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CSX Corp. Message Board

  • save_n_investte save_n_investte Mar 7, 2014 8:14 AM Flag

    Ward is Optimistic on Coal Outlook

    From Cramer's column:

    CEO Michael Ward says he is optimistic about coal; he had expected flat volumes, but in the coming year, coal volumes may be positive. In recent quarters, CSX was losing revenue in coal, but was replacing the loss with growth in other sectors. About 6% of CSX's business is related to housing, so the increase in housing starts should be a tailwind. The increase in auto production is also a bright spot for the company, as well as a rise in production of chemicals. CSX is in the process of converting many of its locomotives to natural gas. Oil companies are using rail for transport, and Ward expects a 50% increase in the oil segment of the business this year. Cramer thinks CSX is going higher.

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