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The long-delayed project is slated to renovate and modernize the station; increase concourse capacity and access; enable safer and more efficient operations; accommodate passenger service growth; and deliver what USDOT said will be a “world-class experience” for users. In Fiscal Year 2024, PSNY welcomed more than 12 million people—nearly 18% of total Amtrak ridership and nearly 45% of Northeast Corridor ridership. It supports more than 1,000 daily train movements between Amtrak, New Jersey Transit, and MTA Long Island Rail Road across 21 tracks.

In partnership with Amtrak, USDOT reported releasing the solicitation for the project’s master developer, inviting interested parties to submit their Letters of Interest through Amtrak’s Procurement Portal; selecting Public-Private Partnership (P3) advisors Hunton Andrews Kurth LLP (legal) and KPMG (financial) and environmental consultant AKRF to help structure the project approach and agreements; and initiating the project’s Service Optimization Study to explore ways to accommodate passenger service growth at PSNY and the surrounding region.

“The advisors will help transform the busiest train station in the Western Hemisphere into a world-class transit hub, elevating the experience for Americans and visitors alike,” USDOT said. “They will also support in shaping a P3 strategy to attract private investment, streamline approvals, and evaluate innovative solutions. By identifying funding opportunities, maximizing revenue potential, and proactively managing risks, the advisors will help ensure this critical infrastructure project stays on schedule [and] under budget.”

“This will be one of the biggest and most significant construction projects in U.S. history, and we want the most skilled and knowledgeable partners to help make it a success,” said Special Advisor to the Amtrak Board Andy Byford, who discussed the project at the recently concluded Next-Gen Rail Systems conference, the communications, signaling and advanced technology conference presented by Railway Age in Jersey City, N.J. “By working with the private sector, we will be working with advisors who focus on the project’s goals while minimizing costs for taxpayers.”

In April, USDOT announced that it, along with Amtrak, would take control of the Penn Station overhaul from the New York Metropolitan Transportation Authority (MTA), which had estimated the project cost at $7 billion; as part of that announcement, USDOT withdrew $72 million in grant funding. In August, USDOT and Amtrak announced the project’s schedule and a $43 million federal grant to jumpstart the work, supporting project development and the solicitation of a master developer, as well as permitting and preliminary engineering work.

Meanwhile, the $2.9 billion Penn Station Access Project launch will be delayed until 2030 at the earliest, according to media reports.

The project is slated to extend MTA Metro-North Railroad‘s New Haven Line to Penn Station, creating four new accessible stations in the Bronx, improving existing tracks and bridges, and cutting travel times from the Bronx to Manhattan by as much as 50 minutes.

“The MTA commissioned an independent review that put the blame for the delay squarely on Amtrak,” Spectrum News NY1 reported Oct. 27. “‘It started with being unable to take tracks out of service, outages,’ said Jamie Torres-Springer, president of MTA Construction and Development [in a presentation to the MTA Capital Plan Committee]. ‘We weren’t getting those. Then they were able to start giving us… those some of those outages. But their support staff, who need to oversee the work happening, didn’t show up. And so the outages were wasted.’ According to the contract, Amtrak was to provide a minimum of 30 service outages a year. The MTA says there were only seven in the first two years. And while Amtrak is improving, it’s too late.”

Amtrak in a Oct. 28 statement said: “Amtrak has invested over $140 million and significant staff resources on the Penn Station Access (PSA) project. We remain committed to this critical project, and being good stewards of taxpayer investment for Amtrak, MTA customers, New York residents, and travelers. Specific to minimizing delays and expediting the project’s completion, Amtrak is collaborating with the MTA on numerous mitigation strategies, including:
“• Providing more 55-hr outages as well as three long-term track outages, covering both weekdays and weekends, to give the MTA’s contractor additional time to be more efficient to perform work without having to clear the track for train operations;
“• Expanding the Amtrak workforce to provide 190% of the committed amount to provide protection where needed;
“• Changing Amtrak rules for worker protection to allow more work to be done for the MTA and its contractor;
“• Modifying and lengthening schedules of, and in some cases temporarily suspending Amtrak trains to allow more work to be done safely; and
“• Taking over a portion of the work that was originally to have been performed by the MTA’s contractor.

“In addition, MTA did not make Amtrak aware of the ‘Independent Review Consultant’ nor involve us in their analysis.”

• Byford Pushes PSNY as Duffy Trashes Congestion Toll
• ‘Train Daddy’ Returns to New York
• Eighth of a Series: Penn Station and Grand Central, Perfect Together?
• Seventh of a Series: No New Manhattan Destination. Changes at Penn Station?

The post PSNY Project Meets ‘Key’ Milestones appeared first on Railway Age.

MTA on Oct. 31 said that the $1.507 billion contract will be funded by its $68 billion 2025-2029 Capital Plan.

Kawasaki will start delivering the R268s in fall 2028 and wrap up by 2030. MTA said this will allow it to retire the last R68 and R68A cars, which entered service in the mid-1980s and currently serve the B, N, D, Q, W, and S(f) lines, and to transition the “B” division to “an all modern-technology fleet, with all cars capable of delivering CBTC [communications-based train control] service.” The new cars will feature pre-installed security cameras in every car, more accessible seating, brighter lights and clearer signage, the agency said.

“This purchase allows us to replace cars at the end of their useful life before they start breaking down,” MTA Chair and CEO Janno Lieber said. “And by building on the successful procurement of R211 railcars, we were able to save money on nearly 400 modern subway cars.” 

The first trainset of Kawasaki-built R211A/S (traditional closed-end) cars to operate on the B Line entered service in July. They are now operating in all five boroughs. The R211s feature 58-inch-wide door openings that are eight inches wider than standard door openings on existing cars, which MTA has said will help speed boarding and reduce the amount of time trains sit in stations. These models include security cameras, additional accessible seating, digital displays that will provide more detailed station-specific information, and brighter lighting and signage, among other features that are said to improve the rider experience.  Open-gangway cars (R211T) began operating on the G line in March and the C line in February 2024.

In January 2018, the MTA awarded a contract to Kawasaki to design, build, and deliver 535 rapid transit cars, comprising 440 R211As and 20 R211Ts for NYCT, and 75 R211S cars for Staten Island Railway that are in operation. The contract included two options: Option 1 for 640 cars, and Option 2, for 333-437 cars. In October 2022, the agency exercised Option 1 for 640 R211s for $1.78 billion. MTA in December 2024 exercised Option 2 for 435 additional R211s—355 R211A/S cars and 80 R211T cars. The option, valued at $1.27 billion, brought the total number of R211s ordered to 1,610. MTA began phasing into service the first two R211T trainsets in 2024.

“The R268 contract will not only secure employment for hundreds of workers in our Yonkers facility, but also delivers state-of-the-art, high-quality subway cars to NYC riders, “ Kawasaki Rail Car, Inc. President Yusuke Hirose said. “With this milestone, we will surpass over 4,000 cars produced for New York City Transit—and we’re excited to continue building for the city’s future.”

Separately, MTA on June 23 announced that its Finance Committee approved the purchase of 316 Alstom Transportation-built M-9As. This included 160 cars for Long Island Rail Road and 156 for Metro-North Railroad.

