Il futuro dei traporti sono ancora loro.. i treni!

[nemo17]

January 22, 2008

Norfolk Southern Reports Fourth-Quarter and 2007 Results

NS set the following fourth-quarter records:

- Railway operating revenues reached $2.5 billion.
- Income from railway operations rose 12 percent to $686 million.
- Net income increased 4 percent to $399 million.
- Diluted earnings per share climbed 7 percent to $1.02.

NS set the following records for the year:

- Railway operating revenues increased $25 million to $9.4 billion.
- Income from railway operations rose $28 million to $2.6 billion.
- Diluted earnings per share increased 3 percent to $3.68.

NORFOLK, VA – Norfolk Southern Corporation (NYSE: NSC) today reported
record fourth-quarter 2007 net income of $399 million, an increase of 4
percent, compared with $385 million for fourth-quarter 2006. Diluted
earnings per share were $1.02, up 7 percent, compared with the $0.95 per
diluted share earned in the fourth quarter of 2006. Net income for 2007
was $1.5 billion, down 1 percent, compared with record net income for
2006. Diluted earnings per share increased 3 percent, or 11 cents, to
$3.68.

“I am pleased to report that Norfolk Southern delivered a strong
financial performance in the fourth quarter in the face of economic headwinds
and higher fuel costs,” said CEO Wick Moorman. “While the economic
picture remains uncertain, we are optimistic about our prospects for 2008
and beyond. We continue to invest in infrastructure development such as
the Heartland Corridor to add capacity to our network for future
growth, and we are confident in the value of rail as the best transportation
choice for our customers.”

Fourth-quarter railway operating revenues were a record $2.5 billion,
up 6 percent, compared with the same period a year earlier. Flat
merchandise shipments, together with fewer coal and intermodal shipments,
contributed to a 3 percent decline in traffic volume. For 2007, railway
operating revenues improved by $25 million to $9.4 billion, slightly
higher than 2006, and volumes declined 4 percent.

General merchandise revenues were $1.4 billion, a fourth-quarter
record, and an increase of 10 percent compared with the same period last
year. These revenues included a contract volume settlement that had a
favorable impact of $26 million in the fourth quarter. General merchandise
volumes were about even, compared with the fourth quarter of last year.
For 2007, general merchandise revenues reached a record $5.2 billion, a
2 percent increase over 2006, despite a 4 percent decline in volume.

Coal revenues improved 2 percent to $601 million, a fourth-quarter
record, but declined 1 percent to $2.3 billion for the year, compared with
the same periods of 2006. Traffic volume was down 5 percent in the
quarter and declined 3 percent for the year compared with 2006 volumes.

Intermodal revenues were $496 million, up 1 percent, compared with
fourth-quarter 2006. For 2007, intermodal revenues were $1.9 billion, down
3 percent, compared to last year. Traffic volume declined 4 percent in
the quarter and for 2007 compared with the same periods of 2006.

Railway operating expenses were $1.8 billion for the quarter, 4 percent
higher compared with fourth-quarter 2006, largely due to increased
fuel costs. For 2007, railway operating expenses of $6.8 billion were
about even with 2006.

Income from railway operations set records for both the fourth quarter
and the year, climbing 12 percent to $686 million in the quarter and
increasing 1 percent to $2.6 billion for the year, compared with 2006.

The fourth-quarter operating ratio improved by 1.5 percentage points to
72.0 percent, compared with the same quarter of 2006. For the year,
the operating ratio was 72.6, down slightly from the year before.

Financial statements for the fourth quarter and for 2007 as well as the
Quarterly Financial Review for the fourth quarter are posted on the NS
Web site at www.nscorp.com under the Investors tab.

Norfolk Southern Corporation is one of the nation’s premier
transportation companies. Its Norfolk Southern Railway subsidiary operates
approximately 21,000 route miles in 22 states and the District of Columbia,
serving every major container port in the eastern United States and
providing superior connections to western rail carriers. NS operates the
most extensive intermodal network in the East and is North America’s
largest rail carrier of metals and automotive products.

