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CSX and Kansas City Southern (NYSE:KSU) posted respective showings of -3.7% and -7.1% in today's trade after offering downbeat outlooks at a Credit Suisse industrials conference.
- CSX CFO Frank Lonegro said the company now expects FY 2015 EPS growth of ~3% after issuing guidance in October for annual EPS of $2.00-$2.04, or growth of at least 4%.
- "While we continue to expect to move around 30M tons of export coal for the full year, domestic coal movements have declined more significantly in the fourth quarter than expected," Lonegro said.
- KSU CFO Michael Upchurch said he expects Q4 revenue to decline at a high single-digit percentage rate from a year ago, vs. revenue consensus of $622M implying a 3.3% decline.
- KSU also said that after a strong start to Q4 in October, intermodal volumes decelerated in November, to signal an end to the peak season.
- Also today: UNP -2.7%, NSC -2.8%, CP -2.7%, CNI -2.1%, IYT -2.1%.