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CSX Corporation (CSX)
NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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Solid 2Q earnings but rising cost pressures in 2H on labor
CSX reported 2Q21 adjusted EPS of $0.40, up 81% year-year, above our $0.36, and the
Street’s $0.37 estimate. GAAP EPS included a $349 million ($0.12/sh) benefit from the
sale of property to the Commonwealth of Virginia. Normalized results include an $18
million ($0.01/sh) benefit related to state fuel taxes and $18 million in other real estate
gains, a counter expense above our $5 million estimate ($0.01/sh). CEO Foote
highlighted the growth was in all segments (carloads up 27% y-y, and 4% sequentially, in
line with our forecast) and it has high demand for capacity from customers (yields were
up 5%, above our 2% forecast). Despite its strong results, CSX acknowledged that
congestion at yards, and issues with securing labor were weighing on service and
limiting volume growth. It is working to counter this pressure through hiring initiatives
and expects gradual improvement in network fluidity and service levels by year end. This
mirrors issues at other Class 1 rails, possibly signaling rising cost pressures. The
company reaffirmed its double-digit revenue growth outlook in 2021 (we were +11%,
now 16%), but notably left out its expectation for operating leverage on volume growth,
which it mentioned last quarter. We expect the acquisition of Quality Carriers to add 300
bps to full-year revenue growth (+6% on a full-year basis), but to also drag on margins.
Given a 100% OR from Quality’s revenues and rising costs, we look for approximately
300 bps of sequential OR deterioration in 2H21, from the 55.1% OR posted in 2Q21.
CSX big beat! Let's hope to hear about adding to the stock buyback or a dividend increase. GLTA!
Oh yeah bring on that earnings beat where oh where are the short sellers
CSX trades higher after Citi turns bullish on 2022 setup
Jun. 29, 2021 7:02 AM ETCSX Corporation (CSX)By: Clark Schultz, SA Ne
Citi upgrades CSX (NASDAQ:CSX) to a Buy rating from Neutral and calls its one of its favorite stocks in the rails sector along Norfolk Southern and Union Pacific.
Analyst Christian Wetherbee sees multiple tailwinds for the rails sector into 2022 as supply chain constraints ease and notes high truckload pricing will translate into better rail pricing in 2022 as contracts reset on a lag.
Citi points to established operating leverage and efficiencies for CSX and notes share buybacks could be supportive of EPS growth.
The firm assigns a price target of $116 off higher 2022 EPS estimates.
Shares of CSX are up 1.60% premarket to $32.28 vs. the 52-week trading range of $22.18 to $96.24.
This stock has gone up over 20% a year for the last 60 years.
CSX…long and strong 💪
Yahoo Finance Insights
CSX is up 4.91% to 33.12
Well I’m back in the game again. In at $31.98. Bought quite a few shares. Will monitor to see if I add. You never know. Wonder if the old haters are around from the last time I was here and held????
$28-$29 area I will add.
Ah, the split. The day traders got a dogballs easy push, and all you rubes got taken for a couple bucks.
Tomorrow, the sun will rise, y'all will wake up, and everything about the market will be brand new and the "first time" for everything all over again.
And the pros sincerely thank you for that.
A pair of shoes I love cost t $120....but I'm too poor to have nice things.
So I convinced the guy to sell me just the left one for $60.
Now I look pretty smart!!
i just read that June 29th will be the day ot trades split adjusted
CSX was a $31-32 stock before earnings. What is it now?
So hooray for Q2/21 earnings!
A report on the past, that the market pretty much already knew.
You know what moves stocks? New ideas to try in the future.
The stuff CSX doesn't have.
Congrats to the ex-CFO!!
Your creative, value-surfacing initiative of splitting CSX stock really lit a fire under it!
CSX has now gone from being an uninteresting $99 share to 3 uninteresting $33 shares.
All for the low cost to shareholders of several hundred thousand dollars.
Just excellent work.
Split the stock again!
It did more for the stock price than this. Well, for several days, anyway.
Long enough for some shrewd traders to make a quick buck from the rubes.
Buy and hold forever…not even Uncle Joe can stop this juggernaut!
Will Quality Carriers Q2 Revenue be added to the CSX Q2 Revenue numbers?
with the stock split what does that mean with my stock?
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