The post Kawasaki to Supply 378 More ‘B’ Division Cars to NYCT appeared first on Railway Age.

Keolis Commuter Services (Keolis), the Massachusetts Bay Transportation Authority’s (MBTA) operations and maintenance partner for the Commuter Rail, announced Oct. 31 that it has reached a tentative agreement with the International Brotherhood of Electrical Workers (IBEW) union representing electricians.

The agreement, pending ratification by union members, will be retroactive to July 1, 2023, when the contract first became amendable. Keolis has now reached updated agreements with all 14 Commuter Rail unions, representing more than 2,000 members of the Commuter Rail workforce.

Among other provisions, the five-year agreement includes paid sick leave, annual wage increases, unmatched health benefits, enhancements to the bereavement and vacation policy, and one additional paid holiday.

“The Commuter rail is a great place to build a career, with competitive wages, and some of best benefits you can find,” said Keolis CEO and General Manager John Killeen. “I want to thank our partners at all 14 unions for their hard work. We are proud of these agreements and the quality of life that they continue to guarantee for our workforce.”

The post Keolis, IBEW Reach Tentative Agreement appeared first on Railway Age.

With deep expertise in derailment investigations, rail operations, failure analysis, and rail technology across both freight and passenger systems, Dick brings practical experience and technical leadership that enhances ESi’s expanding rail capabilities. 

Over his 25-year career of diverse rail industry experience, Dick has performed derailment, collision, and fatality incident investigations, and has worked with the Federal Railroad Association (FRA), National Transportation Safety Board (NTSB), and Transportation Safety Board of Canada (TSB). Additionally, he served as an onsite subject matter expert during the 2008 Chatsworth Collision NTSB investigation, the largest U.S. railway accident in the last 30 years which triggered the implementation of Positive Train Control (PTC).

Dick recently served as Vice President of Strategy and Business Development at ENSCO Inc. His contributions to technology driven railway safety includes leading the delivery of North America’s first Autonomous Track Geometry Measurement System (ATGMS) and deployment of the V/TI Clusters Artificial Intelligence algorithm, which both have significantly reduced track-caused derailments. 

Dick has served in various industry leadership roles including as Chair of the American Society of Mechanical Engineers (ASME) Rail Transportation Division and served as Chair of AREMA Committee 2 – Track Measurement and Assessment Systems. In 2024, he was honored as one of Railway Age Readers’ Influential Leaders as an honorable mention awardee.

Dick holds 11 patents for automated railway inspection technologies and has been prolific sharing knowledge through technical publications, conference presentations, and industry magazine articles.

Will Pinkston, president of ESi, said “We’re incredibly excited to welcome Matt [Dick] to ESi as head of rail strategy and development. Matt brings a rare combination of technical depth, industry leadership and strategic vision. His arrival marks a pivotal moment in our growth, and I look forward to partnering with him as we expand our capabilities and deepen our impact in the rail sector.”

Matt Dick said, “I’ve long admired ESi’s commitment to its customers’ needs utilizing the world’s best experts. I’m honored to join this incredible team and excited to build on its strong foundation in the rail industry to accelerate growth, deepen impact and deliver value to our customers.”

The post Matthew Dick, PE, Appointed to Head of Rail Strategy and Development at ESi as Company Expands Market Presence appeared first on Railway Age.

WATCHING WASHINGTON, NOVEMBER 2025 ISSUE: Perhaps the gutsiest-ever regulatory agency decision was the Surface Transportation Board’s (STB) 2001 imposition of a railroad merger moratorium. Its architect was then-STB Chairperson Linda J. Morgan. 

Widely anticipated to fail judicial review, a federal appellate court ruled the STB—with sole statutory authority to approve rail mergers—also had power to post a 15-month stop sign “to realize broader statutory objectives.” Morgan’s disquiet? All had not gone well after the agency acted with vigor in approving numerous Class I unifications during the 1990s. 

High-profile service failures followed the 1995 Burlington Northern-Atchison, Topeka & Santa Fe merger to form BNSF; the 1997 Union Pacific (UP)-Southern Pacific marriage; and the 1998 CSX-Norfolk Southern (NS) acquisition of Conrail. 

“I cannot in good conscience allow further [mergers] to occur that I believe would run the risk of creating more disruption and instability,” Morgan said in defending the moratorium to develop new merger rules. 

Those “new” rules remain untested 24 years later, as the sole Class I unification since—Kansas City Southern (KCS) and Canadian Pacific (CP) to form Canadian Pacific Kansas City (CPKC) in 2023—was evaluated under different rules owing to KCS’s relatively small size. CPKC also suffered post-merger service hiccups. 

Time and circumstances may justify a second merger timeout to reevaluate the long-dormant rules ahead of accepting a UP-NS merger application to create the nation’s first transcontinental railroad, which might beget yet a second (BNSF-CSX). As the UP-NS merger agreement is effective until Jan. 28, 2028—and allows further time for slippage—a timeout for merger rules reevaluation is doable. POTUS Executive Orders, which otherwise freeze new rulemakings, allow them if the issue is competition. 

The rail industry today is materially different than in 2001—valid cause for long-dormant merger rules to be reevaluated and rewritten without ambiguity. Such betterment will assist applicants in making their case more effectively; permit stakeholders to tailor their concerns more narrowly; and create for regulators a more transparent checklist by which to evaluate mergers.

To be more clearly defined are “pro-competitive”; “downstream effects”; “common carrier obligation”; “public interest”; and how competitive “balance” is preserved absent a second transcontinental marriage. Remarkably, NS told the STB in 2000 that requiring competitive enhancements is “apparent antagonism toward mergers.” 

Merger applicants should be required to demonstrate, with specificity, the merger’s likely harm, as well as benefits, to small railroads, communities and modal competition; how they intend to attract on their lines new factories and warehouses as domestic manufacturing is revived; and how they will poach market share from non-union truckers, given rail volumes were stagnant following the 1990s merger wave. The STB might also consider regulatory incentives to counter Class I asset, headcount and service cuts that improve short-term profits at the expense of rail market share. 

To assure confidence in the merger review process, there must be clear understanding of regulatory tools available to repair post-merger service failures, preserve major gateways (points allowing traffic interchange with other railroads), and to police rate increases by revenue adequate railroads. Shippers should know how their rate reasonableness challenges will be handled post-merger, and if reciprocal switching can be made an effective pro-competitive remedy, especially absent a third rail competitor. 

Regrettably, STB’s diamond reputation for decisional independence is at risk courtesy of UP CEO Jim Vena’s Sept. 9 White House visit. Following POTUS 47’s earlier firing of STB merger skeptic Robert E. Primus (in court over its legality), and his post-Vena-meeting merger-support shoutout, UP made a bad-optics contribution to POTUS 47’s $300 million White House ballroom. Erecting a temporary merger stop sign to revise, strengthen, clarify and make more transparent 24-year-old merger rules ahead of considering a UP-NS merger application may also be the STB’s best image-preserving mop-up option to this unfortunate doo-doo dump.

