Jump to content


Photo

Class 1 2018 1sr Quarter Earnings; 2nd Quarter Dividends


  • Please log in to reply
8 replies to this topic

#1 CNJRoss

CNJRoss

    Administrator

  • Admin
  • PipPip
  • 43390 posts
  • Gender:Male
  • Location:Fairfax, VA

Posted 18 April 2018 - 03:51 PM

CSX news release:

 
CSX Announces Record First Quarter 2018 Financial Results

 

 

JACKSONVILLE, Fla., April 17, 2018  -- CSX Corporation (NASDAQ:CSX) today announced record first quarter 2018 net earnings of $695 million, or $0.78 per share, versus $362 million, or $0.39 per share in the same period last year. CSX’s operating ratio for the quarter improved 950 basis points to 63.7 percent from 73.2 percent in the prior year. Compared to 2017 first quarter adjusted operating results, which excluded restructuring charges, this represents an operating ratio improvement of 570 basis points and a 53 percent increase in earnings per share year over year.    

 

“CSX employees did a great job of running the railroad and executing the scheduled railroading model during challenging weather conditions,” said James M. Foote, president and chief executive officer. “We’re more confident in our ability to deliver safe, reliable, best-in-class service for our customers and enhanced value for our shareholders.”

 

Revenue for the first quarter remained relatively flat at $2.88 billion, while expenses declined 13 percent year over year or 8 percent when excluding prior year restructuring charges. Operating income for the quarter increased 36 percent to $1.04 billion when compared to $769 million in the same period last year or 19 percent when compared to the adjusted operating income of $879 million reported in the first quarter of 2017.

 

“Since implementation of scheduled railroading began in March 2017, CSX has taken significant strides to transform the organization and to make CSX more competitive,” said Foote. “Our company’s operating model provides substantial opportunities to leverage our service product offering, capture growth and deliver superior financial returns.”

 

CSX executives will conduct a conference call with the investment community this afternoon, April 17, at 4:30 p.m. Eastern Time. Investors, media and the public may listen to the conference call by dialing 1-888-EARN-CSX (888-327-6279) and asking for the CSX earnings call. Callers outside the U.S., dial 1-773-756-0199. Participants should dial in 10 minutes prior to the call. In conjunction with the call, a live webcast will be accessible and presentation materials will be posted on the company's website at http://investors.csx.com. Following the earnings call, an internet replay of the presentation will be archived on the company website.

 

This earnings announcement, as well as additional detailed financial information, is contained in the CSX Quarterly Financial Report available through the company’s website at http://investors.csx.com and on Form 8-K with the Securities and Exchange Commission.

 

 



#2 CNJRoss

CNJRoss

    Administrator

  • Admin
  • PipPip
  • 43390 posts
  • Gender:Male
  • Location:Fairfax, VA

Posted 25 April 2018 - 11:03 AM

CP news release:

 
CP reports first quarter revenue of $1.66 billion; positive momentum heading into second quarter
 
April 18, 2018 Calgary, AB

 

Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) today announced first-quarter reported diluted earnings per share (EPS) of $2.41, or $2.70 on an adjusted diluted EPS basis.

 

"This was a challenging quarter, as we battled extreme weather and unprecedented demand, specifically in the northern reaches of our network," said Keith Creel, CP's President and Chief Executive Officer. "Despite these challenges, we delivered 6 percent more freight than last year, demonstrating once again the resiliency of our operating model and the commitment from our family of professional railroaders. With the extraordinary winter weather behind us, we built a tremendous amount of momentum through March - one of our best months in recent history - positioning us well for the rest of the year."

  FIRST-QUARTER HIGHLIGHTS
  • Volumes as measured by revenue ton-miles increased 6 percent and carloads increased 4 percent
  • Revenue increased by 4 percent to $1.66 billion from $1.60 billion
  • Reported diluted EPS $2.41, an 18 percent decrease from $2.93, and adjusted diluted EPS was $2.70, an 8 percent increase from $2.50 last year
  • Operating ratio was 67.5 percent, an increase of 510 basis points and 190 basis points compared to last year's operating ratio and adjusted operating ratio, respectively. Effective January 1, 2018, CP adopted a new accounting standard for the presentation of pension retirement benefits which resulted in a 430 basis point increase in CP's 2017 operating ratio. (1)

 

"We continue to produce results using the foundations of precision railroading and remain confident in our ability to deliver sustainable, profitable growth in 2018 and beyond," Creel said. "We look forward to showcasing our proven operating model, strong leadership team, and commitment to disciplined growth at our Investor Day on June 5 and 6 in Calgary."

