CSX Q3 Preview: Lower Fuel Expenses, Operating Efficiency To Partially Offset Weak Shipment Volumes

We expect weak shipment volumes across several commodities, particularly coal, and lower fuel surcharge revenues to negatively impact the company's revenues on a year-over-year basis. As per CSX's carload report for the third quarter ending September 26, the company's shipment volumes, including intermodal shipments, declined 2.3% year-over-year. The decline in coal shipments was particularly severe, with CSX reporting an 18.2% year-over-year decline in coal carloads. However, lower fuel expense...