Transport and Diversified Industrials
Transport and Diversified Industrials Rail and Parcel
Class I rail carloads and intermodal
BTS monthly carloads remain below the 2015 peak. Intermodal recovered in 2024 and 2025 after a 2023 dip.
UPS and FedEx revenue
Parcel revenue peaked in the 2021 to 2022 e-commerce surge and has not returned to that run rate. FedEx years end 31 May.
Freight forwarder revenue
Robinson and Expeditors are rate-sensitive. Both reset hard after the 2021 to 2022 ocean and air-freight spike.
