Railroads Feel Pinch from Oil Prices
Published: Thursday, 09 April 2015 16:41
North American railroad companies have faced accelerating slowdowns, with volumes falling faster than executives had predicted, according to report on Bloomburg Business. With energy companies scaling back drilling after prices for the commodity fell about 50 percent since July, industry executives and analysts anticipated that demand for hauling crude and extraction materials such as frac sand and pipes would slow after a four-year surge.
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Fairmont Santrol Reports Strong Quarter, Year
Published: Thursday, 26 March 2015 19:15
Fairmount Santrol announced results for the fourth quarter and full year ended Dec. 31, 2014. For the fourth quarter, net income was $37.9 million, or $0.23 per diluted share, compared with net income of $10.7 million, or $0.06 per diluted share, for the same period a year ago. Adjusted earnings per diluted share were $0.24, an increase of 118 percent over adjusted earnings per diluted share of $0.11 for the fourth quarter of 2013.
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