Published on 18 Dec 2023 on Zacks via Yahoo Finance
3 Transportation Stocks Poised to Continue Solid Run in 2024
The Zacks Transportation sector has been unfavorably affected by headwinds like increasing fuel costs and supply-chain woes. With oil prices moving north, fuel costs flared up significantly, hurting the bottom-line performance of transportation stocks. This is because fuel expenses represent one of the major input costs for transportation players.
Supply-chain woes have also resulted in elevated costs. Also, staff shortages led to multiple flight cancelations, affecting profitability.
Due to the above-mentioned headwinds, the sector has declined 16.5% year to date.