Rail Sector Sinks on Norfolk Southern Earnings Warning (CNI, CP, CSX, KSU, NSC, UNP)
September 20, 2012 by Trey Thoelcke
The rail sector has taken a hit this morning after Norfolk Southern Corp. (NYSE: NSC) warned late yesterday that its third-quarter earnings will fall well below expectations.
Norfolk Southern now expects earnings of between $1.18 and $1.25 per share for the quarter that ends this month. That is well below the $1.64 per share that analysts surveyed by Thomson Reuters were expecting, as well as below the $1.59 per share in last year’s quarter.
The company blamed the disappointing results on lower shipments of merchandise and of coal, as well as fuel surcharges that have not kept up with price increases.
Norfolk Southern is down more than 7% to $67.10, in a 52-week range of $57.57 to $78.50.
Union Pacific Corp. (NYSE: UNP) is down about 3% to $121.32, in a 52-week range of $77.73 to $129.27.
CSX Corp. (NYSE: CSX) is down almost 4% to $21.92, in a 52-week range of $17.69 to $23.71.
Canadian National Railway Co. (NYSE: CNI) is down more than 3% to $90.56, in a 52-week range of $61.82 to $94.83.
Canadian Pacific Railway Ltd.(NYSE: CP) is down less than 3% to $83.03, in a 52-week range of $44.74 to $88.23.
Kansas City Southern (NYSE: KSU) is down almost 3% to $76.91, in a 52-week range of $46.89 to $83.95.
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.