First Trust Industrials/Producer Durables AlphaDEX Fund
Will CSX’s 4Q16 Operating Margin Exceed Analysts’ Estimates?
For CSX Corporation (CSX), Reuters-surveyed analysts estimate an operating margin of 30.5% for 4Q16, compared to an operating margin of 28.4% in 4Q15.
Kocherlakota said the FOMC could have done more for labor markets
In evaluating the FOMC’s performance over the past three years, Kocherlakota mentioned that the unemployment rate fell to 5.6%.
Why Norfolk Southern’s 3Q17 Operating Margins Took the High Track
In 3Q17, Norfolk Southern’s (NSC) operating margin expanded 160 basis points to 34.1%, up from 32.5% in 3Q16.
Why Did Genesee & Wyoming Fare So Poorly in Its Peer Group?
On March 8, 2016, Genesee & Wyoming’s (GWR) market capitalization was ~$3.5 billion. The railroad industry had a bad 2015, and GWR was not immune.
How Do Analysts View CSX after Its 3Q16 Results?
CSX’s heavy investment in its intermodal business and network improvement will most likely show results in 1H17.
This Railroad Led in First-Quarter Intermodal Revenue Growth
Norfolk Southern (NSC), an Eastern US railroad, reported the highest intermodal revenue growth of 19% YoY among its peers in the first quarter.
Why JBHT’s Balance Sheet is Cleaner than the Railroads’
J.B. Hunt (JBHT) predominantly uses debt for the purchase of revenue equipment. Usually, a truck is replaced in four years. However, the company didn’t replace trucks purchased from 1998–2000.
Why Did Norfolk Southern’s Intermodal Volumes Rise?
Norfolk Southern’s intermodal volumes Norfolk Southern’s (NSC) total intermodal traffic rose 6.9% in the week ended January 28, 2017. Volumes in the reported week reached above 76,000 containers and trailers, compared with nearly 72,000 in the week ended January 30, 2016. NSC’s container traffic rose 6%, from ~65,000 units in the week ended January 30, […]
Inside Norfolk Southern’s Railcar Traffic Mix in Week 7
Norfolk Southern’s intermodal volumes were up 8.3% in the seventh week of 2018.
How Fast Did CP’s Domestic Intermodal Volume Fall?
For the week ended March 12, 2016, Canadian Pacific (CP) reported a nearly 12% fall in domestic intermodal volume to 8,382 units.
Intermodal Volumes Boosted CNI’s Rail Traffic Growth in Week 36
Out of all class I railroads, Canadian National Railway was the only to report a YoY carload volume decline in week 36.
Is NSC’s Intermodal Volume Growth Keeping Pace with Peers?
Norfolk Southern’s (NSC) total intermodal traffic rose 2.4% in the week ended March 11, 2017.
Why Did Norfolk Southern’s Intermodal Volumes Rise in the Week?
Norfolk Southern’s intermodal traffic rose slightly for the week ended August 20, 2016. Volumes in the reported week were nearly 77,000 containers and trailers.
How Norfolk Southern’s Shipments Trended in Week 9
In the week ended March 3, 2018, Norfolk Southern saw a ~2% fall in carload traffic. It hauled ~67,700 carloads in the week.
Norfolk Southern’s Intermodal Volumes in Focus
Norfolk Southern’s (NSC) total intermodal traffic rose slightly by 2.9% in the week ended August 27, 2016.
Why Norfolk Southern’s Intermodal Volumes Slumped in the First Week of 2017
NSC’s total intermodal traffic fell 13.4% in the first week of 2017. Volumes reached ~60,000 containers and trailers, as compared to ~70,000 one year ago.
Norfolk Southern: Chasing Its Intermodal Volumes in Week 13 of 2017
NSC’s rise in trailer volumes appears to mark the end of its hardship due to its restructuring of TCS (Triple Crown Services), its underperforming subsidiary.
Norfolk Southern: The Top in Week 41 Intermodal Traffic Growth
Eastern US rail carrier Norfolk Southern (NSC) registered a 3.1% YoY (year-over-year) slump in carload traffic.
Diversified Gold Exposure with the VanEck Vectors Gold Miners ETF
The rationale behind choosing the passively managed approach is evident in the genesis of GDX, which launched in 2006 as the first gold miners ETF offered in the U.S.
