CHICAGO, July 15 (Reuters) – SX Corp, the No. 3 U.S.
railroad, said it expects earnings per share to be flat in the
third quarter compared with the same period last year, despite
an expected drop in coal freight volumes of 15 percent.
Like all the major railroads, CSX has experienced a sharp
drop in coal shipment this year as power plants have shifted to
burning cheaper natural gas. Coal exports have also been hurt by
the strong U.S. dollar.
CHICAGO (Reuters) – No. 3 U.S. railroad CSX Corp (CSX.N: Quote, Profile, Research, Stock Buzz) on Tuesday reported a higher quarterly net profit, beating forecasts as productivity gains and lower fuel prices offset a drop in coal volumes that took a bite out of revenue.
CSX shares jumped more than 3 percent in after-market trading, as the company also largely maintained its earnings outlook for the year despite the hit to its coal business.
CHICAGO/TORONTO (Reuters) – North American railroads are pinning their hopes for a second-half recovery on American shoppers as they prepare to release what analysts expect will be dreary second-quarter results.
No. 3 U.S. railroad CSX Corp (CSX.N: Quote, Profile, Research, Stock Buzz) kicks off earnings season for the railroads after the market closes Tuesday. Analysts are forecasting CSX will report 53 cents per share, unchanged from the second quarter of 2014. Earlier this year, CSX told investors it expected double-digit percentage earnings growth this year, then in April told shareholders to expect single-digit percentage growth.
, (Reuters) – Detroit Quality Brushes is a company that does just what its name suggests: It makes high quality brushes in Detroit.
Years ago, the company had 18 competitors in the United States. Today, there are only three left, says John Avgoustis, head of marketing and sales.
July 10 (Reuters) – BENTONVILLE, Ark., July 10 (Reuters)
- Detroit Quality Brushes is a company that does just what its
name suggests: It makes high quality brushes in Detroit.
Years ago, the company had 18 competitors in the United
States. Today, there are only three left, says John Avgoustis,
head of marketing and sales.
CHICAGO (Reuters) – U.S. environmental regulators are expected within days to propose rules to make trucks more fuel efficient, and trucking industry executives and lobbyists familiar with the process said the rules will probably call for boosting fuel efficiency by 2027 nearly 40 percent from 2010 levels.
Truckers say the industry is willing to accept tighter federal standards, since motor fuel accounts for about a third of its costs. Truckers also want consistent standards throughout the country instead of a separate state rule in California.
CHICAGO (Reuters) – U.S. chief executive officers have become a bit more pessimistic in their outlook for the American economy in 2015 and fewer of them expect to increase sales, investment and hiring this year, a quarterly business group survey said on Monday.
The Business Roundtable’s second-quarter survey, conducted before U.S. gross domestic product for the first quarter was revised down last month to show an annualized 0.7 percent contraction, found that CEOs expect 2.5 percent GDP growth this year.
CHICAGO, June 4 (Reuters) – Metals company Alcoa Inc
said on Thursday it is supplying aerospace-grade aluminum to
Samsung Electronics Co Ltd for its Galaxy S6 and S6
edge models, enabling the smartphone maker to produce more
durable and sleeker phones.
Phones made with 6013 Alcoa Power Plate, which is 70 percent
stronger than standard aluminum are available now globally,
CHICAGO/WASHINGTON, June 3 (Reuters) – U.S. steel companies
on Wednesday filed a complaint with the U.S. government over
cheaper imports of corrosion-resistant steel from China, India,
Italy, South Korea and Taiwan, kicking off a process that could
end in import duties.
The companies alleged steel producers in the five countries
benefited from a wide range of subsidies not available to their
American counterparts. The firms have identified 48 different
subsidy programs in China, 88 in India, 12 in Italy, 43 in Korea
and 22 in Taiwan.
CHICAGO, June 1 (Reuters) – Oil railcar makers hoping for a
lasting boost in demand from tougher North American safety
standards may be in for a disappointment.
Factors including volatile oil prices and a loophole
allowing shippers to keep running older cars could leave rail
car makers like Trinity Industries Inc and Greenbrier Co
with a capacity glut, once initial orders for cars that
comply with tougher safety rules are filled, analysts and
industry officials said.