Railway Age Capitol Hill Contributing Editor Frank N. Wilner was assistant vice president, policy, at the Association of American Railroads and a White House appointed chief of staff to Republican STB member Gus Owen, who voted in favor of the 1997 UP-SP merger. He is author of “Railroads & Economic Regulation,” available from Simmons-Boardman Books, www.railwayeducationalbureau.com/product/railroads-economic-regulation-an-insiders-account/, 800-228-9670.

The post Why Not a Merger Timeout? appeared first on Railway Age.

Francis Patrick (Frank) Mulvey, a Democrat who served on the Surface Transportation Board (STB) from May 2004 to December 2013, died Oct. 18 at 81.

Among just six Ph.D. economists (of 117 members) to serve on the 138-year-old STB and its Interstate Commerce Commission predecessor, Mulvey was a career-long student of freight and passenger railroads. His half-century impact on rail transportation policy was substantial.

Nominated and renominated by Republican President George W. Bush to his twice Senate-confirmed STB post, Mulvey previously distinguished himself in high-level transportation-focused positions at the General Accountability Office, Department of Transportation and House Transportation and Infrastructure Committee.

Mulvey prepared for his transportation career with degrees from New York University and the University of California at Berkeley. He earned his Ph.D. in transportation economics in 1974 from Washington State University where his doctoral dissertation was entitled, “The Economic Future of Amtrak.” Post-doctoral research papers included, “The Northeast Corridor High Speed Rail System,” “Amtrak: An Experiment in Rail Service,” “Amtrak: A Cost-Effective Approach,” “Amtrak Versus Intercity Bus,” and “Amtrak: The First Decade.”

Mulvey’s interest in Amtrak never waned. When House Transportation and Infrastructure (T&I) Committee Chairperson James Oberstar (D-MN) suggested during a 2000 informal discussion that a larger civilian version of the military’s 24-passenger vertical take-off-and-landing aircraft (the V-22 Osprey) might compete effectively with Amtrak on short-haul routes, Mulvey, then an Oberstar aide, feigned surprise but didn’t deny agreement. In 2010, Mulvey sparred with Amtrak President Joseph H. Boardman, saying he preferred riding a “more customer-friendly” bus between Washington, D.C., and his native New York City.

Following completion of his doctoral studies in 1974, Mulvey taught undergraduate economics courses at Bowling Green State University, Wheaton (Mass.) College, Northeastern University and the University of Maryland.

Helping to pay his college tuition, supplement his educational scholarships and increase stingy college instructor wages, Mulvey drove taxi cabs in San Francisco and Boston and worked as a claims adjuster for two insurance companies. Unpretentious to the end, he was simply a regular guy with a blue-collar lunch-pail work ethic, no matter the task. He was born May 5, 1944, in working-class Astoria (borough of Queens) New York.

Mulvey’s interest in, and aptitude for, public policy formulation, review and repair took a propitious turn in 1978 with congressional creation of the National Transportation Policy Study Commission (NTPSC), which recommended liberalizing freight-rail economic regulation and imposing full-recovery user charges on rail modal competitors. Mulvey served as economics consultant to the NTPSC, whose members included relatively new lawmakers Oberstar and Bud Shuster (R-PA), both of whom rose to chair the T&I Committee. (NTPSC general counsel was future Association of American Railroads President Edward R Hamberger.)

From 1985 to 1999, Mulvey served as assistant director of the non-partisan congressional watchdog U.S. General Accountability Office. Among his accomplishments was lead writer of a 10-year assessment of partial railroad economic regulation (the 1980 Staggers Rail Act), concluding that “the law’s freedoms enabled railroads to become more competitive and more responsive to the marketplace.”

In 1999, Mulvey was appointed Deputy Assistant Inspector General for Rail and Transit at the Department of Transportation. T&I Chairperson Oberstar hired Mulvey in 2000 as the Rail Subcommittee’s Democratic staff director. He departed in 2004 for the STB.

A year into his STB post—the 25th anniversary of the Staggers Rail Act—Mulvey disagreed with then-STB Chairperson Roger Nober, who proposed the agency itself critique how it determines railroad revenue adequacy. Mulvey preferred the task go instead to the National Academies of Sciences Transportation Research Board (TRB). “Having the STB perform the analysis is like having the guy who builds your house come in and do the inspection on completion,” Mulvey said.

The TRB subsequently concluded the STB’s annual revenue adequacy determination “serves no constructive purpose,” and “its persistence prolongs the misguided view that a single yes/no indicator of railroad profitability should be used to regulate rates.” In 2015, TRB suggested, as an alternative to annual revenue adequacy determinations, a periodic assessment of industrywide economic and competitive conditions—a suggestion the STB has not adopted.

Mulvey’s peak achievement was in defense of the STB’s decisional independence. When Senate Majority Whip Dick Durbin (D-IL) requested a private meeting to discuss a pending STB matter in 2008—interpreted as political pressure—Mulvey declined.

Serving his second term, Mulvey was ripe to be named permanent STB chairperson following the January 2009 inauguration of Democratic President Barack Obama (by tradition, in place of President George W. Bush’s Republican choice of Charles D. Nottingham, who would remain on the Board). Instead, Obama waited until August to name as permanent chairperson newly confirmed STB member and Democrat Daniel R. Elliott III. Mulvey’s defending the STB’s independence by snubbing Durbin may have cost him the permanent chair, as Durbin was understood to exert considerable influence over fellow Illinoisan Obama’s picks below Cabinet level.

Following retirement from the STB, Mulvey provided consulting services to Norfolk Southern. In 2020, he co-authored, with rail shipper attorney Michal F. McBride, “Railroads’ Common Carrier Obligation”—an analysis, with recommendations, published in the Journal of Transportation Law, Logistics and Policy.

In a Nov. 2 Washington Post published obituary, family members recalled Mulvey as “a fast talker with a quick wit and an endless appetite for learning.”

Former STB Chairperson and Republican Ann D. Begeman, who served with Democrat Mulvey on the STB, told Railway Age:

“I had the pleasure of knowing Frank since he served in a key transportation policy position at the GAO and I was a Senate Commerce Committee staff member. Frank volunteered to swear me in [at the STB], which I will never forget, in part because he read the entire script without pause, leaving me frantically trying to recall and repeat each word he had just read.

“Frank was a proud intellect and anyone who met him quickly came to appreciate his expertise and strong will in sharing his convictions. You might come to regret trying to discuss with him whether interchange commitments were paper barriers.

“What I appreciated most during my service with Frank was his ability to recognize gifted staffers and help mentor them. Today, one of those staffers is STB’s general counsel, and another moved to a top career position at the Federal Railroad Administration.

“His love for his wife Petra was shown each and every time he talked of her, as was his love for his family. He helped to remind people that it is possible to work hard and fulfill your role while also caring about the people around you. And it’s the latter that will matter the most upon reflection,” Begeman said.  

John J. Brennan, who was Republican staff director of the House Rail Subcommittee for a time while Mulvey was the Democratic staff director, described Mulvey as “a learned adversary, but never an enemy. We engaged in many spirited discussions but never had an acrimonious word. His sharp mind helped make legislation stronger, and more likely to pass. He understood that arguments are best won though intellectual persuasion. He was a throwback to a less polarized, more civil time,” Brennan told Railway Age.

