CSX Announces Positive Q3 Earnings Beating Estimates

CSX Corporation

reported-third quarter net earnings today of $463M or $0.46 per share beating estimates and up 5% from 3Q12. High revenues and strong operating results factored into this performance. Michael Ward, chairman, president and CEO commented, "The third quarter performance is an ongoing reflection of the company's ability to capitalize on the modest improvement in the economy with a relentless focus on customer service and asset efficiency." High volume and pricing gains influenced the $3B in revenue versus the estimated $2.95B. CSQ reported 3Q operating income of $854M and operating ratio of 71.5%. Sales were up 4% YoY. CSX's improved guidance now expects FY2013 earning to be slightly higher than 2012. The company continues their trajectory of a long term mid 60's operating ratio. The quarterly earnings conference call with the investment community will occur on October 16, 2013, at 8:30 a.m. Eastern time. The public may listen to the conference call by dialing 10 minutes prior at 1-888-EARN-CSX (888-327-6279) and asking for the CSX earnings call. (Individuals outside the U.S. should dial 1-773-756-0199.) A live webcast will be accessible and presentation materials will be posted on the company's website at http://investors.csx.com.