"We feel good about 2011," Wick Moorman, chief executive of Norfolk Southern , said at a J.P. Morgan conference that was webcast. "We anticipate solid growth in everything except anything that's housing-related."
Coal demand will likely mount, he said, particularly in light of Japan's nuclear crisis.
Union Pacific's car loadings rose 5 percent so far this quarter and would have been up 6 percent if not for severe weather, leading to expected "solid growth in quarterly operating income" despite a five-cent impact from fuel costs, said Chief Financial Officer Rob Knight.
Wall Street analysts expect $1.32 per-share profit in the first quarter, on average, according to Thomson Reuters I/B/E/S.
CSX Corp reiterated its forecast of volume exceeding gross domestic product and industrial production growth, and that core pricing gains in 2011 will exceed inflation.
The company repeated its forecast of a resurgence in international demand, with export coal rising to between 35 million and 40 million tons this year from 30 million last year.
CSX is focused on using its existing assets more efficiently, and costs are well-contained with the exception of fuel, said David Brown, chief operating officer,
The railroad executives said they expect to pick up some business from the trucking industry, which faces a driver shortage, rapid fuel increases and highway congestion.
U.S. railroads reported total carload volume up 5.3 percent in the first 11 weeks of 2011 versus the same period last year, the Association of American Railroads said. (Reuters)
