Railroads Predict Muted Earnings Growth as Demand Slows for Some Shipments
U.S. railroad operators have tepid outlooks for 2023 as they brace for a slowdown in demand for manufactured goods among other products and higher costs.
Executives from
Norfolk Southern Corp.
NSC -5.05%
and
Union Pacific Corp.
UNP -1.51%
said inflation is hurting manufacturers and the housing market, which are among the biggest customers for rail.
“Our outlook for 2023…