 

CP will discuss its results with the financial community in a conference call beginning at 4:30 p.m. eastern time on April 18, 2018.

(1) 2017 comparative period was restated from 58.1% to 62.4% and adjusted operating ratio was restated from 61.3% to 65.6% to reflect the adoption of the new accounting standard for the presentation of net periodic benefit recoveries, which is discussed further in Note 2 Accounting changes in CP's Interim Consolidated Financial Statements for the three months ended March 31, 2018.

  Conference Call Access

Toronto participants dial in number: 1-647-427-7450

Operator assisted toll free dial in number: 1-888-231-8191
Callers should dial in 10 minutes prior to the call.
  Webcast

We encourage you to access the webcast and presentation material in the Investors section of CP's website at investor.cpr.ca.

A replay of the first-quarter conference call will be available by phone through to May 16, 2018 at 416-849-0833 or toll free 1-855-859-2056, password 1973958.

  Non-GAAP Measures

For information regarding non-GAAP measures, including reconciliations to the nearest GAAP measures, see the attached supplementary schedule Non-GAAP Measures.

 



#3 CNJRoss

CNJRoss

    Administrator

  • Admin
  • PipPip
  • 43390 posts
  • Gender:Male
  • Location:Fairfax, VA

Posted 25 April 2018 - 11:08 AM

KCS news release:

Kansas City Southern Reports Record First Quarter Results

 

First Quarter 2018 Results

 

  • Record first quarter revenues of $639 million, an increase of 5% from prior year on 1% volume growth
  • Record first quarter operating income of $219 million, 4% higher than a year ago
  • Operating ratio of 65.8%, compared with 65.4% in first quarter 2017
  • Record first quarter diluted earnings per share of $1.40, an increase of 1% over first quarter 2017; record first quarter adjusted diluted earnings per share of $1.30, an increase of 11% over first quarter 2017 

 

 

Kansas City, Mo., April 20, 2018. Kansas City Southern (KCS) (NYSE:KSU) reported record first quarter 2018 revenues of $639 million, an increase of 5% from first quarter 2017. Overall, carload volumes increased 1% compared to the prior year.

 

First quarter 2018 revenues increased in four commodity groups, led by a 17% increase in Automotive, a 10% increase in Chemicals and Petroleum and a 9% increase in Intermodal. Revenue from Industrial and Consumer was also positive with an increase of 4% compared to the first quarter of 2017. These increases were partially offset by declines in Energy and Agriculture and Minerals of 11% and 2%, respectively, compared to the first quarter of 2017.

 

Operating expenses in the first quarter were $420 million, 5% higher than 2017. Operating income was a first quarter record at $219 million, an increase of 4% from the first quarter 2017. KCS reported a first quarter operating ratio of 65.8%, a 0.4 point deterioration over first quarter 2017. 

 

Reported net income in the first quarter of 2018 was $145 million, or $1.40 per diluted share, compared with $147 million, or $1.38 per diluted share, in the first quarter of 2017. Excluding the impacts of foreign exchange, adjusted diluted earnings per share was a first quarter record of $1.30, compared to $1.17 in first quarter 2017. 

 

“Despite congestion across the North American rail network, KCS grew volumes in all commodity groups except Energy and Agriculture and Minerals during the first quarter 2018,” stated Kansas City Southern’s President and Chief Executive Officer Patrick J. Ottensmeyer. “Furthermore, we maintain our outlook for mid-single digit volume growth for full year 2018.”

 

GAAP Reconciliations 

 

Continue here.

 



#4 CNJRoss

CNJRoss

    Administrator

  • Admin
  • PipPip
  • 43390 posts
  • Gender:Male
  • Location:Fairfax, VA

Posted 25 April 2018 - 11:12 AM

NS news release:
 

Norfolk Southern declares quarterly dividend

 

NORFOLK, Va., April 24, 2018 – Norfolk Southern Corporation (NYSE: NSC) today announced the regular quarterly dividend of 72 cents per share on its common stock, payable on June 11 to shareholders of record on May 4.

