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[CNJRoss]

CSX news  release:

 

CSX Corporation Announces Fourth-Quarter and Full-Year 2016 Earnings

 

1/17/2017

 

Highlights:

• CSX generated record full-year efficiency savings of nearly $430 million in 2016
   
• Improved service levels drove strong pricing to support reinvestment in the business  
   
• For the second consecutive year, the company delivered a sub-70 operating ratio

JACKSONVILLE, Fla., Jan. 17, 2017 (GLOBE NEWSWIRE) -- CSX Corporation (Nasdaq:CSX) today announced fourth quarter 2016 net earnings of $458 million, or $0.49 per share, versus $466 million, or $0.48 per share, in the same period of last year. The fourth quarter of 2016 included an operating property sale and a debt refinancing charge, both of which were $0.08 per share and offset each other in the quarter. In addition, the fourth quarter included an extra accounting week resulting from the company’s 52/53 week fiscal reporting calendar, which benefitted earnings per share by $0.03 per share.

 

Including the extra week, fourth quarter revenue increased 9 percent and expenses increased 2 percent. Operating income for the quarter was $1 billion, which included the $115 million gain from the property sale and the $62 million benefit from the extra week.  

 

For the full year 2016, the industry continued to face headwinds from low global commodity prices and strength of the U.S. dollar. In this environment, CSX generated $11.1 billion in revenue as volume declined 5 percent overall with a 21 percent decline in the company’s coal business. Even with these ongoing challenges, CSX delivered earnings per share of $1.81, operating income of $3.4 billion and an operating ratio of 69.4 percent.

 

“In an environment where the company lost almost $470 million of coal revenue and experienced weakness across most of its markets, CSX delivered nearly $430 million of productivity savings in 2016, while improving customer service,” said Michael J. Ward, chairman and chief executive officer. “With business conditions gradually improving and the ongoing transformation into the CSX of Tomorrow, we will continue to deliver sustainable shareholder value.”

 

The CSX of Tomorrow strategy drives profitable growth in its merchandise and intermodal markets as the company progresses towards a mid-60s operating ratio longer-term.

 

CSX executives will conduct a quarterly earnings conference call with the investment community on January 18, 2017, from 8:30 a.m. to 9:30 a.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's 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.

 

 

 

 

[CNJRoss]

CP news  release:

 

CP reports record low operating ratio for fourth quarter and full year amid challenging conditions

January 18, 2017 Calgary, AB

 

 

​​​​​​​Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) today announced its lowest-ever fourth-quarter operating ratio ("OR") of 56.2 percent and a record-low full-year OR of 58.6 percent as focussed cost control helped offset softer than expected volumes.

 

Fourth-quarter revenues decreased 3 percent to C$1.64 billion from $1.69 billion, while diluted earnings per share ("EPS") increased 25 percent to $2.61 from $2.08 and adjusted diluted EPS rose 12 percent to $3.04 from $2.72.

 

"While the fourth quarter was weighed down by challenging operating conditions, including unexpected and extreme weather on the West Coast that compounded the impact of an already delayed grain harvest, it once again highlighted our resiliency and ability to operate efficiently under tough conditions," said E. Hunter Harrison, CP's Chief Executive Officer. "I am particularly proud of our people who worked tirelessly over the last three months of 2016 to deliver for our customers in a safe and efficient manner."

• ​​view the fourth-quarter earnings release and financial reports​​​

FULL-YEAR 2016 RESULTS

• Revenues decreased 7 percent to $6.23 billion from $6.71 billion
• OR fell to a record 58.6 percent, improving on the 2015 reported OR by 140 basis-points and the adjusted OR by 240 basis-points
• Reported diluted EPS increased 27 percent to $10.63 from $8.40; adjusted diluted EPS rose 2 percent to $10.29 from $10.10
• Free cash flow of $1 billion

"2016 featured stiff economic headwinds and a challenging volume environment, headlined by a precipitous decline in crude oil shipments and weakness in grain movements, particularly in the first half," Harrison said. "These are not excuses, but opportunities to showcase our operating ability and leadership. As we have shown over the last four years, the precision railroading model works in all economic conditions."

