The COVID-19 pandemic dented BNSF’s profits and lowered rail volumes in the second quarter.
The railroad aims to take market share away from trucks through expanded offerings in the Southwestern and Southeastern U.S.
Second-quarter rail volumes fall by 26%.
Trinity took a $369 million impairment charge because leasing small cube covered hoppers exposed the railcar lessor to the frac sand market.
The western U.S. railroad looks to take more market share away from trucks.
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.
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 railroad plans to keep operational changes such as reduced train starts and longer trains even as volumes rebound.
The railroad experienced a 23% dip in revenue as carload volumes fell 21%.
