Q4 results are posted. While revenue had grown 9%, YOY Volume is up only 42 cars - negative growth from a "same store sales" perspective (given 2015 numbers did not include Rockland branch activity).
PORTLAND, Maine — The Central Maine and Quebec Railway in 2016 posted positive net income for the first time since buying the former Maine Montreal and Atlantic Railway in a bankruptcy sale.
In its fourth quarter earnings report, the Hermon-based international railroad reported net income of $605,000, driven by a 20 percent increase in revenue, to $30.8 million. That’s up from about $25.6 million in revenue in 2015.
In 2016, the rail line shipped more carloads of building products, fuel and propane, chemicals and fertilizers, and paper and wood pulp. Among those product categories, paper and wood pulp carloads were the only to drop lower in the fourth quarter than one year ago.
Cosakita18 wrote:'m surprised CMQ hasn't been more aggressive in trying to get Potash and crude moving by rail east of Saint John.Im sure it wasn't for lack of trying. Very difficult to beat a rate for a single line haul of over 2000 miles.
Cosakita18 wrote:I've seen some very isolated intermodal activity, but It doesn't seem like they have enough traffic to warrant a real investment in IM.New shipping line (CMA CGM GROUP) begin sailings from Saint John this month. Perhaps CMQ could make a play.
Cosakita18 wrote:Could some of that loss be attributed to the revival of the PAR-NBSR interchange at 'keag?Yes, however the exact shift in volumes at that interchange are unclear.
Traffic shift to other lanes/carriers?Recall that their haulage agreement ended at the end of last year, really hurting the carload stats. If chem and fuel segments were flat YOY, carloadings would be down over 20% in Q3.
Cowford wrote:YTD, building products down 25%; agricultural products down 60%; "finished wood" down 20%; pulp and paper down 30%. Propane and chem are definitely paying the bills.Searsport Branch has been quite brisk at times this year. Saturday's "down" train had 31 cars, which nearly 50% was GAC(chemical loads). Even after they went back, there are nearly 30 cars in Searsport yard. The most I think I've seen without a crew or power around. Slurry has been steady(normally a block of 10-15 either way). Irving has added some traffic as well. Normally a couple all the way up to ten empties each train down, but usually goes back loaded 2-4 at a time. Dead River Hampden has been consistent all year. My favorite "newish" add has been the occasional dry product hopper for GAC! All in all, though, a seemingly decent 2017. Even better--very few re-crews even with the whole branch being 10 now.
Cowford wrote:Sounds as though the plan will be "hold on until marketing can come through with new business". So ... Opportunities are getting back auto and intermodal?Traffic shift to other lanes/carriers?Recall that their haulage agreement ended at the end of last year, really hurting the carload stats. If chem and fuel segments were flat YOY, carloadings would be down over 20% in Q3.
cvrr5809 wrote:Searsport Branch has been quite brisk at times this year. Saturday's "down" train had 31 cars, which nearly 50% was GAC(chemical loads).The GAC expansion has been a nice boost for the line for sure.
gokeefe wrote:Opportunities are getting back auto and intermodal?Auto's probably aren't coming back anytime soon. Irving Auto compounding yard is now a lumber reload as the traffic shifted to CN at Moncton. Intermodal is sparse but the occasional double stack to and from Saint John traverses the Moosehead.