 

[nemo17]

UNION PACIFIC ANNOUNCES 2-FOR-1 STOCK SPLIT, ADDITIONAL SHARE REPURCHASE AUTHORIZATION AND SECOND QUARTER DIVIDEND


FOR IMMEDIATE RELEASE

Omaha, Neb., May 1, 2008 – Union Pacific Corporation (NYSE:UNP) announced that its Board of Directors voted today to authorize a two-for-one stock split, distributed as a stock dividend. Shareholders will receive one additional share of Union Pacific common stock for each common share held. The stock dividend will be paid on May 28, 2008, to shareholders of record on May 12, 2008. This action will not change the proportionate interest that a shareholder maintains in the company.
Separately, the Board of Directors also authorized the repurchase of 20 million common shares (40 million shares post-split) by March 31, 2011. This new authorization is in addition to the 20 million share repurchase program initiated in January 2007. Since last January, Union Pacific has repurchased 16 million shares of common stock, returning $1.9 billion to shareholders. Approximately 4 million shares (8 million shares post-split) remain to be repurchased under the prior authorization. When completed, these two repurchase authorizations will have reduced total shares outstanding by roughly 15 percent since the start of the first program. The timing and volume of share repurchases under these authorizations will be at the discretion of management. Any share repurchase under these programs may be made in the open market, or otherwise.
Today, the Board of Directors also declared a quarterly dividend of 44 cents per common share (22 cents per share post-split) for the second quarter of 2008. The dividend is payable on July 1, 2008, to shareholders of record May 30, 2008. Union Pacific has paid dividends on its common stock for 109 consecutive years.
“We remain committed to improving returns,” said Jim Young, Chairman and Chief Executive Officer. “Union Pacific is building a strong track record of delivering results for its shareholders. The actions we are taking today reflect our confidence in the bright future of our Company. Our strong financial performance will enable us to continue to invest for safety and growth, maintain a strong balance sheet and enhance shareholder value.”

 

[Aerodynamik]

Ma perchè copiate ed incollate di continuo tante news che trovate sul web?

 

[nemo17]

July 22, 2008

Norfolk Southern Reports Record Results; Net Income Increases 15 Percent

For second-quarter 2008 vs. second-quarter 2007:
* Railway operating revenues increased 16 percent to a record $2.8 billion.
* Income from operations increased 16 percent to a record $799 million.
* Net income increased 15 percent to a record $453 million.
* Diluted earnings per share rose 20 percent to a record $1.18.

NORFOLK, VA. -- For the second quarter of 2008, Norfolk Southern Corporation (NYSE: NSC) reported record net income of $453 million, or $1.18 per diluted share, compared with $394 million, or $0.98 per diluted share, for the same period of 2007. Second-quarter railway operating revenues were a record $2.8 billion, up 16 percent compared with the second quarter of 2007.

"Norfolk Southern delivered record financial results during the quarter, reporting continuing strength in our coal, agriculture, and metals markets," said Norfolk Southern CEO Wick Moorman. "Looking ahead, our franchise should continue to benefit from a broad and balanced customer base as well as from rail's inherent advantages over other transportation modes -- safety and reliability, fuel efficiency, and environmental sustainability."

Although continued weakness in the automotive- and housing-related industries contributed to a 2 percent reduction in traffic volume compared with the same quarter last year, higher average revenue per unit more than offset the effect of reduced volumes.

Compared to the second quarter of 2007, general merchandise revenues increased 10 percent to a record $1.5 billion, coal revenues climbed 34 percent to a record $775 million, and intermodal revenues increased 11 percent to a record $532 million in the second quarter of 2008.

Railway operating expenses increased 16 percent to $2 billion for the second quarter compared with the same period of 2007, primarily due to higher fuel expense, which rose by $212 million, or 76 percent.

The railway operating ratio for the quarter was 71.1 percent, about even compared with second-quarter 2007.

Norfolk Southern Corporation is one of the nation's premier transportation companies. Its Norfolk Southern Railway subsidiary operates approximately 21,000 route miles in 22 states and the District of Columbia, serving every major container port in the eastern United States and providing superior connections to western rail carriers. Norfolk Southern operates the most extensive intermodal network in the East and is North America's largest rail carrier of metals and automotive products.

 

[blackpool]

Ciao a tutti. Sono andata a verificare personalmente. Il traffico specie sulla direttiva ovest - est e' intenso. Ecco una foto del terminal di Vancouver in cui finisce il regno di BNSF e inizia quello della mia preferita: Union Pacific.
Ho scattato la fotografia personalmente dopo di che sono entrata nel regno di Union Pacific adesso mi trovo a Los Angeles e nei prossimi giorni andro' a verificare anche lo stato della Norfolk, la preferita di nemo.
N.

 

[nemo17]

Splendido ! Grazie mille davvero ...

 

[nemo17]

Norfolk Southern Reports Record Third-Quarter 2008 Results



For third-quarter 2008 vs. third-quarter 2007:



· Railway operating revenues increased 23 percent to a record $2.9 billion.

· Income from operations increased 31 percent to a record $894 million.

