Railroad company CSX falls after weak Q3 results
** CSX shares fall 5.1% to $33.65 in premarket trading
** Railroad company reports Q3 profit of 46 cents per share vs analysts' average estimate of 48 cents, according to data compiled by LSEG
** Revenue of $3.62 bln misses est. of $3.67 bln
** Operating ratio deteriorates 170 bps from the prior quarter to 62.6%; operating margin was 37.4% for the quarter
** Stephens analyst says lower revenue and storm impacts should drive lower operating margin sequentially, limiting 2H margin expansion
** CSX expects Q4 volume to rise modestly, with strength in chemicals, ag and food, and other merchandise offset by softer metals and automotive conditions, along with negative effects from hurricanes
** Expects Q4 revenue to moderate, driven by a ~$200 million headwind from lower fuel prices and softer coal markets
** "While the company is positioned for an eventual inflection in demand, visibility into the timing of that continues to be pushed further out" - BMO Capital Markets analysts
** Analysts say next catalyst for the stock will be the Nov. 7 investor day, CSX's first since 2018
** YTD, CSX up 2.3%
Reporting by Abhinav Parmar in Bengaluru
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