CSX Corporation Moves Higher As Q4 Outlook Is Re-affirmed

CSX Corporation CSX pushed toward session highs Wednesday following the cmpany re-affirming its outlook.

The company’s press release noted that CSX is “on track to deliver fourth-quarter financial results similar to the levels achieved in the third quarter, as service remains stable in the midst of the fall peak and the beginning of strong winter weather conditions in the Northeast.”

According to Chief Financial Officer Fredrik Eliasson, "Fourth-quarter volume is tracking at the level we expected, and we are seeing strength across nearly all markets we serve. Longer term, we remain focused on the three key levers that deliver superior shareholder value: pricing above inflation, driving ever more efficient operations and growing our merchandise and intermodal businesses faster than the economy by developing new customers on our network, investing in our intermodal business and leveraging the benefits of the new energy environment."

CSX Corporation shares extended Tuesday’s gains and continued higher Wednesday, recently trading at $37.19, up 2.02 percent from Tuesday’s close.