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What Analysts Expect for CSX in 3Q17

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What Analysts Expect for CSX in 3Q17 PART 1 OF 7

How CSX Stock Has Performed This Year

CSX’s 3Q17 earnings

CSX (CSX), a NASDAQ-listed well known Eastern US rail carrier, will release its 3Q17 earnings on October 16, 2017, at 4:00 PM EST. The company will hold an earnings conference call at 8:30 AM EST the next day to discuss 3Q17 operating and financial results. CSX will be the first Class I railroad to release results. Railroads’ 3Q17 results will be particularly important given the uncertainty about the extent of the impact from Hurricane Irma and Hurricane Harvey.

How CSX Stock Has Performed This Year

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CSX’s stock performance

On July 5, 2017, CSX’s stock hit its 52-week high at $55.3 per share. The market sentiment is high for the stock right now. In the last one year, CSX delivered a return of 70.1%, whereas archrival Norfolk Southern (NSC) stock fetched half of its rival’s returns. Here are the peer group returns during the same period:

  • Union Pacific (UNP): 16.2%
  • Kansas City Southern (KSU): 13.2%
  • Canadian National Railway (CNI): 21.1%
  • Canadian Pacific (CP): 8.7%
  • Genesee & Wyoming (GWR): 6.3%

The Industrial Select Sector SPDR Fund (XLI), which holds ~22% in US railroads and airlines, rose 24.6% in the same timeframe.

Management guidance

On September 6, 2017, CSX issued a press release regarding the progress of Precision Scheduled Railroading implementation. In that press coverage, the company’s CFO, Frank Lonegro, stated, “in light of various operating challenges in July and August 2017, the Company is refining its 2017 full-year guidance from an operating ratio in the mid-60s to an operating ratio around the high end of the mid-60s and earnings per share growth from around 25 percent to a range of 20-25 percent, in each case after excluding restructuring charges.”

In this pre-earnings series on CSX, we’ll go through analysts’ estimates of its 3Q17 revenues.

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