How Is CSX Valued by the Market ahead of 3Q16?
CSX’s current forward PE multiple is 16.2x. The peer group’s forward PE multiple is 17.6x. This translates to a discount of 8%.
Why Analysts Reduced 2016 Revenue Estimates for Delta Air Lines
For 1Q16, analysts are estimating Delta Air Lines (DAL) revenues to decline by ~1.5% YoY (year-over-year) to about $9.3 billion.
How to Make Sense of Manufacturing PMI as an Economic Indicator
Although manufacturing accounts for just 16% of global GDP, manufacturing activity remains a key leading indicator for cues about the health of the economy.
The Uptrend in Norfolk’s Rail Traffic Continued in Week 52
Norfolk Southern (NSC) reported an 11% YoY increase in its rail traffic volumes in Week 52 driven primarily by robust growth in carloads and intermodal units.
Norfolk Southern’s Rail Traffic Grew in Week 47
Norfolk Southern (NSC) reported 4.4% YoY growth in its rail traffic volume in week 47. The company hauled 134,716 total cars.
Norfolk Southern’s Carload Traffic Plunged over 6% in Week 46
Norfolk Southern (NSC) reported a 2.2% YoY fall in its rail traffic volume in week 46.
Comparing Norfolk Southern’s Traffic to the Industry’s in Week 42
Eastern US railroad company Norfolk Southern (NSC) reported a 3.3% YoY (year-over-year) fall in its carload traffic in Week 42.
UPS: What Led Its Supply Chain and Freight Growth in Q3 2018?
United Parcel Service’s (UPS) Supply Chain & Freight vertical accounts for ~20% of its total revenues.
J.B. Hunt: Truckload Segment’s Third-Quarter Revenues
The Truck segment’s revenues expanded 14% in the third quarter to $106.0 million from $93.0 million in the third quarter of 2017.
Carloads Pulled Down Norfolk Southern’s Traffic Growth in Week 39
In week 39, Norfolk Southern recorded a 1.9% YoY (year-over-year) fall in carload traffic.
How Railroads’ Free Cash Flow Stacks Up
Free cash flow (or FCF) is an important metric in the railroad (FXR) industry.
Analyzing GE Transportation’s India Order
General Electric (GE) Transportation made a key announcement at Berlin’s InnoTrans 2018 International Trade Fair on September 19.
Trinity Industries to Unlock Value in Arcosa, Board Okays Separation
Trinity Industries (TRN) is a major rail transportation solution provider in the United States. On September 25, the company announced that its board has approved the separation of its infrastructure-related businesses.
Ryder System Consolidates Position with New Maintenance Facility
On September 20, Ryder System announced the opening of a new full-service maintenance facility in Reading, Pennsylvania.
Unfolding Genesee & Wyoming’s Europe Traffic Slump in August
In August, Genesee & Wyoming’s (GWR) rail traffic in Europe reported a 1.8% year-over-year decline.
Inside FedEx Express’s First-Quarter Revenue Growth
The FedEx Express segment accounts for the lion’s share in the company’s total revenue.
Southwest Airlines’ Utilization Declined in August
In August, Southwest Airlines’ (LUV) utilization declined 0.6% YoY (year-over-year) to 84.3% as traffic growth lagged capacity growth.
Southwest Airlines’ Capacity: Growth Slower Than Guidance
In August, Southwest Airlines’ (LUV) capacity increased 2% YoY (year-over-year) after recording growth of 3.2% in July.
Why Genesee & Wyoming’s UK-European Rail Traffic Slumped in July
Genesee & Wyoming’s (GWR) UK-European total railcar volumes declined 1% YoY (year-over-year) in July.
Why Genesee & Wyoming’s European Shipments Slid in June
In June, Genesee & Wyoming’s (GWR) UK and European rail traffic volumes slumped 14.6% YoY (year-over-year).
Understanding C.H. Robinson’s Global Forwarding Business
C.H. Robinson Worldwide’s (CHRW) Global Forwarding business provides ocean and air freight services and customs brokerage through its contracts with independent agents and its global network of offices.
How Is FedEx Progressing in the TNT Express Integration?
