Railroads lost cargo to trucks in the third quarter, adding to a yearlong slide in profits as demand tumbled for coal, oil and metals. Intermodal cargo, goods hauled in containers, fell a second consecutive quarter for the first time since 2009, according to the Association of American Railroads, an industry trade group. A surplus of trucks has pushed down freight rates and lower diesel prices have chipped away at rail’s usual fuel-savings advantage, taking a toll on once-steady growth. CSX Corp., the first major North American railroad to post earnings, is expected to report Oct. 12 that adjusted earnings fell 17% as the decline in intermodal traffic compounded a commodities slump.