 

In 2017, CP will continue to find opportunities to enhance the productivity, fluidity and safety of its operations.

 

"With continued margin improvement and an anticipated increase in volumes, led by a stronger bulk outlook, we expect adjusted diluted EPS growth to be in the high single-digits," said Keith Creel, CP's President and Chief Operating Officer. "With our strong leadership team, plus the commitment and discipline shown by the thousands of men and women every day at CP, the franchise is well positioned for 2017 and beyond."

 

CP's expectations for adjusted diluted EPS growth in 2017 are based on adjusted diluted EPS of $10.29 in 2016. CP assumes that in 2017 the Canadian-to-U.S. dollar exchange rate will be in the range of $1.30 to $1.35, the average price of West Texas Intermediate (WTI) will be approximately US$45 to $55 per barrel. To further enhance safety and fluidity of the network, CP also plans to invest approximately $1.25 billion in capital programs in 2017, an increase of 6 percent over the $1.18 billion spent in 2016. ​

Non-GAAP Measures

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

 

[CNJRoss]

Union Pacific Reports Fourth Quarter and Full Year 2016 Results

Omaha, Neb., January 19, 2017

 

Union Pacific Corporation (NYSE: UNP) today reported 2016 fourth quarter net income of $1.1 billion, or $1.39 per diluted share compared to $1.31 per diluted share, in the fourth quarter 2015.

 

Fourth Quarter Results

• Diluted earnings per share of $1.39 increased 6 percent.
• Operating income totaled $2.0 billion, up 2 percent.
• Operating ratio of 62.0 percent, improved 1.2 points.

Full Year 2016 Results

• Diluted earnings per share of $5.07 declined 8 percent.
• Operating income totaled 7.3 billion, down 10 percent.
• Operating ratio of 63.5 percent, up 0.4 points.

"While full-year volumes were down substantially year over year, we did see declines moderate in the fourth quarter," said Lance Fritz, Union Pacific chairman, president and chief executive officer. "As we worked through the challenges of the year, we remained focused on the strategy we live each day through our six value tracks. Executing on these value tracks enables us to run a safe, efficient, and productive railroad while providing our customers an excellent value proposition."

 

Fourth Quarter Summary

Operating revenue of $5.2 billion was down 1 percent in the fourth quarter 2016 compared to the fourth quarter 2015. Fourth quarter business volumes, as measured by total revenue carloads, declined 3 percent compared to 2015. While shipments of agricultural products grew 8 percent, volumes declined in the remaining five business groups. In addition:

• Quarterly freight revenue decreased 1 percent compared to the fourth quarter 2015, as volume declines and lower fuel surcharge revenue more than offset core pricing gains.
• Union Pacific's 62.0 percent operating ratio improved 1.2 points compared to the fourth quarter 2015.
• The $1.65 per gallon average quarterly diesel fuel price in the fourth quarter 2016 was 2 percent higher than the fourth quarter 2015.
• Quarterly train speed, as reported to the Association of American Railroads, was 26.5 mph, 2 percent slower than the fourth quarter 2015.
• The Company repurchased 9.6 million shares in the fourth quarter 2016 at an aggregate cost of nearly $940 million.

