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CSX: Rail Traffic Growth Continued for the Second Week

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Rail traffic

CSX’s (CSX) total rail traffic volumes rose 1% YoY (year-over-year) to 122,833 units in week 7. The company’s rail volumes improved for the second consecutive week. CSX and Canadian National Railway (CNI) were the only Class I railroad companies (IYT) that reported traffic growth YoY in week 7.

CSX’s carload traffic grew 1.7% YoY to 68,348 railcars (excluding intermodal units) from 67,232 railcars. The company’s carload traffic growth was the third-highest growth among Class I railroad companies. Canadian National Railway reported the highest gain of 8% in carload traffic, while Canadian Pacific Railway (CP) was the worst performer with an 8% decline.

CSX’s carload traffic, excluding coal and coke, which accounted for 77% of its total carload traffic in week 7, rose 0.7% YoY to 52,464 railcars from 52,123 railcars. The company’s coal and coke traffic increased 5.1% YoY to 15,884 units from 15,109 units in week 7 of 2018.

CSX reported a volume increase across most of its commodity groups. The company registered double-digit volume gains in grain, farm, forest, wood, stone, clay, and glass products. Food, metals, chemicals, metallic ores, and coke registered YoY volume declines.

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Intermodal traffic rebounded

After declining for three consecutive weeks, CSX’s intermodal traffic rebounded in week 7. The company’s intermodal volumes rose 0.1% to 54,485 units from 54,429 units. CSX’s container volumes fell 0.3% YoY to 52,228 units from 52,368 units, while its trailer traffic grew 9.5% YoY to 2,257 units from 2,061 units. Among the Class I railroad companies, Union Pacific (UNP) was the top performer with 2% growth.

In the first seven weeks of 2019, CSX reported cumulative volumes of 466,443 carloads—up 5.6% from the same period last year. However, the company’s intermodal units fell 3.6% YoY to 348,864 containers and trailers. CSX’s combined rail traffic in the first seven weeks of 2019 rose 1.4% YoY to 815,307 carloads and intermodal units—compared to the previous year.

Next, we’ll discuss Canadian Pacific Railway’s rail traffic performance.

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