Skip to main content

Market Overview

CSX Q3 Earnings Top Views

Share:

CSX Corporation (NYSE: CSX) 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.

 

Related Articles (CSX)

View Comments and Join the Discussion!

Posted-In: profitEarnings News

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com