Elliott said of his fellow Democratic board member, “Frank was an absolute pleasure to work with at the Board. His broad knowledge about economics were a great help and his insights during Rail-Shipper Transportation Advisory Council meetings were invaluable.” 

William H. Huneke, who served as STB chief economist during the years that fellow-Ph.D. Mulvey was at the agency, recalled admiringly, “Frank insisted that the STB hire more economists. It was always a pleasure to work with him.”

Mulvey is survived by his wife of 51 years, Petra; son, Conor; daughter-in-law, Tanya; and granddaughter, Daria.

A memorial gathering honoring Mulvey will be held Dec. 13 at 11 a.m. at Joseph Gawler and Sons, 5130 Wisconsin Ave. NW, Washington, D.C.

The post Former STB Member Frank Mulvey, 81 appeared first on Railway Age.

RAILWAY AGE, OCTOBER 2025 ISSUE: Michigan State University’s Center for Railway Research and Education, housed at the Broad College of Business, marked a major milestone in 2025 as it convened its 20th iteration of the Railway Management Certificate Program (RMCP). Established in 2007, RMCP has become the gold standard for rail leadership development, thanks to the support from industry visionary Ed A. Burkhardt. This year’s cohort is the largest ever, featuring 41 mid- and senior-level professionals from 27 freight and passenger rail organizations spanning 19 U.S. states and Mexico.

The program’s steady growth reflects the rail industry’s appetite for specialized education that marries academic rigor with real-world immersion. During the past two decades, more than 300 alumni have graduated from RMCP, advancing into executive and technical leadership roles across the industry. Participants praise RMCP for its deep dive into the complex ecosystem of rail, its unmatched networking opportunities, and its ability to catalyze career breakthroughs.

RMCP is structured into four intensive week-long modules, each delivered in multiple locations to give participants hands-on exposure to the spectrum of rail operations, regulation, technology, and strategy. Every year, MSU refines the content to reflect emerging trends and partner with new industry leaders.

Module 1, “Railway Business Administration, Strategy, and Leadership,” lays the foundation with an immersive experience on MSU’s East Lansing campus. Participants engage with top faculty from MSU’s nationally ranked Supply Chain Management department, exploring marketing, strategic decision-making, strategy, negotiation and organizational leadership. In-class case studies put students in the driver’s seat of board-level challenges, evaluating pricing strategies, and operational trade-offs that define today’s rail networks.

Module 2, “Railway Regulation, Safety, and the Rail Industry,” moves to the nation’s capital and the New Jersey/New York harbor region. In Washington, D.C., senior leaders from federal agencies, Senate Commerce Committee staff, advocacy organizations and a Class I railroad participate in classroom discussions on rulemaking, compliance, accident investigations, and the evolving regulatory landscape. An overview by the national passenger rail corporation, along with a site visit to a major commuter rail headquarters, provides insight into coordinating passenger services across complex national and metropolitan corridors. In Newark, participants tour port facilities and an intermodal terminal to explore how rail integrates with maritime and trucking networks to move international freight efficiently.

Module 3, “Railway Technology, Research, and Development,” transports the cohort to Fort Worth, Tex., and Pueblo, Colo.—two hubs of rail operations, advanced manufacturing and innovation. In Fort Worth, the participants have a chance to see next-generation initiatives in network optimization, predictive maintenance, and digital signaling. Pueblo opens doors for deep dives into material science, full-scale testing of equipment and track components, and breakthroughs in alternative fuels and automated operations. A visit to a leading steel making facility underscores the rail maintenance side of innovation.

Module 4, “Railway Operations,” commences in Indianapolis and continues in Chicago—areas central to North America’s rail network. Indianapolis hosts tours of a major locomotive manufacturer and a passenger-equipment maintenance facility, illustrating the lifecycle of rolling stock from assembly to overhaul. In Chicago, the world’s busiest rail hub, experts in dispatching, terminal operations, traffic management and commuter rail guide participants through real-time decision support systems and data-driven scheduling practices that keep thousands of cars and locomotives moving smoothly across the network.

With the silver anniversary of RMCP, CRRE is already laying groundwork for next year’s cohort. The core four-module framework remains, but participants can expect deeper integration of strategic business tools, sustainability practices, and cross-modal insights. Highlights of the 2026 program:

• Module 1: Railway Business Administration, Strategy, and Leadership. April 27-May 1, MSU Campus, East Lansing, Mich.
• Module 2: Railway Regulation, Safety, and the Rail Industry. June 15-19, Washington, D.C., and Newark, N.J.
• Module 3:Railway Technology, Research, and Development. Sept. 28-Oct. 2, Fort Worth and Pueblo, Colo.
• Module 4: Railway Operations. Nov. 2-6, Indianapolis and Chicago.

Registration for RMCP 2026 is now open. Early-bird tuition and detailed curriculum information are available at raileducation.com. Prospective applicants are encouraged to secure their spot early, as demand continues to exceed available seats.

As the rail industry responds to economic shifts, technological innovation, and sustainability imperatives, the demand for knowledgeable, agile leadership has never been greater. MSU’s RMCP offers a distinctive blend of academic rigor, peer engagement, and immersive site-based learning, equipping professionals to lead with vision and operational excellence. Whether your focus is strategic planning, regulatory compliance, customer service and operations, or technology deployment, RMCP provides the insights, capabilities, and connections to advance your career and shape the future of rail.

For more information on RMCP 2025 outcomes or to inquire about RMCP 2026 enrollment, contact the CRRE team at kucheren@msu.edu or call (517) 353-5667. Visit raileducation.com to download the full program brochure and discover how MSU is redefining rail leadership education in its 20th anniversary and beyond. 

The post MSU RMCP Marks 20 Years appeared first on Railway Age.

Railroads are built on tradition, but they run on innovation. As infrastructure demands grow and timber supplies tighten, the industry is looking for smarter ways to maintain track integrity without overhauling entire systems. Enter the Keyway Tie, a concrete crosstie designed to behave like wood, reshaping how railroads think about track upgrades.

Developed by voestalpine Railway Systems Nortrak, the Keyway Tie blends the structural advantages of concrete with the flexibility and interchangeability of timber. It is not just a new tie; it is a new way of thinking about track evolution.

Concrete ties have long been recognized for their durability and gauge-holding strength. Yet more than 90% of North American track is still built with wood ties, largely due to their ease of installation and compatibility with existing maintenance equipment. However, timber ties have become increasingly expensive, with inconsistent quality and a growing vulnerability to decay, especially in high-tonnage corridors where gauge failure can lead to derailments.

The Keyway Tie offers a middle path. Engineered to match the track stiffness of timber while delivering the longevity of concrete, it can be interspersed with wood ties using standard maintenance-of-way equipment. This approach allows railroads to upgrade incrementally, minimizing disruption and avoiding the high costs of full-scale conversion.

