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Class 1 2017 4th Qtr and Full Year Earnings & Dividend Announcemen


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#11 CNJRoss

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Posted 12 February 2018 - 11:56 PM

CSX news release:
 

CSX Corporation Announces Increase to Dividend and Share Repurchase Program

 

 

JACKSONVILLE, Fla. – February 12, 2018 – CSX Corporation (NASDAQ: CSX) today announced that the Company’s Board of Directors has authorized a ten percent increase in its quarterly dividend along with an increase to the current share repurchase program to $5 billion.

 

James M. Foote, CSX President and Chief Executive Officer: “The CSX Board of Directors has confidence in the quality of our franchise and our long-term prospects. The share repurchase program increase to $5 billion that the CSX board has authorized is a demonstration of this confidence.

 

“The CSX leadership team and I look forward to the upcoming investor conference in March where we will provide more detail on the company’s transformation and progress toward our 60 percent operating ratio target by 2020.”

 

The CSX Board of Directors approved an increase in the quarterly dividend from $0.20 to $0.22. The new $0.22 quarterly dividend is payable on March 15, 2018, to shareholders of record at the close of business on March 1, 2018.

Management expects to complete the $5 billion share repurchase program by the end of the first quarter of 2019.

 

CSX will host its Investor and Analyst Conference on March 1, 2018, at the InterContinental New York Barclay Hotel in New York City.  Analysts and investors can obtain additional information about the conference by visiting http://investors.csx.com. Those interested in attending can then register for the event by clicking on the 2018 Investor and Analyst Conference link.

 



#12 CNJRoss

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Posted 17 February 2018 - 12:00 AM

CP news release:

 
Canadian Pacific Railway Limited declares dividend
February 15, 2018 Calgary, AB

 

The Board of Directors of Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) today declared a quarterly dividend of $0.5625 per share on the outstanding Common Shares. 

 

The dividend is payable on April 30, 2018 to holders of record at the close of business on March 23, 2018, and is an "eligible" dividend for purposes of the Income Tax Act (Canada) and any similar provincial/territorial legislation.

 



#13 CNJRoss

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Posted 27 February 2018 - 10:33 AM

BNSF's 2017 Financial Performance: Volumes, Revenues and Expenses

 

 

Statement of Income (in millions)

(See chart posted online.)

 

 

Volumes and Revenues

 

Fourth quarter and full year 2017 operating income were $2.0 billion and $7.3 billion, respectively, an increase of $200 million (11 percent) and $662 million (10 percent), respectively, compared to the same periods in 2016. Total revenues for the fourth quarter and full year 2017 were up 6 percent and 8 percent, respectively, compared with the same periods in 2016. This is a result of increases in unit volume for the fourth quarter and full year 2017 of 3 percent and 5 percent, respectively, and higher average revenue per car/unit.   

The increase in average revenue per car/unit in the full year 2017 was primarily due to higher fuel surcharges, increased rates per car/unit, and business mix changes.

 

Business unit fourth quarter and full year 2017 volume highlights:

  • Consumer Products volumes were up 6 percent for the fourth quarter and the full year 2017 compared with the same periods in 2016, due to higher domestic intermodal, international intermodal and automotive volumes. The increases were primarily due to improving economic conditions, normalizing of retail inventories, new services, and higher market share.  
  • Industrial Products volumes increased 14 percent and 5 percent for the fourth quarter and the full year 2017, respectively, compared with the same periods in 2016, primarily due to higher sand and other commodities that support drilling. In addition, broad strengthening in the industrial sector drove greater demand for steel and taconite. The volume increase was partially offset by lower petroleum products volume due to pipeline displacement of U.S. crude rail traffic.
  • Agricultural Products volumes were down 3 percent and relatively flat for the fourth quarter and the full year 2017, respectively, compared with the same periods in 2016, due to lower grain exports offset by higher shipments of domestic grain as well as ethanol and other grain products.
  • Coal volumes decreased 9 percent and increased 6 percent for the fourth quarter and the full year 2017, respectively, compared with the same periods in 2016. In the fourth quarter 2017, volume decreased due to lower natural gas prices and milder weather. Above target stockpiles at customer facilities and increased renewable generation also contributed to lower utility coal usage. The full year 2017 volume increase was due to higher natural gas prices, which led to increased utility coal usage. This was partially offset by the effects of unit retirements at coal generating facilities, increased renewable generation, and coal inventory adjustments at customer facilities.

Listed below are details by business units – including revenues, volumes and average revenue per car/unit.

(See chart posted online.)

 

 

Expenses

 

Operating expenses for the fourth quarter and full year 2017 were up 4 percent and 7 percent, respectively, compared with the same periods in 2016, as a result of increased volumes and inflation, including higher fuel prices. A significant portion of the increase is due to the following factors:

  • Compensation and benefits increased 4 percent for the fourth quarter and full year 2017, respectively, compared with the same periods in 2016. The increase was primarily due to higher health and welfare costs and increased volumes, partially offset by lower headcount.
  • Fuel expense was up 29 percent and 30 percent in the fourth quarter and full year 2017, respectively, compared with the same periods in 2016. The increase was primarily due to higher average fuel prices and higher volume. Locomotive fuel price per gallon increased 24 percent for the fourth quarter and full year 2017 to $1.99 and $1.77, respectively.  
  • Purchased services increased 7 percent and 4 percent in the fourth quarter and full year 2017, respectively, due to higher purchased transportation costs of our logistics services business.
  • Depreciation expense was up 10 percent and 11 percent for the fourth quarter and full year 2017, respectively, compared to the same periods in 2016, primarily due to a larger depreciable asset base.
  • Materials and other decreased 58 percent and 20 percent in the fourth quarter and full year 2017, respectively. These declines primarily resulted from the Tax Cuts and Jobs Act’s impact on an equity method subsidiary, as well as lower personal injury and casualty related costs and an impairment charge in the fourth quarter of the prior year.
  • There were no significant changes in equipment rents expense.

 

Operating Expenses (in millions)

(See chart posted online.)

 

 

Capital Activities

 

BNSF’s 2017 capital commitments were $3.3 billion, the largest component of which supported maintenance and replacement of BNSF’s core network and related assets.

 

Our 2018 planned capital commitments are $3.3 billion. Like last year’s plan, the largest component of the plan will be focused on maintenance and replacement of BNSF’s network and related assets to ensure BNSF continues to operate a safe and reliable network. This year, the maintenance and replacement component is expected to be $2.4 billion. These projects will primarily go toward replacing and upgrading rail, rail ties and ballast and maintaining rolling stock. BNSF will spend approximately $500 million on expansion and efficiency projects focused on key growth areas along BNSF’s Southern and Northern Transcon routes. BNSF will also spend $300 million on freight cars and other equipment acquisitions in 2018. The plan also has $100 million allocated to continued implementation of positive train control (PTC).  

 






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