JACKSONVILLE, Fla., Dec. 22, 2025 (GLOBE NEWSWIRE) -- CSX Corp. (NASDAQ: CSX) will release fourth quarter financial and operating results after the market close on Thursday, January 22, 2026. This will be followed by a conference call and live webcast hosted by the company’s management team at 4:30 p.m. Eastern Time. Those interested in participating via teleconference may dial 1-888-510-2008. Callers outside the U.S. may dial 1-646-960-0306. Participants should dial in 10 minutes prior to the call and use ...

Key Takeaways Expeditors has surged 32.6% in the past six months, outperforming the transportation-services industry.Earnings estimates for EXPD have moved higher, signaling growing confidence in its outlook.Expeditors posts consistent earnings beats and benefits from e-commerce-driven demand.Expeditors International of Washington, Inc. (EXPD) has performed well in the past year and has the potential to sustain the momentum in the future. If you have not taken advantage of its share price appreciation yet, ...

Aristotle Capital Boston, LLC, an investment advisor, released its “Small Cap Equity Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. In the third quarter, the small-cap equities delivered strong results with the Russell 2000 Index reaching its first all-time high since November 2021. A favorable macroeconomic backdrop led the rally. In the quarter, the fund (Class I-2) delivered a return of 3.16% underperforming the 12.39% total return of the Russell 2000 Index. For mo ...

Core Viewpoint - Expeditors International of Washington, Inc. (EXPD) has shown strong performance over the past year and is expected to maintain this momentum, making it an attractive investment opportunity [1]. Performance Overview - EXPD stock has gained 30.2% year-to-date, significantly outperforming the transportation-services industry, which has seen a decline of 0.1% [2][7]. - The company currently holds a Zacks Rank 1 (Strong Buy), indicating strong investment potential [4]. Earnings Estimates and Revisions - The Zacks Consensus Estimate for fourth-quarter 2025 earnings has increased by 12.5% over the past 60 days, while the current year's earnings estimate has been revised upward by 6.36% [5][10]. - EXPD has a positive earnings surprise history, surpassing the Zacks Consensus Estimate in each of the last four quarters with an average beat of 13.94% [9]. Growth Factors - E-commerce growth is a significant driver for Expeditors, leading to increased demand for intermodal services, which is expected to continue supporting the company's growth [10]. - The company's strong financial position enables it to pursue growth through acquisitions and reward shareholders with dividends and share buybacks [11].

Financial Data and Key Metrics Changes - Reported revenue for Q3 2025 was $934 million, a decrease of 5% year-over-year but an increase of 3% sequentially [12] - Adjusted operating income decreased by 4% year-over-year, with an adjusted operating income margin of 4.4%, up 10 basis points from the prior year [15] - Adjusted EPS for Q3 was $0.49, down from $0.52 in Q3 2024 [15][16] Business Line Data and Key Metrics Changes - ITS revenue was $561 million, slightly up from $560 million in the prior year, with a 2% growth in revenue per load [12] - Logistics segment revenue declined 13% year-over-year to $402 million, impacted by lower volume and revenue per load in brokerage [12][19] - Intermodal volumes showed a decline of 1% in Transcon, 2% in Local West, and 12% in Local East, while Mexico grew nearly 300% and refrigerated business grew 55% [7] Market Data and Key Metrics Changes - Strong West Coast shipping demand persisted into October, with expectations for continued strength into November [4] - The logistics segment faced a 13% revenue decline year-over-year, but operating margins improved by 10 basis points due to cost containment initiatives [8][19] - The brokerage segment experienced a 13% decline in volumes, with revenue per load down 5% [10] Company Strategy and Development Direction - The company is focused on strategic priorities, including acquisitions to enhance intermodal and Final Mile segments, and is optimistic about the potential merger between primary rail partners [5][6] - Investments in technology and automation are aimed at improving productivity and service offerings [82] - The company is managing for long-term growth and higher returns on capital while maintaining a disciplined approach to capital deployment [20] Management's Comments on Operating Environment and Future Outlook - Management noted a delayed peak season due to inventory impacts, with expectations for a more normalized seasonality in 2026 [3][35] - The company anticipates a challenging fourth quarter but remains focused on execution and achieving targeted cost savings [19][20] - Management expressed confidence in the potential for growth driven by new business onboardings and improved service offerings [19][24] Other Important Information - The company returned $36 million to shareholders through dividends and stock repurchases during the quarter [16] - The acquisition of Martin Transport's intermodal division and Smith Transport LLC was completed, adding scale to the intermodal and Final Mile segments [6][16] - The company expects full-year EPS in the range of $1.80 to $1.90 and revenue of $3.6 billion to $3.7 billion for 2025 [17] Q&A Session Summary Question: Insights on customer feedback regarding rail merger and share shifts - Management indicated that customer feedback is positive regarding the merger, with expectations of increased engagement and service opportunities as they approach the bid season [23][24] Question: Volume trends throughout Q3 and expectations for Q4 - Management reported a later peak than anticipated, with September up 6% and October month-to-date up 3%, expecting continued demand through November [25][26] Question: Use of cash and capital allocation strategy - Management emphasized a balanced approach to capital allocation, focusing on core business investments, acquisitions, and shareholder returns [27][28] Question: Impact of Martin acquisition on Q4 earnings - Management expects the Martin acquisition to be slightly accretive in Q4, with some startup costs impacting margins [40][41] Question: Competitive dynamics and market conditions - Management acknowledged increased competition but sees it as an opportunity to capture market share, particularly with the upcoming bid season [39] Question: Final Mile business ramp-up and housing market impact - Management noted that the housing market's recovery would significantly benefit the Final Mile segment, with new business onboarding progressing well [75][76] Question: Intermodal pricing perspective for 2026 - Management indicated that while the environment remains competitive, there is potential for improved pricing as customers seek to build resiliency into their supply chains [78]