What sets the Keyway Tie apart is its recessed keyway rail seat and interlocking resilient tie plate design, which allows the Keyway Tie to absorb and distribute loads with less impact on the ballast and subgrade materials. The geometry of the tie with its scalloped design enhances interlock with the ballast and improves lateral and longitudinal resistance, helping the track maintain alignment under heavy traffic. Its fastening system also allows for gauge adjustability up to ±0.4 inches, meaning it can be placed directly into existing track without requiring gauge correction.

According to “Digging into Cause Codes for Track-Related Derailments” published in the August 2025 issue of Railway Track & Structures (RT&S), wide gauge accounts for approximately 25% of track-related derailments in North America. Fortunately, this trend has been declining thanks to infrastructure upgrades that include concrete ties, larger tie plates, and elastic fasteners, all of which are integrated into the Keyway Tie. By combining these elements into a single, adaptable solution, the Keyway Tie directly addresses one of the most persistent causes of derailments, reinforcing its value not just in durability, but in safety performance as well.

Beyond safety, the Keyway Tie also delivers engineering advantages in some of the most challenging areas of track design: transition zones. Recent research and field trials have demonstrated the Keyway Tie’s effectiveness in bridging track stiffness transition zones, where differences between fixed structures or concrete tie and timber tie track stiffness often lead to high impacts and accelerated degradation. By tuning the resilient components of the Keyway Tie, engineers have created a tie with intermediate stiffness that reduces overload on adjacent components and mitigates ballast degradation. Field installations on Class-1 heavy haul corridors have shown positive results, including reduced plate cutting, improved ballast stability, and elimination of mud holes validating the Keyway Tie as a practical solution for challenging transition areas.

In addition to these findings, trials on Class-1 railroad segments have compared full concrete replacement with interspersed Keyway installations. Early results suggest that the latter approach offers comparable performance with significantly reduced installation time and cost. This presents an attractive option for railroads balancing capital constraints with operational demands.

While the upfront cost of the Keyway Tie may exceed that of traditional timber ties, its value becomes clearer over time. With reduced maintenance cycles, improved gauge retention, and longer service life, the Keyway Tie offers a compelling case for lower total cost of ownership. Notably, its robust design and load-sharing characteristics can also extend the life of adjacent wood ties when interspersed, further amplifying its cost-effectiveness. By matching wood tie track modulus and reducing ballast pressure compared to standard concrete tie track, the Keyway Tie is engineered for both flexibility and durability, making it a strategic investment that prioritizes long-term reliability over short-term savings.

The Keyway Tie has already proven its versatility across heavy haul, commuter rail, and light rail applications. Guard rail and transition tie options are also available, making it adaptable to a wide range of track configurations. Its compatibility with timber tie infrastructure makes it especially valuable for networks seeking to extend the life of existing assets while improving safety and reliability.

voestalpine Railway Systems Nortrak offers comprehensive, in-house design and manufacturing of 100% Buy America compliant railway systems solutions. The product portfolio includes special trackwork, switch machines, monitoring systems, premium rail, concrete ties, direct fixation fasteners, resilient clips, pads and insulators. The Keyway Concrete Tie exemplifies our commitment to providing innovative solutions that meet the highest standards of reliability and performance, supporting railroads across North America in achieving a more durable and efficient infrastructure.

This November, voestalpine Railway Systems Nortrak will present the paper “Track stiffness transition optimization using specialty concrete sleepers and fastener systems” at the International Heavy Haul Association (IHHA) Conference. The presentation will explore the engineering principles behind the Keyway Tie, its performance in transition zones, and its role in advancing track infrastructure strategies.

If you are attending IHHA, we invite you to join the conversation. Learn how small design shifts, like a concrete tie that thinks like wood, can lead to big changes in how we build and maintain the railways of tomorrow.

The post Concrete That Thinks Like Wood: The Innovation Behind the Keyway Tie appeared first on Railway Age.

For years, maintenance crews across the railroad industry have trusted WVCO Railroad Solutions SpikeFast® tie remediation products to extend the life of wooden, composite and concrete ties while improving track performance and reliability. Built on years of field success, our regular cartridges (450 ml) have been the go-to solution for precise, high-strength repair applications for smaller applications. Now that same trusted formula is available in XL cartridges (1,500 ml) for larger projects, to keep crews working longer with fewer interruptions—delivering more productivity, less waste and the same industry-leading performance.

Every minute on track matters. With the XL cartridge, crews can repair more than three times as many holes per cartridge on larger stretches of track repairs compared to the regular cartridges. Fewer changeouts mean smoother workflow, faster completion times, and less downtime spent swapping cartridges or handling packaging. The result: more holes repaired per shift and greater efficiency across the board.

Beyond increased productivity, the larger cartridge supports sustainability and cost savings. Using fewer cartridges per project translates into:

• Reduced packaging waste and disposal costs
• Simplified logistics and storage
• Less time managing empty containers

It’s a cleaner, more efficient approach that helps railroads and contractors meet environmental and operational goals simultaneously.

As rail maintenance operations look for ways to do more with fewer resources, innovations like the SpikeFast® XL cartridges make a measurable difference. It’s the same trusted product—just re-engineered to maximize uptime, minimize waste, and keep crews focused on what matters most: getting the job done.

Discover how the new XL cartridge can help your maintenance program increase productivity and reduce waste—without changing your proven process.

Learn more at WVCO Railroad Solutions 

WVCO Railroad Solutions — Your partner for the long haul.

The post Bigger Cartridges. Better Efficiency. Same Proven Results: Introducing XL cartridges for SpikeFast® ES-50 and SpikeFast® CTR-100 appeared first on Railway Age.

An Oct. 30 letter to the Surface Transportation Board co-authored by Senators John Hoeven (R-N.D.) and Amy Klobuchar (D-Minn.) asks the STB to “closely scrutinize” the proposed Union Pacific-Norfolk Southern merger, stressing “the potential disruptions to U.S. rail service resulting from a merger of this scale” and “the need for the STB to fully analyze the potential impact on long-term competition, including for agriculture producers, many of whom already face limited options for accessing rail service.”

Sixteen Senators—eight Republicans and eight Democrats—cosigned the letter (download below): Tim Sheehy (R-Mont.), Martin Heinrich (D-N.M.), Bill Cassidy (R-La.), Tina Smith (D-Minn.), Steve Daines (R-Mont.), Raphael Warnock (D-Ga.), Roger Marshall (R-Kan.), Patty Murray (D-Wash.), Mike Rounds (R-S.D.), Ruben Gallego (D-Ariz.), Roger Wicker (R-Miss.), Tammy Baldwin (D-Wisc.), Jim Banks (R-Ind.), Tammy Duckworth (D-Ill.), Joni Ernst (R-Iowa) and Dick Durbin (D-Ill.).

