North America rail volumes move 1.1% higher in the latest weekly rundown
LeManna


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