CSX Corporation (CSX) - NASDAQ
  • Sep. 24, 2015, 2:36 PM
    • U.S. rail traffic fell 2.5% to 566,734 carloads for the week reported on September 23.
    • Grain was the commodity group with the largest traffic jump, while metallic ores/metals and petroleum products showed the sharpest drops.
    • Intermodal traffic was up 0.6% during the week.
    • YTD cumulative rail traffic is down 4.4% to 10.304M carloads.
    • Railroad stocks: UNP, NSC, CSX, CNI, ARII, GBX, CP, KSU, CNI, WAB, TRN.
    | Sep. 24, 2015, 2:36 PM | 19 Comments
  • Sep. 9, 2015, 1:15 PM
    • CSX (CSX +0.6%) is higher despite issuing a tepid outlook, saying Q3 freight volumes are trending below the company's expectations and will remain challenging through Q4 and beyond.
    • CSX exec Fredrik Eliasson tells a Cowen transporation conference that the railroad's overall volume YTD is down ~2%, with both domestic coal and merchandise markets tracking slightly below the company's original Q3 expectations.
    • CSX now expects full-year EPS growth in the mid-single digits, vs. a previous outlook for mid- to high-single digits, citing YTD coal freight volumes down 17% Y/Y and difficulties in the coal market that are expected to continue in Q4.
    | Sep. 9, 2015, 1:15 PM | 2 Comments
  • Sep. 8, 2015, 4:43 PM
    • Jeff Smisek, United Airlines' (NYSE:UAL) CEO since 2010 and chairman since 2012, has stepped down from both roles.
    • Oscar Munoz, until now the COO of rail service provider CSX and a United director, is United's new CEO, effective immediately. Henry L. Meyer, United's lead independent director, has been named non-executive chairman.
    • United's EVP of communications and government affairs and its SVP of corporate and government affairs have also stepped down. The departures are tied to a "federal investigation associated with the Port Authority of New York and New Jersey."
    • UAL -0.4% AH.
    | Sep. 8, 2015, 4:43 PM | 14 Comments
  • Sep. 3, 2015, 8:03 AM
    • U.S. railroad and intermodal traffic fell 0.8% Y/Y to 2,270,327 carloads for the month of August.
    • Commodity groups posting an increase were miscellaneous, grain mill products, and motor vehicles. Traffic was lower for the metallic ores, petroleum, and coal groups.
    • YTD total combined railroad traffic -1% to 18.514M carloads. Intermodal volume is outpacing carload traffic.
    • The AAR is optimistic over the back half of the year.
    • "We're optimistic that the economy will continue to grow. Demand for rail service should continue to grow with it," said an AAR exec.
    • Railroad stocks: UNP, NSC, CSX, CNI, ARII, GBX, CP, KSU, CNI, WAB, TRN.
    | Sep. 3, 2015, 8:03 AM | 10 Comments
  • Aug. 27, 2015, 3:58 PM
    • Kansas City Southern (KSU +3.9%) is upgraded to Hold from Sell at Stifel, believing the stock has been sufficiently beaten down and is now fully valued.
    • The firm says its previous rating had been based on poor company guidance related to overly optimistic expectations in oil, auto and intermodal, but the story has fully played out and KSU eventually could become "interesting" as those stories turn around.
    • Railroads are broadly higher today: CSX +4.9%, NSC +5.1%, UNP +3.2%, GWR +6.6%, CNI +3.1%, CP +5.5%.
    • Earlier: Stifel Nicolaus sees upside for CSX
    | Aug. 27, 2015, 3:58 PM | 1 Comment
  • Aug. 27, 2015, 10:49 AM
    • U.S. railroad traffic increased 0.4% Y/Y to 567,943 carloads for the week ending August 22.
    • Commodity groups posting an increase were miscellaneous, farm products, and motor vehicles. Traffic tailed off for metallic ores, petroleum, and coal.
    • YTD total combined railroad traffic -1% to 17.938M carloads.
    • Railroad stocks: UNP, NSC, CSX, CNI, ARII, GBX, CP, KSU, CNI, WAB, TRN.
    | Aug. 27, 2015, 10:49 AM | 21 Comments
  • Aug. 27, 2015, 8:13 AM
    • CSX Corporation (NYSE:CSX) is upgraded at Stifel Nicolaus to a Buy rating from Hold.
    • Stifel cited improved operational results at the railroad company in making its bullish call.
    • CXS +0.5% premarket to $26.50.
    | Aug. 27, 2015, 8:13 AM | 1 Comment
  • Aug. 25, 2015, 10:43 AM
    • Goldman Sachs analysts say the U.S. stock market correction has many more parallels with 1998 than 2008, which “suggest[s] a rebound ahead,” while predicting the S&P 500 will rise by 11% from current levels to reach 2,100 by year's end.
    • The S&P fell 19% between July and August 1998, but "ultimately, the U.S. economy was relatively unaffected by overseas financial market gyrations in 1998, and we believe a similar situation will occur in 2015," Goldman says.
    • The correlation between U.S. economic growth and Chinese growth is relatively low, Goldman says, estimating that a one percentage point drop in Chinese growth would translate into a 0.06 pp reduction in U.S. GDP.
    • The best strategy for U.S. consumers, the bank advises, is to hold companies with high domestic revenues and avoid companies with high foreign sales.
    • Goldman's list of the 25 most oversold stocks with high U.S. sales exposure: KMX, M, WFM, CHK, SWN, RRC, COG, PXD, OKE, MPC, NAVI, ETFC, LNC, BXP, KEY, RF, DFS, ANTM, CSX, NSC, UNP, JBHT, FSLR, ADS, PAYX
    | Aug. 25, 2015, 10:43 AM | 41 Comments
  • Aug. 10, 2015, 6:54 AM
    • A majority of railroads will fall short of meeting a deadline of the end of the year to install PTC technology, warns the Federal Railroad Administration.