Summary of Fourth Quarter Freight Revenues

• Agricultural Products up 7 percent
• Chemicals flat
• Intermodal flat
• Industrial Products down 2 percent
• Automotive down 6 percent
• Coal down 6 percent

2016 Full Year Summary

For the full year 2016, Union Pacific reported net income of $4.2 billion or $5.07 per diluted share versus $4.8 billion or $5.49 per diluted share in 2015, representing 11 and 8 percent decreases, respectively. Operating revenue totaled $19.9 billion as compared to $21.8 billion in 2015. Operating income totaled $7.3 billion, a 10 percent decrease compared to 2015. In addition:

• Freight revenue totaled $18.6 billion, a 9 percent decrease when compared to 2015. Carloadings were down 7 percent versus 2015, with declines in the chemicals, coal, industrial products and intermodal business groups.
• Average diesel fuel prices decreased 20 percent to $1.48 per gallon in 2016 from $1.84 per gallon in 2015.
• Union Pacific's operating ratio increased to 63.5 percent, 0.4 points higher than the full-year record set in 2015.
• Train speed, as reported to the Association of American Railroads, was 26.6 mph, 5 percent faster compared to the full year 2015.
• Union Pacific's reportable personal injury rate of 0.75 incidents per 200,000 employee hours was a full-year record, improving 14 percent compared to 2015.
• Union Pacific's capital program in 2016 totaled just under $3.5 billion, a decrease of approximately $800 million compared to the full year 2015.
• The Company repurchased 35.1 million shares in 2016 at an aggregate cost of $3.1 billion.

2017 Outlook

"Looking to 2017, we are fairly optimistic about some of the macro-economic indicators that drive our core business. Higher energy prices, favorable agricultural markets and improving business and consumer confidence all support a return to positive volume growth this year," Fritz said. "We continue to have confidence in the strength and diversity of the Union Pacific franchise, which will position us well to safely and efficiently leverage stronger volumes as our markets begin to rebound. We will continue to execute on our strategic value tracks to provide our customers an excellent service experience while generating strong returns for our shareholders."

 

View this release online along with any supplemental materials at http://www.up.com/media/releases/170119-earnings.htm

 

 

[CNJRoss]

CN news release, 1/24:

 

CN reports record Q4-2016 net income of C$1,018 million, with diluted earnings per share (EPS) up 12 per cent to C$1.32 and up four per cent to C$1.23 on an adjusted basis (1)

Quarter caps solid full-year financial and operating performance, including significant improvements in safety

 

 

 

MONTREAL, Jan. 24, 2017 /CNW/ - CN (TSX: CNR) (NYSE: CNI) today reported its financial and operating results for the fourth quarter and year ended Dec. 31, 2016.

 

Fourth-quarter 2016 financial highlights

• Net income increased eight per cent to C$1,018 million, while diluted EPS increased 12 per cent to C$1.32, compared with the fourth quarter of 2015. 
• Adjusted net income increased one per cent to $952 million, with adjusted diluted EPS increasing four per cent to C$1.23. ⁽¹⁾
• Operating income increased three per cent to C$1,395 million.
• Revenues increased by two per cent to C$3,217 million. Carloadings increased three per cent, and revenue ton-miles increased four per cent.
• The operating ratio improved by 0.6 points to 56.6 per cent.

 

Full-year 2016 financial highlights

• Net income increased three per cent to C$3,640 million, with diluted EPS rising six per cent to C$4.67.
• Adjusted net income remained essentially flat at C$3,581 million, while adjusted diluted EPS increased three per cent to C$4.59. ⁽¹⁾
• Operating income rose one per cent to C$5,312 million.
• Revenues decreased by five per cent to C$12,037 million. Carloadings and revenue ton-miles both declined by five per cent in 2016.
• The operating ratio for 2016 improved by 2.3 points to 55.9 per cent.
• Free cash flow ⁽¹⁾ was a record C$2,520 million, compared with C$2,373 million for 2015.

 

Luc Jobin, president and chief executive officer, said: "Despite facing difficult winter conditions in December, CN delivered very strong fourth-quarter results and throughout 2016 demonstrated once again its ability to perform well in a mixed economic environment.

"We saw weaker volumes during the year, but quickly adjusted as our dedicated team of railroaders maintained its focus on operational efficiency, while continuing to provide quality service to our customers and improve our safety performance."

 

2017 outlook, increased dividend ⁽²⁾
Jobin said: "Overall, the economy remains challenging, but we remain optimistic and expect to see moderate volume growth in 2017."