Addressed to STB Chairman Patrick Fuchs, Vice Chair Michelle Schultz and Member Karen Hedlund, the letter notes that “the STB’s post-2001 ‘Major Rail Consolidation Procedures’ were adopted specifically to place heightened emphasis on whether Class I railroad mergers enhance, rather than merely preserve, competition… The proposed UP+NS merger will be the first to come before the Board under these rules, and it is essential that you establish a strong precedent and apply these heightened standards in the way they were intended. If approved, a combined UP+NS would handle more than 40%of all U.S. freight rail traffic (a point made by Canadian Pacific Kansas City, which recently established a website stating its case against the UP+NS transaction)… a transcontinental system spanning 50,000 route-miles across 43 states. Service interruptions of this magnitude could have severe consequences, especially for agricultural producers. Time-sensitive shipments during harvest could be delayed or spoiled, export windows could be missed, and access to global markets could be sharply reduced… “We look forward to working with you to ensure the STB continues to promote an efficient, competitive, and economically viable freight rail network that serves the public interest.” 

The Senators added their viewpoint “has been endorsed by the Agricultural Retailers Association (ARA), Agriculture Transportation Coalition (AgTC), Alliance for Chemical Distribution (ACD), American Chemistry Council (ACC), American Crystal Sugar, American Farm Bureau Federation (AFBF), Freight Rail Customer Alliance (FRCA), Greater North Dakota Chamber of Commerce, Minn-Dak Farmers’ Cooperative, Montana Agricultural Business Association, National Industrial Transportation League (NITL), National Farmers Union (NFU), North Carolina Agribusiness Council, North Dakota Agricultural Association, North Dakota Farmers Union, North Dakota Petroleum Council, North Dakota Grain Growers Association, North Dakota Grain Dealers Association, North Dakota Trade Office and the Southern Rail Commission.”

Join Railway Age on March 10, 2026 for our “Next-Gen Freight Rail Conference” at the Union League Club of Chicago. Confirmed participants include Jim Vena (UP), Mark George (NS), Keith Creel (CPKC), Tracy Robinson (CN), and Patrick Fuchs and Michelle Schultz (STB).

The post Hoeven, Klobuchar to STB: ‘Closely Scrutinize’ UP+NS appeared first on Railway Age.

To express its concerns about the proposed Union Pacific-Norfolk Southern merger, Canadian Pacific Kansas City (CPKC) has established a page on its website stating it case against the possible combination and argues that the Canadian Pacific-Kansas City Southern transaction that created North American transnational CPKC was a “necessary merger.”

The CPKC web page expressing opposition to the merger states, in part:

“Union Pacific and Norfolk Southern propose to merge the largest Class I railroad in [the U.S.] with the fourth-largest. The two merging railroads already have extensive access to vast markets. The two railroads propose to combine to form the Union Pacific Transcontinental Railroad, or UP Transcon. The UP-NS mega-merger is unnecessary and will dominate rail transportation markets, reducing rail customer optionality in ways that cannot be undone. A UP Transcon will radically and permanently change the nation’s rail network.

“On its own, the combination of UP and NS at this time would pose unprecedented and far-reaching risks to customers, rail employees and the broader supply chain. A UP Transcon would control approximately 40% of the U.S. freight rail traffic and have unrivaled leverage that would reduce the bargaining power of rail customers. “These risks would be magnified by the inevitable follow-on rail industry consolidation. 

“It doesn’t have to be this way. Collaboration among the railroads without mergers in high-density east-west transcontinental traffic lanes can achieve the kinds of benefits UP and NS say they are pursuing by merging.

“Today’s existing six Class I railroads provide the necessary capacity and operational fluidity to safely drive years of service improvement, volume growth, truck conversion and value creation for rail shippers supporting the national economy, and the capability to serve the economy’s transportation needs and the nation’s shippers well for years to come.

“The STB’s approval of the CPKC merger is not justification for the UP-NS proposal. The combination of CP and KCS was necessary to unlock investments, create new routes and offer new optionality to shippers. There, the two smallest Class 1 railroads combined to better compete with larger competitors that already had single-line routes. Even though CPKC remains the smallest Class I, it is investing heavily in its previously underutilized U.S. rail corridor to create more competition and capacity for the U.S. freight network.”

Join Railway Age on March 10, 2026 for our “Next-Gen Freight Rail Conference” at the Union League Club of Chicago. Confirmed participants include Jim Vena (UP), Mark George (NS), Keith Creel (CPKC), Tracy Robinson (CN), and Patrick Fuchs and Michelle Schultz (STB).

The post CPKC: UP+NS Merger ‘Not in the Public Interest’ appeared first on Railway Age.

The plan (download below), ITD says, “evaluates the current condition and performance of Idaho’s rail network, identifies system-wide challenges and opportunities, and outlines strategies to strengthen rail infrastructure.” The plan will also explore key topics such as rail safety, grade crossings, and access for rail-served industries that help drive Idaho’s economy.

Unlike other statewide transportation plans, this plan does not allocate funding for specific projects, ITD noted. “Instead, it provides a strategic foundation that supports future grant applications and coordination with the Federal Railroad Administration (FRA) and other partners.”

“We want to hear from Idaho communities about how rail infrastructure is working today and what improvements would make the biggest difference in the future,” said ITD Freight Program Manager Caleb Forrey. “Your feedback will help us better understand statewide priorities and shape a plan that reflects Idaho’s needs.”

Railways in Idaho are operated by the private sector, with ITD having shared responsibility for safety at highway-rail crossings. As is the case with public transportation in Idaho, there are no dedicated state funding sources for freight or passenger rail beyond match funds for federally funded improvements to rail crossings.

The online survey is open through Nov.12 and takes about five minutes to complete. Feedback collected will be summarized in the final plan, which is expected to be released in spring 2026, and used to guide discussions with communities, railroads, and state and federal partners.

The post ITD Seeks Public Feedback on Idaho Statewide Rail Plan appeared first on Railway Age.

Among CN’s third-quarter 2025 highlights:

• Revenue ton miles (RTMs) rose 1% to 57.188 billion from third-quarter 2024’s 56.48 billion.
• Revenues of C$4.165 billion were up C$55 million, or 1%.

• Operating income of C$1.606 billion was up C$91 million, or 6%.
• Operating ratio, defined as operating expenses as a percentage of revenues, came in at 61.4%, an improvement of 170 basis points.
• Diluted earnings per share (EPS) of C$1.83 was up 6%.

CN says it “continues to deliver adjusted EPS growth in the mid to high single-digit range and continues to invest approximately C$3.35 billion in its capital program, net of amounts reimbursed by customers.”

“We are taking decisive actions to navigate a challenging macro environment including doubling down on productivity efforts, setting our 2026 capital spend at C$2.8 billion, down nearly C$600 million from this year’s levels, driving increased free cash flow on a go-forward basis. We are positioning this business to benefit from higher future volumes and ensuring everything we do enhances our customers and shareholders long term value,” said Robinson.

DOWNLOAD CN’s 3Q25 FINANCIAL REPORTS, INVESTOR PRESENTATION BELOW:

The post CN Delivers ‘Strong’ 3Q25 appeared first on Railway Age.

International Association of Sheet Metal, Air, Rail and Transportation Workers – Transportation Division (SMART-TD) members on BNSF, Norfolk Southern (NS), CN, and several Class II and Class III railroads have voted to ratify a new, five-year collective bargaining agreement that the union says, “delivers substantial economic gains and key improvements—without any concessions.”

