Domestic News
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CSX Corp. today announced fourth quarter 2022 operating income of $1.46 billion compared to $1.37 billion in fourth quarter 2021. |
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Norfolk Southern sees 2023 as an opportunity to further test its new operational plan amid considerable economic headwinds, according to executives’ comments during the railroad’s fourth-quarter ’22 earnings call. |
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CN reported fourth-quarter 2022 revenue rose 21 percent to CA$4.5 billion, while operating income climbed 22 percent (or 21 percent on an adjusted basis) to CA$1.9 billion compared with the same quarter in 2021, the Class I announced yesterday. |
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U.S. railroad operators have tepid outlooks for 2023 as they brace for a slowdown in demand for manufactured goods among other products and higher costs. |
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In September 2021, the two Class I railroads agreed to merge; two months later, the STB accepted for consideration their merger application. |
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STB on Dec. 19, 2022 adopted two final rules establishing new “rate reasonableness procedures” it said provide “two streamlined approaches for shippers and railroads to resolve smaller rate disputes.” |
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U.S. freight rail traffic in Week 3 (ending Jan. 21, 2023) dipped 2.1 percent from the prior-year period, the Association of American Railroads reported Jan. 25. |
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East Coast ports continue to rack up wins versus West Coast rivals. Port announcements in recent days highlight just how much ground the East Coast has gained during the pandemic era. |