· Net income increased 35 percent to a record $520 million.

· Diluted earnings per share rose 41 percent to a record $1.37.

· The railway operating ratio improved by 2 percentage points to a record 69.1 percent.

NORFOLK, VA. – Norfolk Southern Corporation (NYSE: NSC) reported third-quarter 2008 net income of $520 million, or $1.37 per diluted share, compared with $386 million, or $0.97 per diluted share, for the same period of 2007. Third-quarter income from railway operations increased 31 percent to a record $894 million.



“Our third quarter performance again demonstrates the strength of our diversified traffic base. We are also continuing to provide the high-quality service our customers require in this difficult economic environment,” said Norfolk Southern CEO Wick Moorman.



Third-quarter railway operating revenues were $2.9 billion, up 23 percent compared with the same period a year earlier. Continued weakness in the automotive and housing-related industries, mostly offset by strength in coal shipments, contributed to a one percent reduction in traffic volume compared with the third quarter of 2007.



General merchandise revenues were $1.5 billion, an increase of 13 percent compared with the same period last year, despite a 6 percent decline in volume.



Coal revenues climbed 52 percent to $876 million in the quarter compared with the same period of 2007. Traffic volume increased by 23,548 carloads, or 6 percent, and set a record for the number of tons shipped in a quarter.



Despite flat volumes, intermodal revenues were $560 million, up 16 percent compared with the same period of 2007.



Railway operating expenses were $2.0 billion for the quarter, a 20 percent increase compared with the third quarter of 2007.



The railway operating ratio for the quarter improved by 2 percentage points to a record 69.1 percent, compared with 71.1 percent in 2007.



Norfolk Southern Corporation is one of the nation’s premier transportation companies. Its Norfolk Southern Railway subsidiary operates approximately 21,000 route miles in 22 states and the District of Columbia , serving every major container port in the eastern United States and providing superior connections to western rail carriers. Norfolk Southern operates the most extensive intermodal network in the East and is North America ’s largest rail carrier of metals and automotive products.

 

[nemo17]

Buffett Buys $65.7M of Burlington Northern

Billionaire Warren Buffett's company has added 825,000 shares to its already sizable stake in Burlington Northern Santa Fe Corp., the nation's second-largest railroad. Berkshire Hathaway Inc. now owns 18.9 percent, or 64.6 million shares, of the Fort Worth, Texas, based railroad. Documents filed with the Securities and Exchange Commission Thursday show that Berkshire bought its latest BNSF shares Tuesday.

The latest filing says Berkshire paid $79.65 each for the BNSF shares. Berkshire officials do not typically comment on the Omaha company's stock holdings. Because the purchases have been made by Berkshire subsidiaries, it's not clear whether Buffett himself made the decision to buy.

 

[Seven Of Nine]

E' ora di rispolverare un po' questo magnifico thread!

Innanzi tutto volevo ringraziare il contributo degli utenti che lo hanno iniziato.

Recentemente ho fatto un lungo viaggio in treno per Milano e mi sono reso conto di quanto questo mezzo possa risultare efficiente in termini di costo/tempo. Poi certo in Italia il sistema è statalizzato e sappiamo quanti problemi ci sono, ma come fatto già presente in questo thread in paesi ci sono sistemi diversi e le compagnie non solo non bruciano 14 miliardi l'anno (Mr.Moretti un altro genio dell'imprenditoria come Mr.Scaroni e Mr.Conti ) ma possono creare valore.


Il 2011 è stato un anno record per le grandi compagnie ferroviarie USA più volte citate nel thread. Le società hanno creato molto valore per gli investitori sul medio-lungo periodo, uno degli ormai sporadici casi in cui il buy&hold ha funzionato alla grande.

Visto che questo thread è stato iniziato nel 2007 vi posto nell'immagine sotto il rendimento rispetto all'S&P 500. La migliore è stata Union Pacific che è l'unica ad aver rotto al rialzo i massimi del 2011.

Come potete vedere nella seconda immagine allegata infatti il settore ha sottoperformanto l'indice in questo primi 3 mesi e mezzo del 2012.
Il motivo è che il grande evento per il mercato energetico USA (lo shale gas e il conseguente tracollo del natural gas) che avuto un effetto indiretto anche sui treni. Il gas scende di prezzo, le utilities (anche spinte dalle nuove leggi) switchano da carbone a gas. I consumi di carbone sono in forte declino e questo ha un impatto sui trasporti, visto che il carbone è uno dei cargo più importanti per i treni merci. La sovraperformance di UNP rispetto nell'ultimo semestre è da imputare alla minore incidenza sul fatturato totale del trasporto di carbone.

