Railpace Hot News
Keep up to date on the latest railroad news from the northeastern United States and Canada, edited by Carl Perelman.
January 31, 2022
Montreal’s EXO Orders Charger Locomotives
Montreal’s Exo announces the award of a contract worth approximately C$132 million to Siemens Mobility for the acquisition of 10 Charger locomotives that will gradually replace the F59PH locomotives currently in use on exo’s network.
January 31, 2022
CSX To Serve Alabama Port Authority Inland Port
The Alabama Port Authority board of directors approved a $2.042 million purchase of 272 acres in Montgomery, Ala., to construct an inland container intermodal transfer (ICTF) facility. The project will extend intermodal rail service from the Port Authority’s container intermodal terminal at the Port of Mobile in support of Alabama regional growth in manufacturing, retail, distribution, and agribusiness sectors.
January 31, 2022
Union Pacific Railroad to Assemble World’s Largest Carrier-Owned Battery-Electric Locomotive Fleet
Union Pacific Railroad announced plans to purchase 20 battery-electric locomotives for testing in yard operations. The combined purchases and upgrades to yard infrastructure are expected to exceed $100 million, representing the largest investment in battery-electric technology by a U.S. Class I railroad.
January 28, 2022
CP Delivers Solid Fourth-Quarter Results
Canadian Pacific Railway Limited today announced its fourth-quarter results, including revenues of $2.04 billion, operating ratio (“OR”) of 59.2 percent, adjusted OR1 of 57.5 percent, diluted earnings per share (“EPS”) of $0.74 and adjusted diluted EPS1 of $0.95.
January 27, 2022
Rail Traffic for the Week Ending January 22, 2022
The Association of American Railroads (AAR) reported U.S. rail traffic for the week ending January 22, 2022. For this week, total U.S. weekly rail traffic was 477,462 carloads and intermodal units, down 9.8 percent compared with the same week last year.
January 26, 2022
Norfolk Southern Reports Fourth-Quarter and Full-Year 2021 Results
Norfolk Southern Corporation reported fourth-quarter and full-year 2021 financial results which included fourth-quarter and full-year records for income from railway operations and operating ratio. Fourth-quarter net income was $760 million, diluted earnings per share were $3.12, and the operating ratio improved to 60.4%. Full-year net income was $3.0 billion, diluted earnings per share were $12.11 and the operating ratio improved to 60.1%.
January 26, 2022
CN Delivers Outstanding Fourth Quarter Results
CN reported its financial and operating results for the fourth quarter and year ended December 31, 2021. CN delivered solid operating and financial performance across the board, with adjusted diluted earnings per share (EPS) growing 20 per cent in the fourth quarter to C$1.71, and adjusted operating ratio improving to a fourth quarter record of 57.9 per cent.
January 26, 2022
Metro-North Stays On Track With High Level of On-Time Performance
Metro-North Railroad announced that 2021 was another excellent year for on-time performance, with 97.1% of Metro-North trains operating on time. The 2021 on-time performance marks only the second time on-time performance has been above 97% for two consecutive years since Metro-North was founded in 1983. This feat was accomplished as Metro-North gradually restored service to pre-pandemic levels and undertook extensive repairs in response to Hurricane Ida in September.
January 25, 2022
CSX Appoints Sean R. Pelkey Executive Vice President and Chief Financial Officer
CSX Corp. announced the appointment of Sean R. Pelkey as executive vice president and chief financial officer effective immediately.
January 24, 2022
MTA Announces Restoration of W Subway Line for Monday, Jan. 24
The Metropolitan Transportation Authority (MTA) today announced the restoration of full W line weekday service starting Monday, Jan. 24. In order to keep subway service at all 472 subway stations during the COVID-19 Omicron variant surge in New York City, the MTA had adjusted service by suspending the W line trains.