FedEx (FDX) expects TNT Express integration expenses to be ~$450.0 million for fiscal 2019.
What’s behind FedEx Express’s Revenue Growth?
In this article, we’ll consider FedEx’s (FDX) Express segment’s performance in the fourth quarter.
Inside Analysts’ Views on XPO Logistics and Its Peers
In this article, we’ll look at analysts’ recommendations for XPO Logistics (XPO).
Why US Manufacturing Activity Fell in March
The manufacturing sector continues to expand despite the minor drop recorded in March.
What Are the Reasons behind Improved Projections for US GDP?
Policy changes announced in the last six months may have led to the increased projection for economic growth.
Canadian National Railway: Commodities that Pulled Down Carloads in Week 7
CNI noted an 8.0% gain in intermodal volumes in the seventh week of 2018.
Analyzing Genesee & Wyoming’s Carloads in January
In January 2018, Genesee & Wyoming’s (GWR) combined carloads from all of the reporting segments fell 0.6%—compared to January 2017.
What Drove the ISM New Orders Index to a 13-Year High?
The ISM publishes a monthly manufacturing report on changes in new orders, supplier deliveries, inventories, production, and employment.
What’s Driving JetBlue Airways?
JetBlue Airways’ (JBLU) operating revenue grew 3% and 5% in 2016 and 9M17, respectively.
Could Norfolk Southern Deliver on Operating Margins in 4Q17?
Analysts surveyed by Thomson Reuters expect the company to report an operating margin of 31.4% in 4Q17.
Analyzing the Institute of Supply Management’s New Orders Index
The Institute of Supply Management’s New Orders Index The ISM’s (Institute of Supply Management) New Orders Index is a monthly report on changes in new orders, supplier deliveries, inventories, production, and employment. New orders are a measure of future activity in any industry (VIS), as companies’ production depends on incoming orders. The ISM’s New Orders […]
The Effects of Flat Manufacturing Production Hours
The average work week The US Bureau of Labor Statistics’ establishment survey includes data on the number of hours worked by manufacturing employees. Changes in the number of working hours help investors assess the health of the sector. A rise in the number of working hours signals that companies are projecting higher demand in the manufacturing sector […]
Spirit Airlines to Continue Aggressive Expansion in 2018
Spirit Airlines’ (SAVE) capacity is expected to increase 17.5% YoY in the fourth quarter of 2017, leading to a 2017 capacity growth of about 16.5%.
Why FedEx Freight’s Revenues Grew in Fiscal 2Q18
FedEx (FDX) Freight’s fiscal 2Q18 revenues rose 10.3% to ~$1.8 billion in fiscal 2Q18 from $1.6 billion in the second quarter of fiscal 2017.
Strength of the Manufacturing Sector: Purchasing Managers’ Index
This has been one of the best years since 2004 for manufacturing activity, viewed through the Purchasing Managers’ Index (or PMI).
Alaska Air’s 3Q17 Performance: Short-Term Challenges Come to Light
ALK’s 3Q17 net income fell 3.9% YoY to $266.0 million, leading to earnings per share (or EPS) of $2.24 and missing analysts’ estimates of $2.26 per share.
What Caused the Fall in Manufacturing Activity in October?
The US Manufacturing PMI (purchasing managers’ index) for the month of October fell to 58.7, compared with 60.8 in September.
Behind Genesee & Wyoming’s Rising North American Revenues in 3Q17
Genesee & Wyoming’s North American revenues contribute ~55.0% of its overall operating revenues. In 3Q17, North American revenues totaled $318.9 million.
What the Fall in Manufacturing Production Hours Means
According to the latest data, in September 2017, the average working hours for production workers decreased from 42.0 in August to 41.8 in September.
Could Delta Air Lines Pay Huge Tariffs on Bombardier Jets?
In December 2016, Delta Air Lines (DAL) placed an order for 75 CS100 Bombardier jets. This huge order was the first for these jets and a huge relief for Bombardier.
Will CSX Manage to Beat Analysts’ Earnings Estimate in 3Q17?
On a sequential basis, CSX’s adjusted EPS is expected to fall 12% in 3Q17.
Will the TNT Cyberattacks Impact FedEx’s Planned Capital Expenditure?
