- The Association of American Railroads (AAR) has reported US rail traffic down 3.1 Y/Y to 437,600 carloads and intermodal units for the week ending July 9, 2022 , also translating a sequential dip from 500,285 carloads and intermodal units announced last week.
- Total carloads for the week were 207,450, down 1.3% while intermodal volume was 230,150 containers and trailers, down 4.7% Y/Y.
- Overall, North America weekly rail traffic rose 1.1% Y/Y to 614,202 carloads and intermodal units , reflecting the combined volumes of U.S., Canadian and Mexican railroads.
- 4 of the 20 US carload commodity categories saw gains during the week, which included coal, up 2.8% to 60,105 carloads; farm products excl. grain, and food, up 7.2% to 15,705; motor vehicles and parts up 4% to 10,725; and non metallic minerals up 1% Y/Y.
- Commodities groups that posted decline comprises of metallic ores and metals, down 19.7% to 18,019 carloads; chemicals down 3.3% to 30,163; forest products down 2.7% to 9,410; and petroleum and petroleum products, down 3.3% to 9,395. Grains were almost flat to 17,031.
- Source: AAR Weekly Rail Traffic Report
- Canadian railroads reported 73,339 carloads for the week, up 14%, and 65,786 intermodal units, up 26.7%; Mexican railroads reported 21,974 carloads, down 2.6%, and intermodal units 15,503, down 9.1% Y/Y.
- Wolfe Research offered a broad review of transport stocks in a note to clients on Tuesday , including a number of upgrades and downgrades amid macroeconomic uncertainty. The research firm was most confident in anticipating earnings day beats from Canadian Pacific Railway ( CP ), however expects misses from CSX Corp. ( CSX ), and Union Pacific ( NYSE: UNP ).
- Other related tickers: Berkshire Hathaway ( NYSE: BRK.A , BRK.B ), Norfolk Southern ( NSC ), Brookfield Infrastructure Partners ( NYSE: BIP , BIPC ), and Canadian National Railway ( CNI ).
- See U.S. rails earnings preview: Watch for service and labor issues to be drag
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North America rail volumes move 1.1% higher in the latest weekly rundown