Despite mounting uncertainty over tariffs, trade policy and the economy, most major railroads held firm on their 2025 outlooks — contrasting with a wave of guidance cuts across other industries.
Among the five publicly traded Class I railroads, Canadian National, Norfolk Southern and Union Pacific kept their guidance intact, while Canadian Pacific Kansas City and CSX made slight downward adjustments during their first-quarter earnings calls over the past three weeks.
The guidance serves as a key...