Mon, Nov. 9, 2:10 PM
- Shares of Norfolk Southern (NSC +12.2%) and Canadian Pacific (CP +6%) spike on reports the companies are considering a merger.
- The speculation is giving a lift to a good portion of the sector with CSX (CSX +3.7%), Union Pacific (UNP +2.2%), and Kansas City Southern (KSU +2.9%) all notable movers.
- Railroad M&A talk has picked up this year as some market caps have moved down.
Tue, Oct. 27, 3:29 PM
- Railroad and trucking stocks are down today on a mix of news seen as negative for the transportation sector. UPS reported lower package volume in Q3 and durable-goods orders fell in September.
- Decliners include Norfolk Southern (NSC -3.6%), Union Pacific (UNP -5.1%), CSX Corporation (CSX -3.8%), Kansas City Southern (KSU -4.4%), Canadian Pacific(CP -5.4%), Canadian National Railway (CNI -3.9%), Genesee & Wyoming (GWR -5.3%), XPO Logistics (XPO -11.8%), Echo Global Logistics (ECHO -12.6%), C.H. Robinson Worldwide (CHRW -2.8%), Radiant Logistics (RLGT -7.9%), FedEx (FDX -1.4%), Air T (AIRT -5.9%), and Air Transport Services (ATSG -3.2%).
- The iShares Dow Jones Transportation ETF (NYSEARCA:IYT) is down 2.7%.
- Related: Tough day for four wheelers (Oct. 27)
Tue, Oct. 20, 12:15 PM
- CSX (CSX +1.9%) says it is closing mechanical shops in Corbin, Ky., affecting ~180 employees at the operation, as the company continues to respond to lower coal traffic volume.
- The Corbin shops are used primarily to serve locomotives and rail cars for coal trains moving from Central Appalachia to the eastern U.S.
- CSX says the closure is the result of reduced need for locomotive and car maintenance because of the significant decline of the region's coal traffic.
Wed, Oct. 14, 3:59 PM
- CSX (CSX -1.8%) expects rail volumes to continue to fall through the end of the year, so CEO Michael Ward says in this morning's earnings conference call that the company will focus on productivity and raising prices over the coming year.
- With domestic coal carloads expected to drop 20% in Q3, CSX says it is looking to make each cargo train more productive by further stretching bulk cargo trains after adding ~10% more cars to their locomotives from a year ago.
- CSX says it expects to continue to gain market share and command strong prices, and the automotive industry should continue to boost shipments by rail, but chemicals will be lower in Q4, with crude oil volumes falling by at least 25% Q/Q, and metals will continue to be hit as a strong dollar fuels imports and domestic production falls.
- CSX says its core pricing rose 4.4% during Q3; "we continue to see a good pricing environment out there," Ward says.
Tue, Oct. 13, 4:05 PM
Thu, Aug. 27, 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
Tue, Jul. 14, 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.
Tue, Jul. 14, 4:07 PM
Thu, May 14, 10:04 AM
- Railroad stocks are tilting lower after Kansas City Southern pulls its 2015 guidance at an investor conference.
- Investors are taking a cautious approach to Union Pacific (UNP -0.3%), Genesee & Wyoming (GWR -2.2%), Norfolk Southern (NSC -0.6%), CSX Corporation (CSX -0.1%), Canadian National Railway (CNI -0.5%), and Canadian Pacific (CP -0.3%) off the warning from Kansas Southern.
- Safety concerns also continue to linger in the sector which is seen as a development that could put some pressure on spending and investments.
- Previously: Kansas City Southern -3% after pulling guidance
Mon, May 4, 1:08 PM| Mon, May 4, 1:08 PM | 5 Comments
Tue, Apr. 14, 5:36 PM
Tue, Apr. 14, 4:13 PM
- CSX (NYSE:CSX) reports it grew operating income by 14% in Q1 as growth across markets offset the impact of a strong U.S. dollar and lower fuel recoveries.
- Total merchandise volume was up 2% during the quarter to 690K units.
- Coal volume -1% to 289K units.
- Intermodal volume +1% to 655K units.
- Operating ratio +330 bps to 72.2%.
- A new $2B share repurchase program has been approved.
- Previously: CSX beats by $0.01, misses on revenue
- CSX +4.3% after hours.
Tue, Apr. 14, 4:03 PM
Mon, Apr. 13, 5:39 PM
Mon, Mar. 23, 10:02 AM
- Weak guidance from Kansas City Southern is taking down some peers on fears of a drop in energy segment revenue.
- There is also concern in the sector on tighter regulations after an increase in accidents.
- Previously: Kansas City Southern lowers 2015 revenue outlook (Mar. 23 2015)
- Decliners: Union Pacific (NYSE:UNP) -2.0%, Norfolk Southern (NYSE:NSC) -1.1%, Genesee & Wyoming (NYSE:GWR) -1.0%, CSX (NYSE:CSX) -1.2%, Canadian Pacific (NYSE:CP) -1.4%, Canadian National Railway (NYSE:CRI) -1.0%.
Tue, Jan. 13, 4:48 PM
- CSX (NYSE:CSX) says it saw strong growth rates for coal, intermodal, and merchandise in Q4.
- The quarter was strong enough to propel CSX to all-time annual revenue mark of $12.7B.
- Operating ratio +140 bps to 71.8% in Q4.
- Guidance: CSX expects double-digit EPS and margin expansion in 2015.
- CSX +1.01% after-hours.
- Previously: CSX EPS in-line, beats on revenue
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