Railfanning.org News Wire – Page 235

CSX and Environmental Defense Fund Work to Improve Energy Efficiency

January 27, 2011 Railfanning.org News Wire

JACKSONVILLE, Fla. — CSX Corp. said its continued participation in Environmental Defense Fund’s (EDF) Climate Corps for 2011. EDF Climate Corps places top MBA students in companies to develop practical, actionable energy efficiency plans that cut costs and greenhouse gas emissions. As a result of its participation in the program last year, CSX and the company’s fellow identified savings of more than $160,000, 1.5 million kWh of electricity (enough to power 140 homes), and 940 metric tons of CO2 (equivalent to removing 150 SUVs from the road) annually. “CSX’s commitment to the environment has enabled the company to drive great results

Hersman: Investigations Highlight Need for New Perspective on Safety Culture

January 26, 2011 Railfanning.org News Wire

WASHINGTON — National Transportation Safety Board Chairman Deborah A. P. Hersman said accident investigations highlight the need for a new perspective on safety culture, record-keeping and aging infrastructure. In a speech to the audience at the Transportation Research Board (TRB) conference, Hersman discussed four investigations across all modes of transportation. She highlighted several accidents that claimed the lives of dozens and encouraged attendees to embrace lessons learned to prevent future accidents. “If you’re going to build a transportation project that’s going to stand for decades, the foundation of future operating decisions may well be based on the original documentation. Make sure your records stand the test of time,” Hersman said. Hersman

CP: Fourth Quarter Revenue Increased 13 Percent

January 26, 2011 Railfanning.org News Wire

CALGARY — Canadian Pacific Railway announced its fourth-quarter and full-year 2010 results, and revenue in the fourth-quarter increased 13 percent with gains across all lines of business. Reported net income in the fourth-quarter was $186 million, an increase of 27 per cent and diluted earnings per share was $1.09 for the quarter and $3.85 for the full year. Adjusted diluted earnings per share was $1.12 for the quarter and $3.87 for the full year. “Fourth quarter saw double digit revenue growth, a continuation of our year-to-date trend,” said Fred Green, President and Chief Executive Officer. “We delivered an improvement in

CSX to Invest $2 Billion to Strengthen Its Rail Network

January 25, 2011 Railfanning.org News Wire

JACKSONVILLE, Fla. — CSX Corp. will invest $2 billion to increase the quality, flexibility and capacity of its rail network, the company announced as part of its quarterly and full-year earnings report. That’s on top of the $1.8 billion the company invested in 2010, a year in which operating income was $3.1 billion. “CSX believes in the ability of the U.S. economy to continue growing and is committed to supporting its customers as that occurs,” saidMichael J. Ward, CSX chairman, president and chief executive officer. “This is an important time for CSX and other companies to take stock in what we need to do

Norfolk Southern Reports 2010 Fourth-Quarter and Full-Year Results

January 25, 2011 Railfanning.org News Wire

Norfolk Southern Corp. reported fourth-quarter 2010 net income of $402 million, or $1.09 per diluted share, 31 percent higher compared with $307 million, or $0.82 per diluted share, for the same quarter of 2009. Fourth-quarter 2010 results benefited from a $34 million, or $0.09 per diluted share, change in estimate affecting deferred income taxes. Net income for 2010 was $1.5 billion, or $4.00 per diluted share, an increase of 45 percent, compared with $1.0 billion, or $2.76 per diluted share, in 2009. “During 2010 we profitably grew the business, invested in the franchise, generated significant levels of cash, and produced attractive returns for our shareholders,” said CEO Wick Moorman. “We

Norfolk Southern Increases Dividend

January 25, 2011 Railfanning.org News Wire

NORFOLK, Va. — Norfolk Southern Corp. said its Board of Directors today voted to increase the regular quarterly dividend on the company’s common stock by 11 percent, or 4 cents per share, from 36 to 40 cents per share. The increased dividend is payable on March 10 to stockholders of record on Feb. 4.

CN Reports Q4 2010 Income

January 25, 2011 Railfanning.org News Wire

MONTREAL — CN reported its financial and operating results for the fourth quarter and year ended Dec. 31, 2010. Fourth-quarter and full-year 2010 highlights — Net income for the final quarter of 2010 was C$503 million, or C$1.08 per diluted share, versus fourth-quarter 2009 net income of C$582 million or C$1.23 per diluted share. — Q4-2010 net income increased by 19 per cent over comparable adjusted 2009 net income of C$424 million, with Q4-2010 diluted earnings per share (EPS) up 20 per cent over adjusted diluted EPS of C$0.90 for the final quarter of 2009. — Operating income for the fourth quarter of 2010 increased

CN Announces New Share Repurchase Program

January 25, 2011 Railfanning.org News Wire

MONTREAL — CN announced that its Board of Directors has authorized a normal-course-issuer bid to purchase, for cancellation, up to 16.5 million, or 3.6 per cent, of the common shares issued and outstanding of the Company on Jan. 17, 2011. Approximately 459.6 million CN common shares were issued and outstanding on that date. The price to be paid by CN for any common shares will be the market price at the time of acquisition, plus brokerage fees, or such other price as the Toronto Stock Exchange (TSX) may permit. CN recently completed a share repurchase program announced in January 2010, under which

Union Pacific Reports Record Fourth Quarter and Full Year

January 25, 2011 Railfanning.org News Wire

OMAHA, Neb. — Union Pacific Corporation reported 2010 fourth quarter net income of $775 million, or $1.56 per diluted share, compared to $549 million, or $1.08 per diluted share, in the fourth quarter 2009. “Our strong fourth quarter results are indicative of the great performance we’ve achieved throughout 2010, setting numerous records as we report the most profitable year in Union Pacific’s nearly 150-year history, ” said Jim Young, Union Pacific chairman and chief executive officer. “As business volumes increased during the year, we kept our customer commitments by ensuring consistent, safe and reliable service. Shareholders also were rewarded as

CSX Announces Record Fourth Quarter and Full-Year 2010 Results

January 24, 2011 Railfanning.org News Wire

CSX Corporation announced fourth quarter earnings of $430 million, or $1.14 per share, versus $303 million, or $0.77per share, in the same period last year. This represents a 48 percent year-over-year improvement in earnings per share and a record fourth quarter for the company. Fourth quarter revenue grew to $2.8 billion, a 21 percent increase from the prior year, on a 13 percent increase in volume. The fourth quarter of 2010 included an extra week resulting from the company’s 52/53 week fiscal reporting calendar. Excluding the extra week, revenue increased 14 percent and volume increased seven percent on a comparable basis. Continued revenue growth, along