CSX Q3 Earnings Top Views

reported better-than-expected earnings for the third quarter on Tuesday. The Jacksonville, Florida-based company posted quarterly net earnings of $507 million, or $0.52 per share, compared to $509 million, or $0.51 per share, in the year-ago period. Its revenue dropped 9 percent to $2.94 billion. However, analysts were expecting earnings of $0.50 per share on revenue of $2.98 billion. The average estimate among 44 Estimize users was for earnings of $0.51 per share and revenue of $3.06 billion. Its operating income totaled $933 million in the quarter, while operating ratio came in at 68.3 percent. CSX's expenses shrank 11 percent for the quarter. "CSX's third quarter results demonstrate the company's ability to leverage improving service while controlling costs in a dynamic environment where commodity prices and the strength of the U.S. dollar are challenging many of our markets," said Michael J. Ward, chairman and chief executive officer. "Our performance supports strong pricing and continued efficiency gains as we continue to drive value for customers and shareholders." CSX shares rose 1.41 percent to $28.10 in the after-hours trading session.