Earnings OutlookThe company lowered its 4Q24/2024 outlook for volume, profit, and margin expansion following impacts from recent hurricanes, softer than anticipated Metals and Auto volumes, lower Coal export benchmark prices and domestic volumes, and lower fuel prices.
Financial PerformanceManagement suggested that it will be challenging to deliver EBIT growth y/y with margins expected to deteriorate sequentially.
Operational RisksThe price target is being modestly lowered in light of the higher operational risks and lower earnings estimates.