CN expects to deliver EPS growth in the mid-single-digit range in 2017 over adjusted diluted EPS of C$4.59 in 2016. ⁽¹⁾ CN will continue to invest in the safety and efficiency of its network, with a 2017 capital investment program of approximately C$2.5 billion, which includes increased spending for Positive Train Control technology in the United States. 

 

The Company's Board of Directors today approved a 10 per cent increase to CN's 2017 quarterly cash dividend.

 

Fourth-quarter 2016 revenues, traffic volumes and expenses
Revenues for the quarter increased by two per cent to C$3,217 million. Revenues increased for grain and fertilizers (14 per cent), automotive (four per cent), and intermodal (one per cent). Revenues declined for metals and minerals (six per cent), coal (six per cent), petroleum and chemicals (five per cent), while revenues for forest products remained flat.

 

The revenue increase was mainly attributable to higher volumes of Canadian grains and U.S. soybeans, refined petroleum products, finished vehicles, and petroleum coke; as well as freight rate increases. These factors were partly offset by lower volumes of crude oil, U.S. thermal coal, and drilling pipe; and lower applicable fuel surcharge rates.

 

Carloadings for the quarter increased three per cent to 1,369 thousand.

 

Revenue ton-miles (RTMs), measuring the relative weight and distance of rail freight transported by CN, increased by four per cent, while rail freight revenue per RTM, a measurement of yield defined as revenue earned on the movement of a ton of freight over one mile, decreased by three per cent.

 

Operating expenses for the quarter increased by one per cent to C$1,822 million. The increase was primarily due to higher casualty and other expenses, and higher depreciation and amortization expense, partly offset by lower pension expense and lower costs resulting from operating productivity gains, including cost-management initiatives.

 

Full-year 2016 revenues, traffic volumes and expenses
Revenues for 2016 decreased by five per cent to C$12,037 million. Revenues increased for automotive (six per cent), forest products (four per cent), and grain and fertilizers (one per cent), but were more than offset by revenue declines for coal (29 per cent), metals and minerals (15 per cent), petroleum and chemicals (11 per cent), and intermodal (two per cent).

 

The decrease in total revenues was mainly attributable to lower volumes of crude oil, coal and frac sand; as well as lower applicable fuel surcharge rates. These factors were partly offset by the positive translation impact of the weaker Canadian dollar and freight rate increases.

Carloadings declined five per cent to 5,205 thousand.

 

RTMs decreased by five per cent. Rail freight revenue per RTM remained flat compared to 2015, driven by lower applicable fuel surcharge rates and an increase in the average length of haul; offset by the positive translation impact of a weaker Canadian dollar and freight rate increases.

 

Operating expenses for 2016 decreased by eight per cent to C$6,725 million. The decrease was mainly due to lower costs resulting from operating productivity gains, including cost-management initiatives and decreased volumes of traffic; lower pension expense; and lower fuel prices, partly offset by the negative translation impact of a weaker Canadian dollar on U.S.-dollar-denominated expenses.

 

The operating ratio was 55.9 per cent in 2016, an improvement of 2.3 points over the 2015 operating ratio of 58.2 per cent.

 

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. As such, the Company's results are affected by exchange-rate fluctuations. On a constant currency basis ⁽¹⁾ that excludes the impact of fluctuations in foreign currency exchange rates, CN's net income for the three months and year ended December 31, 2016 would have been lower by C$3 million (unchanged per diluted share) and C$85 million (C$0.11 per diluted share), respectively.

 

Continue here.

[CNJRoss]

CN news release, 1/24:

 

CN announces 10 per cent increase in quarterly cash dividend

MONTREAL, Jan. 24, 2017 /CNW/ - CN (TSX: CNR) (NYSE: CNI) announced today that its Board of Directors has approved a 10 per cent increase in the Company's quarterly cash dividend. With this increase, CN's dividend on an annualized basis is C$1.65 per common share.

