Does the rollover in rail stocks signal a recession is looming? Find out from CSX Chief Michael Ward.
What are you seeing as a trend?
“We’re seeing in Q4 that revenues are up but volumes are slightly down,” says Ward. “And as we look forward into ’08 we see a mixed bag. Overall we anticipate modest increase in volume and nice increase in revenue. “
He adds, “But we’re expecting great growth in the coal market especially in the export market. The value of the dollar and the ocean freight rates have made American coal very attractive in Europe. In addition we’re seeing great growth in the ethanol business.”