CSX Corp. on April 22 announced a first-quarter earnings drop of 8% to $770 million, or $1 per share, compared with $834 million, or $1.02, in the same quarter of 2019.
Kansas City Southern reported record revenue and an increase in profit for the first quarter of 2020. The Kansas City, Mo.-based Class 1 freight railroad said net revenue rose 8% year-over-year to $731.7 million, compared with $674.8 million a year ago…
Canadian Pacific reported reduced first-quarter earnings April 21 as the railroad’s revenue was up 15.6% to C$2.04 billion compared with $1.77 billion in the same quarter a year ago.
Union Pacific Corp. reported first-quarter earnings that outpaced Wall Street expectations, even as its quarterly revenue dipped.
The U.S. economy likely will shrink when first-quarter gross domestic product figures are released by the federal government’s Bureau of Economic Analysis on April 29.
The nation’s major ports suffered the full economic impact of the coronavirus in March as global trade practically came to a halt.
The trucking industry will play a critical role in the development and implementation of plans to restart the country’s struggling economy, American Trucking Associations President Chris Spear said.
Truck tonnage rose 4.3% year-over-year in March on gains in selected business sectors, according to American Trucking Associations.
The price of oil dropped to its lowest level in history April 20, sinking into negative pricing as oil supplies are beginning to overwhelm the globe’s storage capacity.
A coalition of trucking industry groups recently distributed 4,000 free face masks to small trucking firms whose drivers are delivering goods amid the COVID-19 pandemic.