Railroad earnings calls

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David Collins
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Railroad earnings calls

Unread post by David Collins »

I invest in wall street quite a bit, so I'm always looking at earnings/losses for whatever companies I have shares in, so I thought, why not start a thread for railroad earnings calls?

I won't be posting everything seen in the calls, only stuff that I find interesting, and the remarks the CEO's made.

CSX announced theirs alongside Union Pacific today.

What's noteworthy is UP had a record Q3, with 3rd quarter net income at $2.0 billion. Shares were up $0.62 compared to Q3 last year, at $3.19 per diluted share.

UP's CEO, Lance Fritz, made the following remarks:

“We made positive strides in the third quarter to increase network fluidity and better meet customer demand,” said Lance Fritz, Union Pacific chairman, president, and chief executive officer. “Inflationary pressures and operational inefficiencies continued to challenge us. We reported strong revenue and operating income growth in the quarter through increased fuel surcharge revenue, volume gains, and solid core pricing. As we close out 2022, we will maintain strong price discipline while improving efficiency and service to capitalize on the available demand.”

CSX had a good Q3 too, with net earnings of $1.11 Billion, compared to $968 million from Q3 2021. Shares were up $0.52 compared to last year's Q3. The new President and CEO of the Jacksonville-based Class 1, Joe Hinrichs had this to say:

“I would like to thank Jim Foote and the entire CSX team for delivering another quarter of solid earnings growth, I am tremendously excited to work with all the railroaders who make this performance possible and to lead an organization that is fundamentally committed to operational excellence. CSX has great potential for profitable growth over the long-term, and my key objective is to help ensure that we realize this opportunity while building a robust organization that will help drive additional value for our customers, our employees, and our shareholders.”

The other class 1's not mentioned are having their earnings calls on the 26th.

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