Under the terms of the agreement, which was approved by nearly 70%, members will receive compounded wage increases of 18.77% over a five-year period. The first wage increase of 4.0% will be applied retroactively to July 1, 2025, with full back pay. The agreement also strengthens medical, dental, and vision benefits, and includes improved vacation benefits to improve quality of life for members and their families.

Negotiations between SMART-TD and the participating railroads took place over approximately nine months, culminating in a tentative agreement that was reached in early October. The high level of voter turnout and the results, the union says, “underscore the membership’s confidence in SMART-TD’s bargaining team and satisfaction with what was achieved at the table.”

“This contract represents a solid victory for our members,” said SMART-TD President Jeremy Ferguson. “We secured real wage growth, protected our work rules and crew consist agreements, enhanced our benefits, and achieved these gains without giving up a single concession or protection. Our members stood together and recognized the value and importance of this agreement, and it paid off.”

The new contract went into effect immediately on Wednesday, Oct. 29, 2025, at midnight when votes were tabulated, and its moratorium will remain in place until Jan. 1, 2030.

The post BNSF, NS and CN SMART-TD Members Ratify New Five-Year Agreement appeared first on Railway Age.

The update (download below) details the progress the MTA has made since the report was released last April, including more than $1.5 billion in funding to protect the subway system from flooding and Metro-North’s Hudson line from storm surge and sea level rise that were secured as part of the 2025-2029 Capital Plan.

The Climate Resilience Roadmap Update, the MTA says, outlines the need for increased partnership with the City of New York, including identifying 10 priority locations throughout the city where urgent action is needed by the New York City Department of Transportation (NYCDOT) and New York City Department of Environmental Protection (NYCDEP) to control stormwater flood impacts on neighboring communities and transit infrastructure including:

• 4 Av between Union St & 36 St, Brooklyn
• Canal/Lafayette/Centre Streets, Manhattan
• Castleton Depot, Staten Island
• Central Flatbush, Brooklyn
• Central Harlem, Manhattan
• Chelsea/Midtown South, Manhattan
• Cross Island Parkway, Queens
• Grand Av-Newtown, Queens
• Longwood Av, Bronx
• Mott Haven Yard, Bronx

The report also identifies nine interagency climate resilience actions between the City of New York and the MTA, including:

Heavy rain:  

• “Accelerate the pace of capital investments to increase stormwater management capacity, particularly in vulnerable communities adjacent to transit infrastructure. 
• “Maintain sidewalk curbs of sufficient size and catch basins of sufficient capacity to manage intense rain.  
• “Optimize storm sewer networks to send excess stormwater away from overloaded locations adjacent to MTA infrastructure to areas with spare capacity.”  

Coastal flooding:  

• “Sustain leadership and future-forward strategy towards coastal resilience in the New York City region.  
• “Manage the coordinated design and deployment of the city’s flood mitigation measures and deepen coordination with the MTA on emergency operations planning. 
• “Continue to advance City-led climate data collection and monitoring.”  

Extreme heat:  

• “Facilitate the development of thermal energy networks between public and private properties that can utilize waste heat from sources like the subway. 
• “Encourage new heat recovery and geothermal technologies that pull heat from vulnerable sites like subway stations.   
• “Provide consistent shade for transit customers by increasing tree canopy.” 

In the 18 months since the MTA’s inaugural Climate Resilience Roadmap was released, the agency says “significant progress” has been made in initiating and completing numerous actions under the Roadmap’s 10 goals and related strategies, such as shielding subway stations and tunnels from stormwater. Some of the highlighted strategies for protecting subways included boosting collaboration with City agencies, protecting subway tunnel walls from leaks, and installing sidewalk-level protection. 

The MTA has worked with NYCDEP to clean priority catch basins before heavy rainfall events and cooperated on drainage planning, inspected tunnels and sewers, and identified 2025-2029 Capital Program for sidewalk-level protections at priority stations.

For more information on progress made on the Climate Resilience Roadmap, visit the MTA Climate Resilience Roadmap: Progress Update on page 32.

“Transit is the antidote to climate change, but the system can’t work well if it’s constantly getting pounded by severe storms and torrential rain,” said MTA Chair and CEO Janno Lieber. “Working with Governor Hochul and the City, we must continue to harden our infrastructure to withstand the effects of increasingly extreme weather events.”

“We are taking action to protect our infrastructure and the New Yorkers that rely on it from the impacts of climate change,” said MTA Construction & Development President Jamie Torres-Springer. “This roadmap update highlights the progress we’ve made even in the last eighteen months and lays out the path forward in partnership with the City of New York and other stakeholders.”

The Climate Resilience Roadmap Update follows the release of the Climate Resilience Roadmap in April 2024 and the 20-Year Needs Assessment in October 2023, “the most rigorous and transparent assessment of the MTA system to date, outlining the MTA’s region’s needs for the next generation,” the agency noted. “It provides a blueprint to strengthen and expand the system, while improving reliability and resilience to withstand extreme weather challenges in the future.”

The post NYMTA Releases Climate Resilience Roadmap Update appeared first on Railway Age.

If approved by the membership, the tentative agreement, BLET says, would run through 2030 and would provide for a guaranteed 40-hour work week, a signing bonus, and general wage increases each year through the life of the agreement. The tentative agreement also includes improvements to holiday pay, paid time off, and other provisions.

Members governed by this tentative agreement belong to BLET Division 16, the union’s short line division. The negotiating team consisted of Grievance Chairman Frank Graves and National Vice President James Logan. BLET first organized the WNYP property, which extends across southwestern New York and northwestern Pennsylvania from Hornell, N.Y., to Meadville, Pa., and Oil City, Pa., and north and south of Olean, N.Y., in 2008.

Ballots are due back to BLET’s National Division by Nov. 11.

The post BLET, WNYP Reach Tentative Agreement appeared first on Railway Age.

Trainyard Tech, LLC, announced Oct. 29 that it has signed a contract with Ferrocarril y Terminal del Valle de México, S.A. de C.V., to deploy its flagship ClassMaster Process Control System at the Valle de México Yard in Mexico City.

This, Trainyard Tech says, marks ClassMaster’s first installation in Mexico, “extending its proven reach beyond the U.S. and Canada.” The system provides fully automated train classification, routing, and yard management, enabling rail operators to “increase throughput; reduce dwell times; and improve safety through advanced control logic, real-time monitoring, and data analytics.”

Already operational in major classification yards across North America, ClassMaster, the company says, is backed by “proven technology, comprehensive support, and a track record of delivering measurable efficiency gains.”

“The deployment of the ClassMaster system in Mexico underscores our commitment to advancing rail efficiency and safety across North America,” said Trainyard Tech President John Aliberti.

The post Trainyard Tech to Deploy ClassMaster™ at Valle de México Yard appeared first on Railway Age.

Trinity reported total company revenue of $454 million for the third quarter ended Sept. 30 30, 2025, down 43.2% from the prior-year period’s $798.8 million. It attributed this to “lower external deliveries in the Rail Products Group.” Additionally, quarterly income from continuing operations per common diluted share (EPS) came in at $0.38 vs. $0.44 in 2024.

