CSX Corp. Meets Q4 Views; Stock Unmoved In Extended Session
CSX Corp. (NYSE: CSX) was little-changed in Tuesday's extended session after posting fourth quarter earnings in line with expectations.
The Jacksonville, Florida railroad company also reiterated an earlier forecast calling for double-digit earnings growth in 2015.
CSX changed hands recently at $33.80, up $0.25 cents.
Fourth-quarter net earnings grew 15 percent to $491 million, or $0.49 cents a share, from $426 million, or $0.42 cents a share a year earlier.
Revenue grew to $3.19 billion, from $3.02 billion last year.
Wall Street expected earnings of $0.49 cents a share, on revenue of $3.18 billion.
Revenue from hauling coal increased 6 percent to $722 million in the quarter, while industrial sector revenue grew 7 percent to $1.02 billion.
Lower fuel prices decreased expenses by $63 million.
Total operating income for the recent period increased 11 percent to $901 million, and the operating ratio improved 140 basis points to 71.8 percent.
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