The transportation sector has been affected by the outbreak of coronavirus, which is already turning for the more severe right into a widespread pandemic. Fourth-quarter earnings hitherto launched additionally don’t paint a rosy image (learn: Wining & Losing ETF Areas on Coronavirus Outbreak).
Whole earnings accounting for 75% of the sector’s market capitalization have been reported up to now. The underside line is down 8% on no income development. Earnings and income beat ratio got here in at 50% every as most business gamers managed to surpass on both earnings or revenues and some on each counts.
For a greater understanding, let’s delve into the outcomes of some well-known business gamers:
Transportation Earnings in Focus
The world’s largest package deal supply firm United Parcel Service UPS beat on the underside line however missed on revenues. Earnings of $2.11 had been a penny forward of the consensus mark whereas the highest line of $20.57 billion was marginally beneath the estimated $20.58 billion. For 2020, the corporate expects earnings per share within the vary of $7.76-$8.06.
Main railroads Union Pacific UNP, Kansas Metropolis Southern KSU and Norfolk Southern Corp NSC posted a combined bag. Union Pacific missed on earnings by a penny however beat on…