(Source: Motley Fool, April 12, 2016)
NEW YORK — Railroads have been a casualty of the rapid change in the energy markets, with the emergence of cheap natural gas putting a huge dent in the demand for rail shipments of coal. CSX and Norfolk Southern have substantial exposure to the coal-rich Appalachian region, and coming into CSX’s first-quarter financial report Tuesday, investors had expected that the company would continue to see earnings and revenue declines. CSX delivered on that front, and it sees ongoing tough times likely to last throughout 2016. Let’s look more closely at the latest from CSX and what it said about the railroad’s future.
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