Shares of CSX CSX are volatile in extended hours trading following the company’s second quarter results.
Revenue missed the analyst consensus by 0.31 percent at $3.2 billion versus $3.21 billion, marking the only TTM top line miss. Sales are up 6.3 percent from the same period last year on eight percent volume growth. The report further notes that growth in oil and gas markets are contributing to growth.
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Earnings for the quarter beat the Wall Street consensus by 3.92 percent at $0.53 versus $0.51. This figure compares to $0.52 for the same quarter in 2013.
The release also stated that CSX’s planned capital investment is $100 million for 2014.
CEO Michael Ward commented, “To propel service and capture growth opportunities, CSX is adding front-line personnel and making targeted investments in infrastructure and freight cars to efficiently grow our business and create competitive advantages for our customers.”
Shares of CSX were last trading at $31.05, down 0.32 percent.
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