uploads///NSC_Class I railroads Change in Carloads

What Can We Expect from Norfolk Southern’s 3Q16 Earnings?

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Dec. 4 2020, Updated 10:53 a.m. ET

Norfolk Southern’s 3Q16 earnings

Virginia-based Norfolk Southern (NSC) is set to announce its 3Q16 earnings on October 26, 2016. That day, NSC will also hold a conference call to discuss its 3Q16 results.

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Relative change in NSC’s carloads 

As shown in the above graph, in 3Q16, NSC’s carloads fell 4.1%, whereas rival CSX (CSX) saw its carloads decrease 8.7%. The percentage change in NSC’s carloads was the second lowest in the peer group, with Canadian Pacific’s (CP) carloads decreasing by 2.8% in 3Q16. Union Pacific (UNP) saw a 6% decline in its 3Q16 carloads, Berkshire Hathaway–owned BNSF Railway (BRK-B) reported a 5.4% fall, and Genesee & Wyoming’s (GWR) carloads fell -4.5%.

Transportation sector investors could opt for the Industrial Select Sector SPDR ETF (XLI). All major US railroads make up 8.8% of the portfolio holdings of XLI.

In this series

Recently, Bank of America Merrill Lynch upgraded NSC’s rating from “neutral” to “buy.” In this series, we’ll analyze analysts’ estimates for Norfolk Southern’s revenues and margins, and look at their recommendations for NSC and its peers.

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