Financial Data and Key Metrics Changes - Revenue, excluding fuel surcharge, increased by 2.4% year over year, while operating income declined by $31.1 million or 38.2% year over year due to $58 million of unusual items [16][18] - Adjusted EPS was $0.32 for 2025 compared to $0.34 for 2024, reflecting a 5.9% year over year decrease primarily due to a $10 negative impact from loss contingency and claims accrual [17][18] - The consolidated adjusted operating ratio was 93.8%, flat year over year and sequentially [17] Business Line Data and Key Metrics Changes - Truckload segment revenue declined by 2.1% year over year, driven by a 2.3% decrease in loaded miles, while adjusted operating income declined by $7.3 million or 15% year over year [21][24] - LTL business grew revenue, excluding fuel surcharge, by 21.5% year over year, with shipments per day up 14.2% [25][26] - Logistics segment revenue declined by 2.2% year over year, driven by a 6.2% decline in load count, but adjusted operating income grew by 1.9% year over year [29] Market Data and Key Metrics Changes - The LTL segment held steady at 20% of consolidated revenue, its highest share since entering this segment in 2021 [19] - Intermodal segment revenue declined by 8.4% year over year on an 11.5% decrease in load count, but adjusted operating ratio improved by 160 basis points year over year [31] Company Strategy and Development Direction - The company is adopting the AAA Cooper brand across its entire LTL business to enhance cohesion and operational efficiency [12] - The strategy includes leveraging technology to foster connectivity and increase market share by addressing network imbalances [19] - The company anticipates ongoing attrition in capacity due to regulatory enforcement and market dynamics, which could create favorable conditions for its truckload business in 2026 [11] Management's Comments on Operating Environment and Future Outlook - Management noted that freight markets are experiencing uncertainty, with shippers hesitant to take risks, but proactive discussions around peak season projects have increased [6][7] - The company is taking a cautious approach to expectations for the fourth quarter due to uncertainties in volume build [7] - Management expressed confidence in the potential for margin growth due to improvements in cost structure and operational efficiencies [11][12] Other Important Information - The company reported significant unusual items impacting GAAP results, including trade name impairments and higher insurance costs [14][15] - The effective tax rate on GAAP results was 47%, significantly higher year over year, while the effective tax rate on non-GAAP results was 29.6% [17] Q&A Session Summary Question: Clarification on adjusted EPS and fourth quarter demand - Management confirmed that the adjusted EPS of $0.32 reflects historical reporting practices and clarified that while there are peak projects underway, overall demand growth has not met typical seasonal expectations [88][90] Question: Insights on regulatory impacts on capacity - Management indicated that regulatory enforcement is beginning to affect capacity availability, with some states revoking non-domiciled CDLs, which could lead to tighter market conditions [43][46] Question: Discussion on LTL margins and future synergies - Management acknowledged softness in LTL demand but expressed optimism about upcoming bid opportunities and the potential for synergies between truckload and LTL operations [55][58]

Core Insights - CSX Corporation is a leading transportation company in the U.S. focused on rail-based freight transportation, operating an extensive rail network and competing with major rail companies like Union Pacific and Norfolk Southern [1] Financial Performance - CSX's Q3 2025 earnings report showed revenue of $3.59 billion, slightly missing year-over-year expectations but exceeding consensus estimates [3] - The adjusted earnings per share (EPS) for CSX was $0.44, surpassing estimates despite a $164 million goodwill impairment related to Quality Carriers; without this impairment, the adjusted EPS would have been approximately $0.51 [3] Market Position and Stock Performance - Cowen & Co. maintained a "Buy" rating for CSX, with the stock priced at approximately $36.84, and TD Cowen raised the price target from $38 to $39; the current stock price is $36.93, reflecting a 2.61% increase [2] - CSX's market capitalization is approximately $68.85 billion, with a trading volume of 4.41 million shares [4] Operational Efficiency - CSX has improved operational efficiency, with car miles per day increasing to 136.6 and enhanced fuel efficiency; the company has also expanded its intermodal services in the Northeast [4]

