CSX’s top line increased 9% year over year on the back of solid volume growth in merchandise and coal, higher fuel surcharge, and pricing gains. Total revenues of $3,706 million outperformed the Zacks Consensus Estimate of $3,599.1 million. Income from railway operations climbed 1% year over year to $1,098 million.ĬSX Corporation’s CSX first-quarter 2023 earnings of 48 cents per share beat the Zacks Consensus Estimate of 42 cents and improved 23.1% year over year. Total revenue per unit rose 8% year over year, driven by higher fuel surcharges and pricing. NSC’s top line increased 7.5% year over year, with all key segments, including merchandise and coal, registering improvements in revenues. Railway operating revenues were $3,132 million in the quarter under review, beating the Zacks Consensus Estimate of $3,099.8 million. Norfolk Southern Corporation’s NSC first-quarter 2023 earnings (excluding $1.28 from non-recurring items) of $3.32 per share beat the Zacks Consensus Estimate of $3.15 and improved 13.3% year over year. Q1 Performance of Some Other Transportation Companies You can see the complete list of today’s Zacks #1 Rank stocks here. Zacks Rank: Diana Shipping carries a Zacks Rank #3, currently. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. However, that is not the case here.Įarnings ESP: Diana Shipping has an Earnings ESP of 0.00% as the Most Accurate Estimate is in line with the Zacks Consensus Estimate of 19 cents. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of a positive surprise. Our proven model does not predict an earnings beat for Diana Shipping this time around. X The Santa Clara, Calif.-based company earned an adjusted 35 cents a share on sales of 86.3 million in the June quarter. This is because the shipping industry is responsible for transporting a high proportion of goods involved in world trade. IPHI stock was in record-high territory ahead of the Inphi earnings report. This is likely to aid the second-quarter results of shipping stocks like Diana Shipping. However, with the gradual resumption of economic activities, world trade is picking up the pace. High fuel costs are also likely to have shot up total expenses. The Zacks Consensus Estimate for first-quarter earnings is pegged at 19 cents per share, remaining unchanged over the past 60 days.Īgainst this backdrop, let’s examine the factors likely to have impacted DSX’s March-quarter performance.ĭiana Shipping’s first-quarter bottom-line performance is expected to have been hurt by higher vessel operating expenses, mainly due to the increase in the average number of vessels in its fleet. The shipping company has a stellar surprise record as its earnings surpassed the Zacks Consensus Estimate in each of the last four quarters. Diana Shipping DSX is scheduled to release first-quarter 2023 results on May 26, before market open.
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