CSX Corporation Surges On Record Q3 Results

CSX Corporation CSX shares surged Tuesday on record Q3 2014 results.

CSX announced “net earnings of $509 million, or $0.51 per share,” beating analyst estimates of $0.48 per share, with net earnings up from $455 million, or $0.45 per share, in the same period last year.

The company claimed “performance was supported by volume increases of 7 percent, with broad-based growth across nearly all markets CSX serves.”

Revenue was $3.2 billion, an 8 percent increase over the same period last year, beating the average analyst estimate of $3.15 billion.

The company produced operating income of $976 million and an operating ratio of 69.7 percent due to a “high level of demand and operations that remained stable.”

CSX expected to “sustain double-digit earnings growth and margin expansion in 2015, and continues to target a mid-60s operating ratio longer term.”

CSX Corporation traded in the aftermarket at $33.70, up 3.34 percent.