Railroads Gain as Cargo Shifts to Rail From Highways
Union Pacific UNP 0.86%increase; green up pointing triangle and Norfolk Southern NSC 0.86%increase; green up pointing triangle both reported higher profit and revenue in the recent quarter, as more shippers continue to move their cargo from truck to rail.
Demand for rail service increased throughout the third quarter, Norfolk Southern Chief Executive Mark George said Thursday, adding “a tighter trucking market highlighted rail’s competitive advantages and underscored the opportunity for a more efficient, capacity-enhanced freight network.”