In fiscal 1Q18, FedEx’s (FDX) incurred $1.04 billion in capital expenditure or capex, representing 6.8% of that quarter’s total revenues of $15.3 billion.
Spirit Airlines’ Utilization Fell for an 11th Consecutive Month
After five months of improvement in capacity utilization, Spirit Airlines (SAVE) is back to its old ways. The carrier’s capacity growth has outpaced traffic growth…
What Hamstrung FedEx Express’s Revenue Growth?
In fiscal 1Q18, FedEx’s (FDX) Express segment’s overall revenues totaled $8.6 billion, compared with $8.5 billion in fiscal 1Q17.
What Workers’ Average Weekly Hours Say about Manufacturing
Manufacturing activity continues to remain robust Activity in the manufacturing sector (FXR) continues to remain impressive and promising. The best way to measure the health of this sector is by observing changes in manufacturing employees’ number of working hours. This data is released by the US Bureau of Labor Statistics every month, after its establishment […]
A Look at the Conference Board Leading Economic Index in July
The Conference Board Leading Economic Index (or LEI) is one of three composite business cycle indicators released by the Conference Board. In this series, we’ll analyze each component of the LEI and its implications for different sectors.
Why Wall Street Has a ‘Buy’ Mandate for Genesee & Wyoming
There are 12 analysts covering Genesee & Wyoming (GWR) stock. Of those, five analysts (or 42.0%) have a “strong buy” opinion on the stock.
Genesee & Wyoming’s North American Revenues in 2Q17
In 2Q17, GWR’s North American revenues were $315.7 million, a 3.6% rise from $304.6 million in the same quarter last year.
What Are Analysts Estimating for Spirit Airlines in 2017?
For 3Q17, Spirit Airlines’ (SAVE) sales are expected to rise 21.7% year-over-year (or YoY) to $756.4 million.
Why Should Investors Pay Attention to Spirit Airlines’ Leverage?
Spirit Airlines (SAVE) had no debt until 4Q14. Debt rose to $646 million at the end of 2015 and $981.7 million at the end of 2016.
How Flight Cancellations Affected Spirit Airlines’ Margins in 2Q17
For 2Q17, Spirit Airlines’ adjusted operating profit improved 8.9% year-over-year (or YoY) to $132.7 million.
How Pilot Strike Affected Spirit Airlines in 2Q17
In early May, Spirit Airlines (SAVE) ended up canceling more than 300 flights due to the pilot strike.
Southwest Airlines Is Reducing Leverage: What That Means
Southwest Airlines’ (LUV) debt level has remained almost constant for nearly three years at an average of $3.0 billion.
Why CSX’s Merchandise Segment Revenues Slid in 2Q17
CSX’s (CSX) Merchandise segment revenues expanded 1% to $1.8 billion in 2Q17.
What to Expect from JetBlue’s Revenue Growth
JetBlue Airways’ (JBLU) revenue fell almost 0.7% year-over-year (or YoY) in the first quarter.
How Delta’s Valuation Multiple Stacks Up Compared to Peers
Delta Air Lines (DAL) is currently valued at 5.8x its forward EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) multiple.
Will Delta’s Margin Expansion Continue?
Delta Air Lines’ (DAL) cost per available seat mile excluding fuel and including profit sharing (or CASM-ex) rose 7.3% year-over-year (or YoY).
Inside Norfolk Southern Trailers and Containers in Week 27
NSC overall intermodal volumes declined 0.3% YoY in the week ended July 8, 2017, moving over 64,000 containers and trailers for the period.
Understanding CSX’s Valuation among Peers ahead of Its 2Q17 Results
On July 5, 2017, CSX’s (CSX) stock reached a 52-week high of $55.3 per share.
Can CSX Beat Analysts’ EPS Estimates in 2Q17?
The analysts surveyed by Reuters estimate that CSX (CSX) will see EPS of $0.6 in 2Q17. On a YoY basis, this would mean a 35% rise.
What Happened to Norfolk Southern’s Intermodal Traffic in Week 26?
In the 26th week of 2017, Norfolk Southern (NSC) saw its overall intermodal volumes expressed containers and trailers grow 8.9%.
What Delta Air Lines’ Debt Position Means for Investors
During 1Q17, Delta Air Lines’ (DAL) debt rose by ~$2 billion at a blended interest rate of just 3.3%.
