third quarter 2020
- Rail
Q3 rail recap: The good and not so good
What won and what lost in the third quarter for the rails?
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FreightCar America justifies production move to Mexico
Market conditions hastened the railcar manufacturer’s decision to move all of its railcar production to Mexico, according to company executives during the third-quarter earnings call.
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Coal, petroleum and sand drive BNSF’s operating revenues lower
Third-quarter revenue fell 14% year-over-year, parent company Berkshire Hathaway said. However, lower operating costs led BNSF to a sub-60 operating ratio.
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FleetCor tops revenue estimates, misses on earnings
FleetCor’s third-quarter revenue topped most Wall Street expectations for revenue at $580.8 million, while its earnings per share missed expectations by 46 cents.
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Norfolk Southern strives to ramp up efficiency
The railroad will be idling rail yards around Atlanta and will cease humping operations at its Macon, Georgia, yard.
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Coal puts pressure on Norfolk Southern’s third-quarter revenue
The Eastern U.S. railroad reported an adjusted net income of $643 million in the third quarter of 2020, compared with $657 million a year ago.
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Trinity Industries pinpoints focus on rail
The railcar lessor has developed a new strategy that will focus on providing rail-related services and products as part of a broader effort to boost…
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Union Pacific seeks to sweat its assets
UP expects longer and heavier trains in its future as it seeks to take more intermodal market share away from trucks.
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CSX looking to take advantage of tight truck capacity
The company is also eyeing opportunities to develop its real estate offerings and will bring on more assets to handle additional volumes, executives said during…
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Union Pacific sets all-time quarterly record for operating ratio
Lower fuel prices drove Union Pacific’s operating ratio lower. Meanwhile, third-quarter net profit fell 12% year-over-year.
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