Railroad

Coronavirus pandemic and economic uncertainty weigh on UP’s second-quarter earnings.

Volumes have been recovering swiftly, but headwinds make it difficult to predict when pre-coronavirus levels will fully return.

The COVID-19 pandemic and a slumping economy dent CSX’s earnings.

Despite a 12% drawdown in volumes, CP reached a record second-quarter operating ratio of 57%.

The COVID-19 pandemic dampened second-quarter revenue by 9%.

The expectation that North American consumers will help drive intermodal traffic comes as the railway’s second-quarter volumes were hit by the coronavirus pandemic.

Jason Miller, associate professor at the Michigan State University Eli Broad College of Business, paints a bearish picture.

Unadjusted net income for the second quarter falls nearly 60% from the same period in 2019.

These factors are dampening lease rates and renewal activity, the company said during its second-quarter earnings call on Tuesday.

The coronavirus’ whipsaw effect on the global supply chain took a toll on Kuehne + Nagel during the first half of 2020, but without a rapid internal response the hit would have been far worse, CEO Detlef Trefzger says.

The reduction in employee levels comes as the railroads deploy cost-cutting measures to match network capacity needs with market demand.

The railroad plans to keep operational changes such as reduced train starts and longer trains even as volumes rebound.

The truckload carriers have reported solid results to start second quarter earnings season, but some load data is still lagging.

The railroad experienced a 23% dip in revenue as carload volumes fell 21%.

The U.S. Border Patrol aided the individual when the train arrived in San Diego, Texas.

Federal agencies in a “friend of the court” filing say discussions among Class I railroads can be admissible as evidence in dozens of lawsuits involving alleged price fixing.

The U.S. Federal Maritime Commission enters “phase two” of its fact-finding investigation into COVID-19 impacts on container shipping in the Port of New York and New Jersey.

U.S. rail traffic is still facing double-digit percentage declines amid trade uncertainties and the coronavirus pandemic.

FreightWaves is hosting the 3PL Summit on July 21, a virtual event that will include technology demonstrations, hot debates and visionary speakers from across the 3PL spectrum.

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.  That search for modal share growth is still fundamentally the real strategic challenge for the seven Class 1 North American railroads.  Profitability remains excellent.  Net cash flow? Down a bit during the second quarter […]