...June 3, 2024 We expect CSX's reported 2024 revenue to grow 1%-2% because of improved merchandise and intermodal conditions. While its intermodal carloads for the first quarter of 2024 grew 7% year over year, pricing remains low as trucking continues to remain competitive, contributing to revenue per carload declining 5%. We expect pricing to remain relatively flat throughout the year, but we expect intermodal carload growth of about 2% to enable similar revenue growth. We believe its merchandise segment will perform slightly better and expect revenue to grow about 3%-4%. Although we expect similar merchandise carload growth at its intermodal segment of about 2%, we believe revenue per carload won't be affected by the same pricing constraints as its intermodal segment currently faces and expect revenue per carload to grow 1%-2%. On the other hand, coal revenue is expected to decline 4%-5% from a 3% decline in carloads. The weaker demand for coal is attributed to low liquefied natural gas...