 

Ghislain Houle, CN executive vice-president and chief financial officer, said: "CN delivered strong results through challenging economic conditions in 2016. This performance reflects our resilience and supports our long-running ability to reward shareholders with consistent dividend growth."

 

A quarterly dividend of forty-one-and-one-quarter cents (C$0.4125) per common share will be paid on March 31, 2017, to shareholders of record at the close of business on March 10, 2017.

 

CN has declared annual increases to its dividend every year since its first dividend declaration in 1996.

 

[CNJRoss]

NS news release, 1/24:
 

Norfolk Southern raises quarterly dividend

 

 

NORFOLK, Va., Jan. 24, 2017 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) announced that its Board of Directors today voted to increase the regular quarterly dividend on the company's common stock by 3 percent, or 2 cents per share, from 59 to 61 cents per share.

 

"The dividend increase reflects our board's confidence in the company's strategic plan and demonstrates our commitment to deliver long-term value for our shareholders," said Norfolk Southern Chairman, President and CEO James A. Squires.

 

The increased dividend is payable on March 10 to stockholders of record on Feb. 3. Since its inception in 1982, Norfolk Southern has paid dividends on its common stock for 138 consecutive quarters.

 

[CNJRoss]

NS news release, 1/25:
 

Norfolk Southern reports fourth-quarter and full-year 2016 results

Achieves record operating ratio of 68.9 percent for the year

 

 

NORFOLK, Va., Jan. 25, 2017 – Norfolk Southern Corporation (NYSE: NSC) today reported fourth-quarter and 2016 financial results.

 

Net income for the quarter was $416 million, a 15 percent increase compared with $361 million during the same period of 2015. Diluted earnings per share were $1.42, up 18 percent compared with $1.20 diluted earnings per share in the fourth quarter last year. Norfolk Southern announced Tuesday that it increased its quarterly dividend to $0.61 per share, reflecting a 2 cent, or 3 percent, increase over the previous quarter’s dividend.

 

For 2016, net income was $1.7 billion, up 7 percent compared with $1.6 billion in 2015. Diluted earnings per share increased 10 percent to $5.62 compared with $5.10 per diluted share in the prior year. Results for 2015 included restructuring expenses that reduced fourth-quarter 2015 net income by $31 million, or $0.10 per diluted share, and lowered 2015 net income by $58 million, or $0.19 per diluted share for the full year.

 

“2016 was a pivotal year as Norfolk Southern began implementing its new Strategic Plan. We delivered $250 million of productivity savings and recorded our best ever operating ratio, notwithstanding challenging business conditions,” said James A. Squires, Norfolk Southern chairman, president and CEO. “With the dedication and support of Norfolk Southern’s talented employees, we improved service for customers while positioning the company for further growth in 2017 and beyond. We are poised to continue building on our success and deliver an additional $100 million of productivity savings in 2017 on the way to our goal of $650 million of annual savings by 2020. We remain steadfast in our commitment to delivering superior shareholder value through the execution of our Strategic Plan.”

 

FOURTH-QUARTER SUMMARY

 

• Railway operating revenues of $2.5 billion declined 1 percent compared with fourth-quarter 2015, reflecting lower merchandise and coal traffic volume, as well as reduced fuel surcharges. These declines were offset in part by intermodal volume growth that eclipsed the effects of the 2015 Triple Crown restructuring.

• General merchandise revenues were $1.5 billion, 1 percent lower than the same period last year. Volume was 3% lower overall, as growth in steel and agriculture was offset by declines in energy markets, vehicles, and paper and forest products. Norfolk Southern’s five merchandise commodity groups reported the following year-over-year revenue results:

• Agriculture: $399 million, up 4 percent
• Chemicals: $395 million, down 7 percent
• Metals/Construction: $296 million, up 6 percent
• Automotive: $237 million, down 5 percent
• Paper/Forest: $177 million, down 5 percent

• Intermodal revenues increased to $583 million, a 4 percent gain compared with fourth-quarter 2015. Volumes increased 7 percent, with growth in domestic and international traffic offsetting the Triple Crown restructuring.

