CSX Reports Q4 EPS $0.43 vs $0.44 Est; Revenues $2.95B vs $2.99B Est

CSX Corporation

today announced fourth quarter 2011 earnings of $0.43 per share, versus $0.38 per share in the same period last year. This represents a 13 percent year-over-year improvement in earnings per share and a fourth quarter record. The results were driven by revenues of nearly $3.0 billion, operating income of $841 million and an operating ratio of 71.5 percent. "CSX once again delivered record earnings per share while investing in resources to support high customer service levels and growth in the near- and long-term," said Michael J. Ward, chairman, president and chief executive officer. "Our performance in 2011 has set a strong foundation for growth, and CSX remains committed to achieving a 65 percent operating ratio by no later than 2015." For the full year, CSX generated record performance in revenue, operating income, operating ratio and earnings per share. Revenues increased 10 percent to $11.7 billion, operating income rose 11 percent to $3.4 billion, the operating ratio improved to 70.9 percent, and earnings per share improved 24 percent to $1.67.