20 January 2010

Why CSX and the RRs took a hit today

This clunky non-Tableau chart shows the DOE stats for coal stockpiles at US electrical utilities. A quick eyeballing tells us that there are about 50 million tons in storage above the mid-00s average. That works out to about 500,000 railcars or 5000 unit trains of demand sitting at utilities. And that's without assumptions about ongoing depressed demand from consumers and industry. So RR EPS will have to wait for at least a quarter before we know where the New Normal is.

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