• Coal revenues declined 7 percent to $403 million compared with fourth-quarter 2015. Volume fell 4 percent with an increase in export coal softening the decline in the utility market.

• Railway operating expenses declined $147 million, or 8 percent, to $1.7 billion compared with same period last year due to targeted expense reductions and the absence of last year’s restructuring costs.

• Income from railway operations was $761 million, an increase of 19 percent compared with fourth-quarter 2015.

• The composite service metric, which measures train performance, terminal operations, and operating plan adherence, was 80 percent, a 200 basis point improvement compared with 78 percent in the same quarter last year.

• The railway operating ratio, or operating expenses as a percentage of revenues, was 69.4 percent, a 510 basis point improvement compared with 74.5 percent in the fourth quarter of 2015.

 

2016 SUMMARY

 

• Railway operating revenues were $9.9 billion, 6 percent lower compared with 2015. The decrease was driven by a 3 percent volume decline due to reductions in energy-related markets and the Triple Crown restructuring, as well as reduced fuel surcharges.

• General merchandise revenues were $6.2 billion, a 2 percent decrease compared with the prior year. Volume declined 2 percent, primarily due to reduced demand in energy markets, and fuel surcharges were lower.

• Intermodal revenues totaled $2.2 billion, 8 percent lower compared with 2015, reflecting the Triple Crown restructuring, as well as reduced fuel surcharges. International and domestic growth more than offset the volume decline from the Triple Crown restructuring. 

• Coal revenues were $1.5 billion, down 18 percent year-over-year. Reduced utility volumes combined with a weak global export market lowered total volume by 16 percent.

• Railway operating expenses declined $813 million, or 11 percent, to $6.8 billion primarily due to targeted expense reduction initiatives, lower fuel expenses, the absence of last year’s restructuring cost, and service improvements.

• Income from railway operations was $3.1 billion, a 7 percent increase compared with the previous year.

• The composite service metric was 80 percent, an 800 basis point improvement compared with 72 percent last year.

• The operating ratio for the year was a record 68.9 percent, a 370 basis point improvement compared with 72.6 percent in the prior year.

For 2017, Norfolk Southern plans to invest $1.9 billion to maintain the safety of its rail network, enhance service, improve operational efficiency, and support growth opportunities, which is consistent with Norfolk Southern’s total capital investment of $1.9 billion in 2016.

 

[CNJRoss]

KCS news release, 1/20/17:

 

Kansas City Southern Reports Fourth Quarter and Full-Year 2016

 

Fourth Quarter 2016 Results

 

• Revenue of $599 million, unchanged from prior year
• Carload volumes of 555 thousand, unchanged from prior year
• Operating income of $211 million, a decrease of 4% from fourth quarter 2015
• Operating ratio of 64.8%, compared with 63.4% in fourth quarter 2015
• Diluted earnings per share of $1.21, a decrease of 5% compared to fourth quarter 2015. Adjusted diluted earnings per share of $1.12, a decrease of 9% compared to fourth quarter 2015

 

Kansas City, Mo., January 20, 2017.  Kansas City Southern (KCS) (NYSE:KSU) reported fourth quarter 2016 revenues of $599 million, unchanged from fourth quarter 2015. Overall, carload volumes were unchanged compared to the prior year. Excluding the estimated impact of Mexican peso depreciation, revenues would have increased by 3% compared to the fourth quarter of 2015.

 

Operating expenses in the fourth quarter were $388 million, an increase of 2% from 2015. Excluding the estimated impact of Mexican peso depreciation, operating expenses increased 7% compared to the fourth quarter of 2015.