Will Lyft Partnership Boost Delta’s Revenue Growth?
In another innovative effort, Delta Air Lines (DAL) has partnered with Lyft.
Unit Revenue Growth Finally Looking Up for Delta
Delta Air Lines’ (DAL) revenue is expected to rise 3.0% year-over-year (or YoY) to $10.8 billion in 2Q17.
Comparing Norfolk’s Intermodal Volumes with the Industry’s
In the week ended June 24, 2017, Norfolk Southern (NSC) reported a 3.8% rise in its overall intermodal volumes.
Inside SAIA’s LTL Operating Metrics during 2Q17
SAIA reported an 8.4% rise in LTL shipments per workday in May 2017. The company’s LTL tonnage per workday also rose 7.5% compared to May 2016.
Behind Norfolk Southern’s Intermodal Volumes in Week 24
Norfolk Southern’s overall intermodal traffic rose 6.8% in the week ended June 17, 2017. The company’s intermodal volumes reached ~80,000 containers and trailers.
Understanding FedEx’s Fiscal 2018 Capital Expenditure
Earlier, we discussed FedEx’s (FDX) segmental and corporate operating margins in fiscal 4Q17. Now, let’s take a look at the company’s capital expenditure (capex).
Improved Yield Led Growth in FedEx’s Fiscal 4Q17 Freight Revenue
In this article, we’ll study the company’s Freight segment’s fiscal 4Q17. The segment’s revenue rose 5.7% to $1.7 billion in the quarter, compared to $1.6 billion in fiscal 4Q16.
Higher Package Yield Drove FedEx’s Express Segment’s Revenue
In fiscal 4Q17, FedEx’s (FDX) Express segment’s total revenue was $7.1 billion, compared to $6.7 billion in fiscal 4Q16, a year-over-year (or YoY) rise of 6.9%.
Norfolk Southern: Rise in Trailers Led Intermodal Growth in Week 23
Norfolk Southern’s (NSC) total intermodal traffic rose 5.3% in the week ended June 10, 2017.
Is Spirit Airlines’ Passenger Demand Sufficient to Fill Its Additional Capacity?
Spirit Airlines’ (SAVE) traffic grew 6.6% YoY (year-over-year) in May 2017—much slower than its 9.0% YoY capacity growth for the same month.
Spirit Airlines’ Capacity Is Growing the Fastest among Peers
In May 2017, Spirit Airlines’ (SAVE) capacity grew 9.0% YoY, which was slower than its 12.9% YoY growth in April 2017.
Is American Airlines Keeping up with Its Capacity Growth?
For May 2017, American Airlines’ (AAL) traffic grew 2.6% YoY (year-over-year), which was slightly higher than its capacity growth of 2.6% YoY.
How Is United Continental Handling Its Customer Service Fiasco?
United Continental (UAL) has lately been in the news for all the wrong reasons.
How Is United Continental’s Increased Capacity Growth Plan Affecting the Industry?
Airlines’ history of destroying capital has made investors wary of the industry.
How Norfolk’s Intermodal Volumes Compared to CSX’s in Week 19
Norfolk Southern’s (NSC) total intermodal traffic rose 8% in the week ended May 13, 2017. Its volumes reached ~72,000 containers.
Norfolk Southern: Inside Its Intermodal Growth in Week 18
Norfolk Southern’s (NSC) total intermodal traffic rose 4.3% in the week ended May 6, 2017. Its volumes reached ~78,000 containers.
Comparing Norfolk Southern’s Intermodal Traffic with CSX’s
Norfolk Southern’s intermodal traffic Norfolk Southern’s (NSC) total intermodal traffic rose 6.5% in the week ended April 29, 2017. Its volumes reached ~78,000 containers. Norfolk’s container traffic rose 5.6%, and its trailer traffic rose 15.6% YoY (year-over-year) to nearly 6,900 units, compared with 5,900 units in the week ended April 30, 2016. Since the beginning of […]
Behind Norfolk Southern’s Intermodal Traffic Rise in Week 16
Norfolk Southern’s (NSC) total intermodal traffic rose a marginal 1.2% in the week ended April 22, 2017. Its volumes reached more than 74,000 containers.