Growing headcount and relieving supply chain congestion dominated Class I railroads’ third-quarter 2021 earnings commentaries — and these issues look poised to persist in Q4 and into 2022.
BNSF’s third-quarter net income rose 14%, to $1.5 billion, despite supply chain disruptions.
Underneath the supply chain disruptions and the chip shortage are customers that need Wabtec’s components to improve their rail operations, executives said during the third-quarter earnings call.
Inventory restocking and demand for domestic intermodal service will support Hub Group into next year, executives said.
Although macroeconomic factors and lower train speeds support railcar leasing, the growth trend might be choppy as the COVID-19 pandemic and supply chain disruptions still weigh on the market, Trinity Industries and GATX said during their third-quarter 2021 earnings calls.
Like its Class I peers, Norfolk Southern encountered supply chain disruptions brought on by a lack of workers in dray and warehousing.
Union Pacific could’ve handled more intermodal volume in the third quarter were it not for longer chassis dwell times and a shortage of dray drivers, executives said during the company’s earnings call.
CSX has been aggressively pursuing new employees in order to meet network capacity needs, executives said during the company’s third-quarter earnings call.
The railway is working with customers and steamship lines to find opportunities to divert traffic from Los Angeles and Long Beach, executives said during CP’s third-quarter 2021 earnings call.
In a quarterly earnings call, outgoing CEO JJ Ruest insists CN’s board of directors will conduct an extensive search for his successor. An activist investor is seeking to install its own CEO choice.