 

Operating income for the fourth quarter of 2016 was $211 million, a decrease of 4% from the fourth quarter 2015.  KCS reported a fourth quarter operating ratio of 64.8%, a 1.4 point increase from fourth quarter 2015. Reported net income in the fourth quarter of 2016 totaled $130 million, or $1.21 per diluted share, compared with $140 million, or $1.28 per diluted share, in the fourth quarter of 2015.  Excluding the impacts of foreign exchange fluctuations and 2015 debt retirement and exchange costs, adjusted diluted earnings per share for fourth quarter 2016 was $1.12, compared to $1.23 in fourth quarter 2015. 

 

For the full year of 2016, revenue was $2.3 billion, down 3% from 2015. Carloads for 2016 were 2.17 million, a decrease of 2% from the prior year.  Full year 2016 operating income was $819 million, an increase of 2% from the prior year.  The Company’s 2016 operating ratio was 64.9%, a 1.9 point improvement from the prior year’s reported operating ratio and a 1.5 point improvement from the prior year’s adjusted operating ratio.

 

Reported net income in 2016 totaled $480 million or $4.43 per diluted share, compared with $485 million, or $4.40 per diluted share, in 2015.  Excluding the impacts of foreign exchange fluctuations and 2015 lease termination and debt retirement and exchange costs, adjusted diluted earnings per share for 2016 was $4.48 compared to $4.49 in 2015. 

  

“KCS’ ability to react swiftly and efficiently was proven throughout 2016, as our network faced challenging operational interruptions throughout the year.  In addition, volatility in key commodities such as energy, consumer, and intermodal markets created uncertainty during 2016.  Despite these conditions, KCS’ achieved a full-year operating ratio of 64.9%, a

1.5 point improvement versus 2015 adjusted.” stated Kansas City Southern’s President and Chief Executive Officer Patrick J. Ottensmeyer.

 

“Looking ahead to 2017, the Company is aware of both economic and political uncertainty. However, we continue to emphasize our commitment to growth and we are well positioned to take full advantage of the significant new business opportunities that lie ahead of us.”

 

Continue here.

[CNJRoss]

KCS news release, 1/26/17:

 

KCS Declares Dividends on 4% Non-Cumulative Preferred Stock and Common Stock; Establishes Annual Meeting Date

 

Kansas City, Mo., January 26, 2017.  Kansas City Southern’s (KCS) (NYSE:KSU) Board of Directors on January 26, 2017 declared a regular dividend of $0.25 per share on the outstanding KCS 4% non-cumulative preferred stock.  The dividend is payable on April 4, 2017 to preferred stockholders of record at the close of business on March 13, 2017.

 

The Board of Directors also declared a regular dividend of $0.33 per share on the outstanding KCS common stock.  This dividend is payable on April 5, 2017, to common stockholders of record at the close of business on March 13, 2017.

 

The Board of Directors also set the Annual Meeting of Stockholders to be held in Kansas City, Missouri on Thursday, May 4, 2017.  Stockholders of record of KCS’s common stock and KCS’s 4% non-cumulative preferred stock as of March 6, 2017, will be entitled to notice of the meeting and to vote at such meeting.

 

[CNJRoss]

Union Pacific Corporation Announces a $3.1 Billion Capital Plan for 2017 and Declares First Quarter 2017 Dividend

Omaha, Neb., February 2, 2017

 

 

The Board of Directors of Union Pacific Corporation (NYSE: UNP) today approved the Company's 2017 capital plan of approximately $3.1 billion, down about $400 million versus 2016. The plan includes $300 million to further implement Positive Train Control.

 

"The 2017 capital plan reflects our continued commitment to safety, productivity and future profitable growth," said Rob Knight, Union Pacific chief financial officer. "Our capital investments serve a critical role in adding value for our customers and shareholders."

 

The Board also declared a quarterly dividend of 60.5 cents per share on the company's common stock, payable March 31, 2017, to shareholders of record February 28, 2017.

 

Union Pacific has paid dividends on its common stock for 118 consecutive years.