call. 

NS’ first steps in its deployment of precision scheduled railroading (PSR), an operating...

https://www.freightwaves.com/news/norfolk-southern-eyes-longer-heavier-trains-as-it-pursues-psr

Canadian Pacific Q4 operating ratio hits record low

A photograph of a Canadian Pacific train traveling through a snowy field.

Canadian Pacific (NYSE: CP) reached a record low operating ratio (OR) in the fourth quarter of 2020: 53.9% compared with 57% in the fourth quarter of 2019.

Investors sometimes use OR to gauge the financial health of a company, with a lower OR implying improved financial health. OR is a company’s expenses as a percentage of revenue.

“With a foundation of strong operational performance and a commitment to controlling what we can, the team continues to deliver,” said CP President and CEO Keith Creel...

https://www.freightwaves.com/news/canadian-pacific-q4-operating-ratio-hits-record-low

CN cautious about Q1 but bullish about 2H

A photograph of a CN train traveling through a field.

Although CN (NYSE: CNI) is looking forward to an improved economy in the second half of 2021, uncertainties surrounding the COVID-19 pandemic and the vaccine rollout are making the Canadian railway “cautious” about the first quarter of this year.

“We are optimistic about 2021, especially the economy and the GDP [gross domestic product] in the second half … [but] we are more cautious about Q1, especially as it pertains to lockdowns and preventive quarantines on our operating employees in the...

https://s29755.pcdn.co/news/cn-cautious-about-q1-but-bullish-about-2h

Norfolk Southern’s fourth-quarter net income moves up 1%

A photograph of a Norfolk Southern train crossing a bridge.

Norfolk Southern’s (NYSE: NSC) fourth-quarter net income rose 1% as an 8% decrease in operating expenses helped to offset a 4% decline in operating revenues.

Norfolk Southern’s (NS) net profit was $671 million, or $2.64 per diluted share, for the fourth quarter of 2020, compared with $666 million, or $2.55 per diluted share, for the fourth quarter of 2019.

Operating revenues were $2.57 billion, compared with $2.69 billion year-over-year. A 2% revenue gain in NS’ metals and construction segment...

https://www.freightwaves.com/news/norfolk-southerns-fourth-quarter-net-income-moves-up-1

CN’s fourth-quarter net income grows 14%

A photograph of a CN train.

Canadian railway CN’s (NYSE: CNI) net income for the fourth quarter of 2020 rose 14% year-over-year amid a 2% increase in revenue and a 5% decrease in operating expenses.

Fourth-quarter 2020 adjusted net profit was CA$1.02 billion, or $1.43 adjusted earnings per share, compared with $896 million, or $1.25 adjusted earnings per share, for the fourth quarter of 2019. All figures are in Canadian dollars, and 1 Canadian dollar equals about 79 cents in U.S. dollars.

The 2% increase in revenue to...

https://www.freightwaves.com/news/cns-fourth-quarter-net-income-grows-14

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