Transportation
Rail Sector Sinks on Norfolk Southern Earnings Warning (CNI, CP, CSX, KSU, NSC, UNP)
Published:
Last Updated:
The rail sector has taken a hit this morning after Norfolk Southern Corp. (NYSE: NSC) warned late yesterday that its third-quarter earnings will fall well below expectations.
Norfolk Southern now expects earnings of between $1.18 and $1.25 per share for the quarter that ends this month. That is well below the $1.64 per share that analysts surveyed by Thomson Reuters were expecting, as well as below the $1.59 per share in last year’s quarter.
The company blamed the disappointing results on lower shipments of merchandise and of coal, as well as fuel surcharges that have not kept up with price increases.
Norfolk Southern is down more than 7% to $67.10, in a 52-week range of $57.57 to $78.50.
Union Pacific Corp. (NYSE: UNP) is down about 3% to $121.32, in a 52-week range of $77.73 to $129.27.
CSX Corp. (NYSE: CSX) is down almost 4% to $21.92, in a 52-week range of $17.69 to $23.71.
Canadian National Railway Co. (NYSE: CNI) is down more than 3% to $90.56, in a 52-week range of $61.82 to $94.83.
Canadian Pacific Railway Ltd.(NYSE: CP) is down less than 3% to $83.03, in a 52-week range of $44.74 to $88.23.
Kansas City Southern (NYSE: KSU) is down almost 3% to $76.91, in a 52-week range of $46.89 to $83.95.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