    • Companies could be assessed "substantial" fines if the deadline to install positive train control systems isn't completed on time.
    • Related stocks: CSX, GWR, KSU, CP, UNP, CSX, CNI, PWX, OTCPK:PRRR.
    | Aug. 10, 2015, 6:54 AM | 11 Comments
  • Aug. 7, 2015, 5:54 PM
    • Rail traffic fell in July from a year ago as an increase in container volumes could not offset a sharp decline in oil and coal shipments, according to the latest monthly report from the Association of American Railroads.
    • The number of carloads carrying oil and petroleum products fell 13.6% Y/Y to 67.9K last month, while coal volumes sank 12.5%; container shipments rose 3.8% to 1.2M, and traffic overall fell 1.8% to 2.7M.
    • "Railroads are overexposed, relative to the economy in general, to the energy sector,” the AAR says in its traffic report.
    • Relevant tickers: CSX, NSC, UNP, KSU, BRK.A, BRK.B
    | Aug. 7, 2015, 5:54 PM | 24 Comments
  • Jul. 23, 2015, 5:58 PM
    • Union Pacific (NYSE:UNP) fell 5.7% in today's trade, becoming the latest rail company to suffer from sharp declines in coal traffic when it announced a nearly 10% Y/Y drop in Q2 revenues, including a 31% slump in coal revenues to $679M.
    • The volume of coal carried in the quarter fell 26%, pushing overall volumes down 6%, UNP said.
    • Last week, CSX, the main railroad in the eastern U.S., reported an 11% drop in Q2 coal revenues and a 15% decline in traffic.
    • UNP, which operates in the western two-thirds of the U.S., suffered particularly heavily because its main coal traffic is low-quality coal from the Powder River Basin, which is used mainly for electricity generation; much of the coal traffic for CSX and Norfolk Southern (NYSE:NSC), which operate east of the Mississippi, is high-quality metallurgical coal used in steel production.
    • UNP said its crude oil traffic for Q2 fell 29% to 25.2K carloads.
    | Jul. 23, 2015, 5:58 PM | 17 Comments
  • Jul. 22, 2015, 5:44 PM
    • Orders for railroad tank cars during Q2 fell 29% Q/Q and 70% Y/Y, reflecting a broad decline in energy shipments at railroads.
    • Carload volume for oil and petroleum products for the week ended July 18 was down 20% from last year and off 2.7% in the first 28 weeks of 2015 from the same period in 2014.
    • Kansas City Southern (NYSE:KSU) recently reported a 46% decline in energy shipments, and Canadian Pacific (NYSE:CP) said Q2 revenue from crude oil shipping tumbled 29% Q/Q.
    • Other relevant tickers: CSX, NSC, UNP, CNI, BRK.A, BRK.B, GBX, WAB, TRN, ARII, RAIL
    | Jul. 22, 2015, 5:44 PM | 31 Comments
  • Jul. 15, 2015, 3:59 PM
    • CSX Corp. (CSX +1%) warns that declining coal shipments will continue to weigh on its results into next year as more power plants convert to use natural gas, a trend that resulted in a 5.6% drop in Q2 revenue.
    • In today's earnings conference call, CSX executives said coal volumes fell 11% during Q2 and forecast a steeper 15% decline of domestic coal shipments in Q3 that could be repeated in Q4.
    • "There's probably more downside to the coal volume next year than there is upside," CSX CFO Fredrik Eliasson said on the call, adding that the current energy environment will make it hard for the company to achieve the high end of its 2015 profit forecast.
    • CSX left its FY 2015 earnings outlook unchanged, targeting mid to high single-digit EPS growth, after reducing its forecast in April.
    | Jul. 15, 2015, 3:59 PM | 5 Comments
  • Jul. 14, 2015, 4:08 PM
    • CSX Corporation (NYSE:CSX) reports it struck an all-time high operating ratio of 66.8% in Q2.
    • Volume was down 1% during the period.
    • The company was able to lower expenses by 9% to help offset the 6% drop in revenue.
    • Guidance: CSX expects domestic coal revenue to fall 10% this year. Margins are seen rising as a full-year mid-60s operating ratio is targeted.
    • CSX +3.37% after hours.
    | Jul. 14, 2015, 4:08 PM
  • Jul. 14, 2015, 4:07 PM
    • CSX (NYSE:CSX): Q2 EPS of $0.56 beats by $0.03.
    • Revenue of $3.06B (-5.6% Y/Y) misses by $70M.
    • Shares +2.93%.
    | Jul. 14, 2015, 4:07 PM
  • Jul. 14, 2015, 9:29 AM
    • Earnings season for the railroad sector launches tonight when CSX Corp. reports with expectations EPS will be flat compared to a year ago at $0.53.
    • The company lowered its guidance in April to single-digit earnings growth for the full year in a shot heard across the sector.
    • Freight traffic has been in decline due to lower shipments of crude oil, coal, and grains, although some analysts have forecast increased demand for consumer goods could help to offset trends in the energy market.
    • Today's big miss in retail sales doesn't bode particularly well for that line of thought.
    • Railroad stocks: UNP, NSC, CSX, CNI, ARII, GBX, CP, KSU, CNI, WAB, TRN.
    • CSX earnings preview
    | Jul. 14, 2015, 9:29 AM | 12 Comments
Company Description
CSX Corp. is a transportation supplier company. It provides rail-based transportation services including traditional rail service and the transport of intermodal containers and trailers. The company through its principal operating subsidiary, CSX Transportation, Inc., provides an important link... More
Sector: Services
Industry: Railroads
Country: United States