 

Since its inception in 1982, Norfolk Southern has paid dividends on its common stock for 143 consecutive quarters.

 



#5 CNJRoss

CNJRoss

    Administrator

  • Admin
  • PipPip
  • 43390 posts
  • Gender:Male
  • Location:Fairfax, VA

Posted 25 April 2018 - 11:13 AM

NS news release:

Norfolk Southern reports first-quarter 2018 results

 

Achieves record first-quarter operating income, operating ratio, net income and earnings per share

 

 

NORFOLK, Va., April 25, 2018 – Norfolk Southern Corporation (NYSE: NSC) today reported first-quarter financial results.

 

First-quarter net income was $552 million, up 27 percent year-over-year, a result of a 10 percent increase in income from railway operations and a lower effective income tax rate. Diluted earnings per share were $1.93, up 30 percent year-over-year and a first-quarter record.

 

“We are pleased with the continued improvement in our financial performance and the growth in our business,” said James A. Squires, Norfolk Southern chairman, president and CEO. “We are focused on improving service for our customers to position us for future growth and efficiency that will benefit both our customers and shareholders. The outlook for 2018 is promising, and we are increasing our expected annual share repurchases to $1.5 billion, confident that we will deliver strong financial performance.”  

 

First-quarter summary

 

  • Railway operating revenues of $2.7 billion increased 6 percent compared with first-quarter 2017, as overall volumes were up 3 percent, reflecting 8 percent growth in our intermodal category that offset declines in merchandise and coal volumes.  

 

  • Railway operating expenses increased $64 million, or 4 percent, to $1.9 billion compared with the same period last year, as higher fuel prices and increased costs associated with overall lower network velocity were offset, in part, by efficiency gains.   

 

  • Income from railway operations was $835 million, an increase of 10 percent year-over-year, a first-quarter record. The railway operating ratio, or operating expenses as a percentage of revenues, was 69.3 percent, also a first-quarter record.

 

 

NS First Quarter Financial Data



#6 CNJRoss

CNJRoss

    Administrator

  • Admin
  • PipPip
  • 43390 posts
  • Gender:Male
  • Location:Fairfax, VA

Posted 25 April 2018 - 11:23 AM

CN news release:

 

CN reports Q1-2018 financial results

 

Operating and service metrics improving; investments in additional capacity, locomotives and people positioning CN for long-term growth

 

 

TORONTO, April 23, 2018 — CN (TSX: CNR) (NYSE: CNI) today reported its financial and operating results for the first quarter ended March 31, 2018.

 

Financial results highlights

First-quarter 2018 compared to first-quarter 2017

  • Net income decreased by 16 per cent to C$741 million, and diluted earnings per share (EPS) decreased by 14 per cent (or 13 per cent on an adjusted basis (1)) to C$1.00.
  • Operating income decreased by 16 per cent to C$1,030 million.
  • Revenues for the first quarter totaled C$3,194 million, a decrease of C$12 million.
  • Revenue ton-miles (RTMs) declined by four per cent and carloadings increased by three per cent.
  • Operating expenses increased by nine per cent to C$2,164 million.
  • Operating ratio of 67.8 per cent, an increase of 6.0 points.
  • Free cash flow (1) for the first quarter of 2018 was C$322 million, compared with C$848 million for the year-earlier period. 

 

JJ Ruest, interim president and chief executive officer of CN, said: “With our entire team focused on restoring operational and service excellence for all our customers, CN has turned the corner on a difficult quarter and winter. Our metrics are showing sustained, sequential improvement, and that momentum will build as we continue to expand track capacity, add crews and bring on new locomotives. 

 

“We’ve increased our capital program to C$3.4 billion, with approximately C$400 million being invested in new track infrastructure, particularly in Western Canada, to build capacity and improve resiliency,” Ruest continued. “With the people, equipment and infrastructure in place, and with a solid pipeline of growth opportunities ahead of us, we are confident in our ability to bring long-term value creation to our customers and shareholders.” 

