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SP Income Improves (1994)

Author: From Pacific News

Date: 09-20-2019 - 19:43

Thoughts? Comments?

(From NOVEMBER 1994 issue of Pacific News)

SP Income Improves

Southern Pacific Rail Corporation reported
first quarter 1994 operating income of $62.3
million, triple that reported for the same
period of 1993, and revenues of $748.2 million.
First quarter carloadings were up 13.6 percent
over 1993, with coal carloadings jumping an
impressive 30 percent. The operating
ratio now stands at 91.7 percent, compared
with 96.9 during the first quarter of 1993.

Continuing his sell-off of Southern Pacific
Rail Corp. stock, Chairman Phillip Anschutz
has stated that he will dispose of
roughly one-fourth of his present holding in
SP Rail Corp. The move will drop his involvement
in SP Rail from 41 percent to 32
percent of outstanding stock. Anschutz will
release 13.7 million shares worth $270.6
million at a par value of $19.75 per share in
the upcoming sale. The overall offering of
the sale will include 17 million shares, with
an additional 2.5 million shares available to
cover over-allotments. No new stock will be
issued or sold during the transaction.

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From Pacific News Wrote:
-------------------------------------------------------
> Thoughts?  Comments?
> 
> (From NOVEMBER 1994 issue of Pacific News)
> 
> SP Income Improves
> 
> Southern Pacific Rail Corporation reported
> first quarter 1994 operating income of $62.3
> million, triple that reported for the same 
> period of 1993, and revenues of $748.2 million.
> First quarter carloadings were up 13.6 percent
>  over 1993, with coal carloadings jumping an
>  impressive 30 percent. The operating
> ratio now stands at 91.7 percent, compared
> with 96.9 during the first quarter of 1993.
> 
> Continuing his sell-off of Southern Pacific
> Rail Corp. stock, Chairman Phillip Anschutz
> has stated that he will dispose of
> roughly one-fourth of his present holding in
> SP Rail Corp. The move will drop his involvement
> in SP Rail from 41 percent to 32
> percent of outstanding stock. Anschutz will
> release 13.7 million shares worth $270.6
> million at a par value of $19.75 per share in
> the upcoming sale. The overall offering of
> the sale will include 17 million shares, with
> an additional 2.5 million shares available to
> cover over-allotments. No new stock will be
> issued or sold during the transaction.

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