Company Strategy & Operations - The company is driving operational excellence and efficiency as a cornerstone of its growth strategy [9] - The company is leveraging its extensive reach across key regions of the US industrial base [9] - The company is building partnerships with customers, Class Is, and short lines [9] - The company is broadening its effective footprint with strategic investments [9] Revenue Diversification - The company has a diversified, industrial-centric revenue stream [10] - Automotive accounts for 16% of 2024 revenue [11] - Agriculture and Food accounts for 9% of 2024 revenue [11] - Minerals account for 22% of 2024 revenue [11] - Forest Products account for 6% of 2024 revenue [11] - Chemicals account for 12% of 2024 revenue [11] - Metals and Equipment account for 4% of 2024 revenue [11] - Coal accounts for 8% of 2024 revenue [11] - Intermodal accounts for 6% of 2024 revenue [11] - Fertilizers account for 17% of 2024 revenue [11] Industrial Development - The company is closely aligned to new industrial investment in the US [15] - There are nearly 600 active projects in the pipeline [17] - Over 250 new customer facilities or expansions have occurred since 2023 [17] Anticipated Benefits for 2026 - The company anticipates several discrete benefits for 2026 [18] - Completion of Howard Street Tunnel and Blue Ridge is expected to save ~$10 million per month in OpEx by eliminating rerouting costs [20]

Core Insights - United Parcel Service (UPS) and J.B. Hunt Transport Services (JBHT) have both announced dividend increases this year, demonstrating a commitment to shareholder returns despite economic uncertainties [1][3][10] - JBHT has shown better price performance compared to UPS, driven by intermodal growth and sustainability initiatives [8][10][19] Dividend Analysis - UPS raised its quarterly cash dividend to $1.64 per share ($6.56 annualized) from $1.63 ($6.52 annualized) [3] - J.B. Hunt increased its quarterly cash dividend by 2.3% to 44 cents per share ($1.76 annualized) from 43 cents ($1.72 annualized) [3] - Concerns about the sustainability of UPS's dividends arise due to its high payout ratio and declining free cash flow [4][6] Financial Performance - UPS's free cash flow has decreased from a peak of $9 billion in 2022, with only $742 million generated in the first half of 2025 against $2.7 billion paid in dividends [5][6] - JBHT's lower dividend payout ratio indicates a stronger ability to maintain dividend payments over the long term [6][18] Market Comparison - JBHT's intermodal volume grew by 6% in the second quarter of 2025, supported by strong performance in its eastern network [12] - UPS's revenue weakness is attributed to geopolitical uncertainty and high inflation, leading to a decline in package shipping volumes [11] Earnings Estimates - Zacks Consensus Estimate for JBHT indicates a 0.3% decrease in 2025 sales, but a 5.8% increase in 2026 [13] - For UPS, the 2025 sales estimate suggests a 3.9% decrease, with a 15.4% decrease in EPS for the same year [16] Valuation Metrics - JBHT is trading at a forward sales multiple of 1.09X, while UPS has a multiple of 0.81X, indicating that JBHT is perceived as more expensive [18] - JBHT has a Value Score of B, whereas UPS has a Value Score of A [18] Conclusion - JBHT's better price performance, environmental initiatives, and strong intermodal volumes position it as a more favorable investment compared to UPS, which currently has a Zacks Rank of 4 (Sell) versus JBHT's 3 (Hold) [19]

Core Insights - Knight-Swift Transportation Holdings Inc. (KNX) reported second-quarter 2025 adjusted earnings of 35 cents per share, beating the Zacks Consensus Estimate by a penny and improving 45.8% year over year, within the guided range of 30-38 cents [1][10] - Total revenues reached $1.86 billion, slightly missing the Zacks Consensus Estimate by 0.4% but improving 0.8% year over year; revenues excluding truckload and LTL fuel surcharge grew 1.9% year over year to $1.67 billion [1] Financial Performance - Total operating expenses decreased 0.3% year over year to $1.78 billion [2] - Truckload segment revenues totaled $1.07 billion, down 2.7% year over year due to a 2.8% decrease in loaded miles; adjusted segmental operating income grew 87.5% year over year to $58.40 million, with an adjusted operating ratio falling 260 basis points to 94.6% [3] - The Less-Than-Truckload (LTL) segment generated revenues of $337.72 million, up 28.4% year over year, driven by a 21.7% increase in shipments per day; adjusted segmental operating income decreased 36.8% year over year to $23.35 million, with an adjusted operating ratio rising 720 basis points to 93.1% [4][5] - Logistics segment revenues amounted to $128.29 million, down 2.6% year over year, with an adjusted operating income increase of 13.3% year over year to $6.71 million [5] - Intermodal revenues totaled $84.06 million, down 13.8% year over year, with a segment operating ratio increasing 230 basis points to 104.1% [6] - Revenues from All Other Segments increased 9% year over year to $74.44 million, attributed to warehousing and leasing businesses [7] Liquidity and Guidance - Knight-Swift ended the second quarter with cash and cash equivalents of $216.32 million, up from $209.48 million in the prior quarter; long-term debt decreased to $1.39 billion from $1.41 billion [8] - For Q3 2025, KNX expects adjusted earnings per share in the range of 36-42 cents, with truckload segment revenues expected to increase in the low single-digit percent sequentially and LTL segment revenues projected to grow between 20% and 25% year over year [11][12]