 

  Revised 2018 financial outlook (2)

Due to weaker than expected RTMs in the first quarter and a longer than anticipated construction period needed for significant infrastructure capacity projects in 2018, CN now aims to deliver 2018 adjusted diluted EPS in the range of C$5.10 to C$5.25 versus last year’s adjusted diluted EPS of C$4.99 (compared to its initial financial outlook, which called for adjusted diluted EPS in the range of C$5.25 to C$5.40 this year). (1)

 

Foreign currency impact on results

Although CN reports its earnings in Canadian dollars, a large portion of its revenues and expenses is denominated in U.S. dollars. The fluctuation of the Canadian dollar relative to the U.S. dollar affects the conversion of the Company’s U.S.-dollar-denominated revenues and expenses. On a constant currency basis, (1) CN’s net income for the first quarter of 2018 would have been higher by C$24 million, or C$0.03 per diluted share.

 

  First-quarter 2018 revenues, traffic volumes and expenses 

Revenues for the first quarter of 2018 were C$3,194 million, a decrease of C$12 million, when compared to the same period in 2017. Revenues declined for grain and fertilizers (11 per cent), forest products (six per cent), automotive (four per cent), petroleum and chemicals (three per cent), and other revenues (two per cent). Revenues increased for intermodal (10 per cent), coal (10 per cent), and metals and minerals (seven per cent).

 

The decrease in revenues was mainly attributable to reduced RTMs resulting from challenging operating conditions, including harsh winter weather and low network resiliency, as well as the negative translation impact of a stronger Canadian dollar, partly offset by higher applicable fuel surcharge rates and freight rate increases. 

 

RTMs, measuring the relative weight and distance of rail freight transported by CN, declined by four per cent from the year-earlier quarter. Rail freight revenue per RTM increased by four per cent over the year-earlier period, mainly driven by favourable changes in traffic mix, a decrease in the average length of haul, higher applicable fuel surcharge rates and freight rate increases, partly offset by the negative translation impact of a stronger Canadian dollar.

 

Carloadings for the quarter increased by three per cent to 1,408 thousand.

 

Operating expenses for the first quarter increased by nine per cent to C$2,164 million, mainly driven by higher costs due to challenging operating conditions, including harsh winter weather and low network resiliency, higher training costs for new employees, and higher fuel prices, partly offset by the positive translation impact of a stronger Canadian dollar.

 

(1) Non-GAAP Measures

CN reports its financial results in accordance with United States generally accepted accounting principles (GAAP). CN also uses non-GAAP measures in this news release that do not have any standardized meaning prescribed by GAAP, including adjusted performance measures, constant currency, and free cash flow. These non-GAAP measures may not be comparable to similar measures presented by other companies. For further details of these non-GAAP measures, including a reconciliation to the most directly comparable GAAP financial measures, refer to the attached supplementary schedule, NonGAAP Measures.

 

CN's full-year adjusted EPS outlook (2) excludes the expected impact of certain income and expense items. However, management cannot individually quantify on a forward-looking basis the impact of these items on its EPS because these items, which could be significant, are difficult to predict and may be highly variable. As a result, CN does not provide a corresponding GAAP measure for, or reconciliation to, its adjusted EPS outlook. 

 

Continue here - CN Earning Release

 

CN Quarterly Financial Presentation



#7 CNJRoss

CNJRoss

    Administrator

  • Admin
  • PipPip
  • 43390 posts
  • Gender:Male
  • Location:Fairfax, VA

Posted 26 April 2018 - 07:33 AM

email-header.gif?version=2015-05-13

 

 

Union Pacific Reports Record First Quarter Results

 

Omaha, Neb., April 26, 2018

 

Union Pacific Corporation (NYSE: UNP) today reported 2018 first quarter net income of $1.3 billion, or a first-quarter record $1.68 per diluted share. This compares to about $1.1 billion, or $1.32 per diluted share, in the first quarter 2017.

First Quarter Results

  • Diluted earnings per share of $1.68 increased 27 percent.
  • Operating income totaled $1.9 billion, up 8 percent.
  • Operating ratio of 64.6 percent, improved 0.6 points (see footnote).

"Our solid first quarter results were a direct reflection of the tremendous effort put forth by our entire workforce, and had it not been for some network congestion it would have been even better," said Lance Fritz, Union Pacific chairman, president and chief executive officer. "I am encouraged by the work we are doing to quickly regain superior levels of service and efficiency."

