Rail traffic fell

Norfolk Southern’s (NSC) rail traffic fell 5.3% YoY (year-over-year) in Week 24. The company hauled 149,404 railcars during the week—compared to 157,689 wagons in Week 24 of 2018.

Norfolk Southern’s Rail Traffic Performance in Week 24

Among the seven Class I railroad companies, six registered volume declines during the week. Union Pacific (UNP) reported the highest fall of 6%, while Canadian Pacific Railway (CP) was the only gainer. Canadian Pacific Railway reported volume growth of 0.8%.

Norfolk Southern’s carload traffic fell 3.7% YoY to 68,193 railcars from 70,785 railcars. The carload volumes, excluding coal and coke, fell 3.5% YoY to 48,240 units. The company’s coal and coke traffic fell 4.1% YoY to 19,953 units from 20,807 units. Norfolk Southern registered carload traffic declines across most of the commodity groups, except for crushed stone, sand, grain, iron and steel, and metallic ores.

During Week 24, four out of seven Class I railroad companies recorded carload traffic declines. Union Pacific reported the highest fall of 5.1%. Kansas City Southern (KSU) and CSX (CSX) were the only railroad companies that recorded carload traffic growth of 2.4% and 3.3%, respectively. Canadian National Railway (CNI) recorded flat carload volumes.

Intermodal volumes

Norfolk Southern’s intermodal volumes fell 6.6% YoY to 81,211 containers and trailers—compared to 86,904 units in Week 24 of 2018. The company’s container volumes fell 3.8% YoY to 75,199 units from 78,172 units, while its trailer volumes fell 31.1% YoY to 6,012 units from 8,732 units.

During Week 24, six out of seven Class I railroad companies recorded lower intermodal unit volumes. CSX saw the highest volume decline of 11.5%, while Canadian Pacific Railway was the only gainer. The company reported intermodal volume growth of 5.8%.

Norfolk Southern stock has gained 31.9% year-to-date. The stock has outperformed the Industrial Select Sector SPDR ETF’s (XLI) returns. XLI, which has allocated 17.7% of its holdings to the freight and logistics services industry, has returned 19.7% in 2019.

Latest articles

Apple stock fell 4.6% as the US-China trade war intensified today. China warned of tariffs on more US goods, followed by Trump's tweeted response.

In response to new tariffs from China and President Trump's tweets, the market tanked to session lows on Friday. The DJIA nosedived more than 600 points.

Coverage on Cresco Labs has increased from seven analysts in July to nine in August. Six analysts favor a “strong buy,” and three recommend a “buy.”

AMD stock hit a new 13-year high after the EPYC Rome server CPU launched. How can AMD outperform Intel CPUs at such low prices and still profit?

VMware (VMW) lost about 9% in early hours trading today. VMW released its Q2 of fiscal 2020 results on August 22 after the market closed.

Since Netflix posted its Q2 results, its stock has fallen 18%. Could the streaming giant lose its disruptor position as new players enter the market?