CSX will initiate the rail industry's third-quarter earnings season with its financial report on Thursday afternoon, marking the first earnings call with new CEO Steve Angel, who replaced Joe Hinrichs last month.
Wall Street analysts anticipate parsing every word from Angel regarding CSX's direction and stance on mergers, particularly after activist investors criticized Hinrichs for not engaging in merger talks earlier this year.
The recent UP-NS merger announcement on July 29, during Norfolk Southern's second-quarter earnings call, has heightened interest in the topic, with Canadian Pacific Kansas City being the last publicly traded railroad to report its quarterly earnings the following day.
Activist investors had been critical of Hinrichs for not engaging in merger talks earlier this year.
The earnings call is expected to provide clues about the economy and the rail industry's future, with analysts closely watching Angel's words on the direction of CSX.
Author's summary: Rail merger talks and economic insights to dominate earnings calls.