 

First Quarter Summary

Operating revenue of $5.5 billion was up 7 percent in the first quarter 2018 compared to the first quarter 2017. First quarter business volumes, as measured by total revenue carloads, increased 2 percent compared to 2017. Volume increases in energy, industrial and premium more than offset a decline in agricultural products. In addition:

  • Quarterly freight revenue improved 7 percent compared to the first quarter 2017, as volume growth, increased fuel surcharge revenue, core pricing gains and positive mix all contributed to the increase.
  • Union Pacific's 64.6 percent operating ratio improved 0.6 points (see footnote) compared to the first quarter 2017. Higher fuel prices negatively impacted the operating ratio by about 0.2 points.
  • The $2.13 per gallon average quarterly diesel fuel price in the first quarter 2018 was 22 percent higher than the first quarter 2017.
  • Quarterly train speed, as reported to the Association of American Railroads, was 24.8 mph, 4 percent slower than the first quarter 2017.
  • Union Pacific's reportable personal injury rate of 0.74 per 200,000 employee-hours was a first quarter record, improving 17 percent compared to the first quarter 2017.
  • The Company repurchased 9.3 million shares in the first quarter 2018 at an aggregate cost of $1.2 billion.
  • Union Pacific redeemed $155 million of outstanding debentures and mortgage bonds, resulting in an approximate 8 cent reduction to diluted earnings per share.

Summary of First Quarter Freight Revenues

  • Agricultural Products flat
  • Industrial up 6 percent
  • Premium up 7 percent
  • Energy up 15 percent

2018 Outlook

"We are pleased with the improvement we have seen in recent weeks and are confident in the plan we have in place to continue building on the progress already made," Fritz said. "With the economy favoring a number of our market segments, we are well positioned to benefit from another year of positive volume growth and solid core pricing gains."

 

Footnote: Certain prior period amounts have been adjusted for the retrospective adoption of Accounting Standard Update 2017-07 related to the presentation of the components of net periodic pension and other postretirement benefit costs.

 

First Quarter 2018 Earnings Conference Call

Union Pacific will host its first quarter 2018 earnings release presentation live over the Internet and via teleconference on Thursday, April 26, 2018 at 8:45 a.m. Eastern Time. The presentation will be webcast live over the internet on Union Pacific's website at www.up.com/investor. Alternatively, the webcast can be accessed directly through the following link. Participants may join the conference call by dialing 877/407-8293 (or for international participants, 201/689-8349).

 

 

View this release online along with any supplemental materials at http://www.up.com/media/releases/180426-1st-qtr-earnings.htm

 



#8 CNJRoss

CNJRoss

    Administrator

  • Admin
  • PipPip
  • 43390 posts
  • Gender:Male
  • Location:Fairfax, VA

Posted 08 May 2018 - 10:41 AM

Progressive Railroading, 5/8/18:
 

BNSF posts 37 percent gain in Q1 net income

 

 

BNSF Railway Co. reported first-quarter 2018 total revenue rose 8 percent to $5.6 billion from $5.2 billion a year ago as a result of a 5 percent increase in unit volume.

First-quarter net income net income soared 37 percent to $1.1 billion from $838 million a year ago, while operating income climbed 11 percent to $1.7 billion from $1.6 billion, BNSF reported in a press release.

Average revenue per car increased 2 percent as a result of higher fuel surcharges primarily driven by higher fuel prices and rates per car or unit, partially offset by changes in business mix.

 

Continue here.

 
 
 


#9 CNJRoss

CNJRoss

    Administrator

  • Admin
  • PipPip
  • 43390 posts
  • Gender:Male
  • Location:Fairfax, VA

Posted 10 May 2018 - 03:13 PM

email-header.gif?version=2015-05-13

 

 

Union Pacific Corporation Declares Second Quarter 2018 Dividend

 

Omaha, Neb., May 10, 2018

 

The Board of Directors of Union Pacific Corporation (NYSE: UNP) has declared a quarterly dividend of 73 cents per share on the company's common stock, payable June 29, 2018, to shareholders of record May 31, 2018.

 

Union Pacific has paid dividends on its common stock for 119 consecutive years.

 

 






1 user(s) are reading this topic

0 members, 1 guests, 0 anonymous users