Operating profit for third-quarter 2025 was $118.6 million, down 3.2% from third-quarter 2024’s $122.4 million, reflecting “lower external deliveries in the Rail Products Group, partially offset by lower selling, engineering, and administrative expenses and higher gains on lease portfolio sales,” Trinity said.

Rail Products Group revenue came in at $278.8 million in third-quarter 2025, falling 53.7% from $603.2 million in 2024, due to “lower deliveries.” In the nine months ending Sept. 30 30, 2025, the Group delivered 1,680 railcars; received orders for 350 railcars, valued at $50.7 million; and had a backlog value of $1.8 billion. This compares with third-quarter 2024’s 4,360 railcars delivered; 1,810 railcars ordered, valued at $201.4 million; and a backlog value of $2.4 billion.

For the Railcar Leasing and Services Group, revenue was $301.0 million in third-quarter 2025, up 3.8% from the prior-year period’s $289.5 million. The company attributed this to “higher lease rates and favorable pricing on external repairs, partially offset by a lower volume of external repairs in the maintenance service business.”

Lease fleet utilization—including wholly-owned railcars, partially-owned railcars, and railcars under leased-in arrangements—came in at 96.8% vs. third-quarter 2024’s 96.6%. The Future Lease Rate Differential (FLRD) was positive 8.7% at the end of third-quarter 2025 vs. positive 28.4% for the prior-year period due to “strength in repricing lease rates.” According to Trinity, FLRD calculates the “implied change in lease rates for railcar leases expiring over the next four quarters” and “assumes that these expiring leases will be renewed at the most recent quarterly transacted lease rates for each railcar type”; FLRD is “useful to both management and investors as it provides insight into the near-term trend in lease rates.”

“In our Railcar Leasing and Services segment, we continue to benefit from strong market dynamics. Our fleet utilization stands at a favorable 96.8%, and segment revenue has grown by 4.0% year over year, driven by higher lease rates and favorable pricing on external repairs,” Savage said. “I am especially proud of our ability to capitalize on a robust secondary market both as a buyer and seller of railcars, allowing us to maintain our targeted net fleet investment while also generating $21.7 million of gains on lease portfolio sales in the quarter. In the Rail Products segment, we achieved a solid operating profit margin of 7.1%, even in a lower delivery environment, with a favorable mix of railcars and continued discipline and focus on operational excellence.”

Looking ahead, Trinity reported that it expects industry deliveries of approximately 28,000 to 33,000 railcars in 2025. Additionally, this year it would have a net fleet investment of $250 million to $350 million; operating and administrative capital expenditures of $45 million to $55 million; and EPS of $1.55 to $1.70, which the company said, “excludes items outside of our core business operations.”

“Looking ahead, we are confident in our ability to finish the year strong, and we are raising and tightening our full year EPS guidance to a range of $1.55 to $1.70, reflecting sustained margin strength and continued success in the secondary market,” Savage concluded.

For more information, visit Trinity’s Investor Relations webpage.

The post Trinity’s Savage: 3Q25 Results Highlight ‘Agility and Strength’ appeared first on Railway Age.

CPKC reported revenues of $3.7 billion in third-quarter 2025; diluted earnings per share (EPS) increased to $1.01 from $0.90 in third-quarter 2024; and core adjusted combined diluted EPS increased 9% to $1.29 from $0.99 in third-quarter 2024.

“Through our powerful network and unique partnerships, we are providing strong service and bringing innovative solutions to the market for our customers. I remain confident in our ability to continue delivering on our long-term value proposition,” added Creel.

Among CPKC’s other third-quarter 2025 highlights:

• Volumes, as measured in Revenue Ton-Miles, increased 5%.
• Revenues increased 3% to $3.7 billion from $3.5 billion in Q3 2024.
• Reported operating ratio (OR) decreased 260 basis points to 63.5% from 66.1% in Q3 2024.
• Core adjusted OR1 decreased 220 basis points to 60.7% from 62.9% in Q3 2024.
• Reported diluted EPS increased to $1.01 from $0.90 in Q3 2024.
• Core adjusted diluted EPS1 increased 11% to $1.10 from $0.99 in Q3 2024.
• Reported and core adjusted1 results include a $39 million sequential increase in casualty expense versus Q2 2025 which was a $0.03 impact to Q3 2025 reported and core adjusted diluted EPS1.
• Federal Railroad Administration (FRA)-reportable personal injury frequency decreased to 0.92 from 0.95 in Q3 2024.
• FRA-reportable train accident frequency decreased to 1.15 from 1.43 in Q3 2024.

“Our team of dedicated railroaders across CPKC’s unrivalled network continues to do what we said we would do, safely driving growth and opening new markets as we keep our commitments to our stakeholders. Through strong execution of our strategy, focused on leveraging our North American footprint, we continue to expect to deliver on our full-year 2025 guidance,” Creel concluded.

DOWNLOAD CPKC’s 3Q25 EARNINGS REVIEW PRESENTATION BELOW:

The post CPKC 3Q25: ‘Profitable, Sustainable Growth’ appeared first on Railway Age.

CSX on Oct. 29 announced executive leadership changes “designed to strengthen the company’s strategic focus and advance its long-term growth objectives.” Effective immediately, Kevin Boone has been named Executive Vice President and Chief Financial Officer (CFO), succeeding Sean Pelkey, who has departed the company. Maryclare Kenney has been promoted to Senior Vice President and Chief Commercial Officer (CCO), “reinforcing the company’s commitment to driving continued momentum and value creation.”

Boone joined CSX in 2017 and has held several key leadership roles. Most recently, he served as Executive Vice President and CCO. He brings “exceptional expertise” to the role of Executive Vice President and CFO, a position he previously held for two years during the company’s navigation of supply chain challenges brought on by the COVID-19 pandemic, CSX noted. Boone also served as Vice President of Corporate Affairs and Investor Relations at CSX. Prior to joining the company, he spent nearly two decades in the investment industry, specializing in finance, accounting, and mergers and acquisitions.

Kenney has been a pivotal leader in CSX’s commercial operations for nearly 14 years, driving growth across various business segments, the Class I said. Most recently, she was responsible for Merchandise Sales and Marketing, TRANSFLO, Automotive, and Total Distribution Services, Inc. (TDSI). Prior to that, she served as Vice President of Intermodal and Automotive. Before joining CSX in 2011, Kenney held sales leadership and strategy roles at PepsiCo and served in the U.S. Army for seven years, achieving the rank of captain.

“I am pleased to appoint Kevin and Maryclare to these critical leadership roles,” said CSX President and CEO Steve Angel. “They are the right leaders at the right time to build on our momentum and position CSX for long-term success. Their exceptional expertise and proven track records will be instrumental in advancing a high-performance culture and realizing our vision of becoming the best-performing railroad in the nation. We thank Sean for his many years of dedicated service to CSX and sincerely wish him well in his future endeavors.”

“I look forward to partnering with these dynamic leaders as we continue developing a strong pipeline of talent and making CSX the standard of operational success in the railroad industry,” Angel added.

The post Boone Named as CSX CFO; Kenney Promoted to CCO appeared first on Railway Age.