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Norfolk Southern (NYSE:NSC) reported a stronger-than-expected second quarter, with executives pointing to a sharp rebound in freight volumes, higher energy-related demand and improving intermodal trends, while also acknowledging service pressures caused by the rapid increase in traffic. President a
Norfolk Southern Corp (NSC) reports a robust quarter with 7% net income growth, driven by increased volumes and strategic market positioning, despite facing cost pressures from rising fuel prices.
Norfolk Southern posted Q2 earnings that saw operating income rise 5% on revenue that was 11% higher. The post Norfolk Southern’s earnings rise with volume gains appeared first on FreightWaves.
Shares of freight railroads Union Pacific, CSX and Norfolk Southern jumped after they reported higher revenue, as more shippers moved their cargo from truck to rail. “I’m very bullish from where we sit on demand,” said Union Pacific Executive Vice President Kenny Rogers in an earnings call. Union Pacific reported a 12% increase in second-quarter operating revenue compared to the same period a year ago, CSX reported a 10% increase and Norfolk Southern, an 11% increase.
Union Pacific struck a deal with Canadian National to secure that rival's support for its proposed $85 billion acquisition of Norfolk Southern railroad. The deal to create the nation's first transcontinental railroad has been divisive within the industry because it would concentrate so much market power in the hands of one company that would control more than 40% of all rail traffic and reduce the number of major freight railroads in the United States down to five. BNSF, CPKC and CSX railroads all strongly oppose the merger, but now Canadian National said it will support it after winning concessions from Union Pacific.
The railroad's revenue rose 11% year-over-year to $3.5 billion, topping Wall Street expectations for the second quarter
Stripping out one-time costs, such as expenses related to its tie-up with Union Pacific and continued costs from its freight-train derailment in Ohio, earnings were $3.52 a share in the second quarter.
Norfolk Southern Corp. said Q2 earnings exceeded Wall Street expectations on higher freight volumes and fuel surcharges. The post First look: Norfolk Southern earnings appeared first on FreightWaves.
Canadian National will support the UP-NS merger in exchange for improved access to markets in the U.S. Midwest and Mexico. The post CN and UP reach settlement on Norfolk Southern merger appeared first on FreightWaves.
Union Pacific reached a deal with Canadian National Railway to give the Montreal railroad further access in the Midwest in exchange for ending its opposition to Union Pacific’s $71.5 billion merger with Norfolk Southern.
Norfolk Southern is set to report its second-quarter results later this month, and analysts predict a single-digit drop in the company’s bottom-line figure.
As the Big Boy steam locomotive thundered into Philadelphia for the USA 250 celebration, the CEOs of Union Pacific and Norfolk Southern talked about the proposed merger that could reshape the American supply chain. The post EXCLUSIVE: Union Pacific, Norfolk Southern CEOs talk about the rail merger that could reshape the U.S. economy appeared first on FreightWaves.
By David Shepardson WASHINGTON, July 7 (Reuters) - Union Pacific and Norfolk Southern told a U.S. government agency Tuesday they are willing to divest ownership stakes in some smaller railroads as
Union Pacific and Norfolk Southern submitted initial responses to the Surface Transportation Board's request for additional data regarding their proposed transcontinental rail merger. The post Union Pacific, Norfolk Southern submit more merger data appeared first on FreightWaves.
Railroad companies Canadian National Railway (CNI), CSX (CSX), and Union Pacific (UNP) are well-posi
The delivery giant is posting impressive sales growth, but a tangle of new expenses has investors hitting the brakes.
Union Pacific CEO Jim Vena stated the company can afford its $85 billion Norfolk Southern merger without federal investment. The post UP CEO says no thanks to potential government investment in $85B merger appeared first on FreightWaves.
Opponents of a controversial transcontinental rail merger hailed the House transportation appropriations committee’s backing of a ‘rigorous’ review of the deal by federal regulators. The post House endorses 25-year old rules for rail merger review appeared first on FreightWaves.
Union Pacific's CEO Jim Vena said he's not had any direct conversations with Trump about the government acquiring a 15% stake in the pending UP-Norfolk Southern merger.
The STB accepted the railroads' application but flags the proposed deal's "unclear and underdeveloped" aspects.
Union Pacific (NYSE: UNP) and Norfolk Southern (NYSE: NSC) sit on opposite ends of the largest rail deal in U.S. history: a stock-and-cash transaction valued at $320 per share and $85 billion in enterprise value. The Surface Transportation Board (STB) accepted the revised application on May 28, 2026, then paused the review to request more ... Union Pacific vs Norfolk Southern: Which Side of the Megamerger Should You Own?
Trump did not name any specific companies, but Union Pacific's pending acquisition of Norfolk Southern is the only known railroad deal currently in progress.
North America’s freight rail map is about to be redrawn. The proposed merger of Union Pacific (NYSE: UNP) with Norfolk Southern (NYSE: NSC) would create the first transcontinental railroad, and the Surface Transportation Board review will almost certainly require divestitures of regional lines, yards, and equipment. Investors fixate on the operators. The more interesting question ... Brookfield Infrastructure Could Quietly Cash In on the Coming Rail Megamerger
The Surface Transportation Board gave conditional approval of the Union Pacific-Norfolk Southern revised merger application, but asked for more information. The post How rail mega-merger moved ahead, and STB avoided making history appeared first on FreightWaves.
Class A shares of Berkshire Hathaway, owner of BNSF Railway, reversed earlier gains on Thursday after a federal regulator pushed pause on its review of the blockbuster merger between Union Pacific and Norfolk Southern. BNSF, which competes with Union Pacific in the Western U.S., has previously said that the proposed merger will "concentrate too much control of the nation's freight market with one railroad leading to long-term harm to competition and resilience in the nation's supply chain." "BNSF remains firmly opposed to the proposed UP–NS merger," the Berkshire-owned railroad said in a statement on Thursday.
(Updates with Union Pacific and Norfolk Southern comments in the second and third paragraphs and sto
The federal Surface Transportation Board is seeking more information on the impact of combining Union Pacific and Norfolk Southern.
The Surface Transportation Board accepted the merger application from Union Pacific and Norfolk Southern, on the condition that the partners submit more data for evaluation. The post BREAKING: STB conditionally accepts UP-NS rail merger application, wants more data appeared first on FreightWaves.
Shares of freight railroads Union Pacific and Norfolk Southern dropped sharply Thursday, after a federal regulator paused the review process for their merger, stating it needed more details to evaluate the transaction. Union Pacific fell 3.5%, and Norfolk Southern is down 5%. While the Surface Transportation Board said it accepted the revised merger application that the two railroads filed in April, it froze the review and will establish another schedule for the remainder of the process.
The Surface Transportation Board accepted the companies' revised $85 billion application but put all proceedings on hold pending more information
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