Avranno gli analisti esagerato nel valutare l'impatto dei minori carichi di carbone? Oppure no? Lo scopriremo presto con le trimestrali Q1 che sono alle porte e che spero seguirete con me.
A mio modo di vedere sui livelli attuali le big usa non sono particolarmente sottovalutate (sempre tenendo conto dell'impatto dei carichi di carbone), ma la situazione merita di essere monitorata.

Oltre alle famose UNP, CSX, NSC è entrata nel mio mirino anche GSH (penso l'unica compagnia ferroviaria cinese quotata anche a Wall Street). Quest'ultimo titolo è nettamente a sconto verso gli altri per timori sul rallentamento dell'economia cinese, partecipazione statale e tutte le incertezze annesse ai titoli cinesi. Aspetto il Q1 anche di quella, i risultati annuali mi sono piaciuti

 

[nemo17]

Wow ...
Amarcord..
Cavolo... Berkshire verso la fine del thread quotava 150000 dollari... oggi 119000...
Bsfn è inglobata... e continua ad andare bene..penso che Buffett abbia fatto un ottimo affare ad acquisirla.

 

[blackpool]

Wow ...
Amarcord..
Cavolo... Berkshire verso la fine del thread quotava 150000 dollari... oggi 119000...
Bsfn è inglobata... e continua ad andare bene..penso che Buffett abbia fatto un ottimo affare ad acquisirla.

BNSF è la più coinvolta con il carbone "ecologico" del Powder River Basin poi viene Union Pacific. Anche io investo parecchio sulle ferrovie e ci credo ancora molto. Certo il carbone è il loro pane quotidiano mentre petrolio e gas viaggiano quasi esclusivamente via tubo. Io le ho tutte compreso Kansas City Southern forte sull'asse nord - sud dal Canada al Messico. Non conosco bene e non ho in portafoglio la cinese

 

[blackpool]

Ecco la mappa ....

 

[Aerodynamik]

 

[nemo17]

Penso che valga di più questo video di tante parole..

 

[Seven Of Nine]

CSX sarà la prima a riportare gli earnings Q1, dati trimestrali in uscita martedì 17 aprile dopo il close!

Se li fanno scendere un po' sti titoli nella correzione non mi dispiacerebbe anche se la cinese secondo me rimane la più attraente a livello valutativo

 

[blackpool]

Ultimamente l'operating ratio (spese / ricavi) da sempre il parametro di riferimento per l'efficienza della ferrovia si è magicamente allineato per quasi tutte le compagnie. Notate la storica maggiore efficienza della Canadian National. Io la tengo in portafoglio per questo e altri motivi non ultimo il fatto che è esposta sulla potassa legata all'agricoltura (fertilizzanti) e non solo all'industria. Canadian è forte anche nel legname (edilizia, costruzioni)
N.

 

[blackpool]

ed ecco la tabella con tutti i principali parametri delle ferrovie....si si lo so eccetto la "cinese" che l'ho scritto non seguo e non conosco ma forse dovrei iniziare a farlo.

 

[Seven Of Nine]

Questa è la mia

Edit: Corretto errore su CSX che è stata aggiornata con la nuova trimestrale Q1 2012

 

[blackpool]

Questa è la mia

Grazie, c'è anche GSH!
Nella mia dall'alto verso il basso sono in ordine di preferenza (mia personale); anche nella tua?
N.

 

[Seven Of Nine]

No la mia è in ordine alfabetico... nelle preferenze propendo per UNP fra le nordamericane perchè dalle ricerche che ho fatto mi è sembrata la meno dipendente dai carichi di carbone insieme a CNI.

Ma CNI ha qualche problemino con la gestione dei fondi pensione come puoi notare nel comprehensive income statements a pag.52 del loro ultimo annual report -> CN - Financial / Regulatory Reports - Annual Report

Di GSH sono entusiasta dal punto di vista valutativo, ma va considerato che rispetto alle cugine nordamericane presenta tutta una serie di rischi in più, non ultimo il quale diventare socio del ministero dei trasporti cinese, nonchè possibilità di investimento solo indirettamente tramite ADR.
Ovviamente non ci sono rischi ma anche opportunità considerando lo sviluppo demografico e l'urbanizzazione nella regione dove opera GSH che dovrebbe essere fra le più ricche del paese.

Prima di iniziarci un investimento però mi piacerebbe vedere come se la sono cavata nel primo trimestre 2012. Se tutto va bene i risultati dovrebbero uscire entro fine mese.