CSX Stock Falls After Q2 Earnings Miss

CSX Corporation CSX shares are falling after posting a second-quarter earnings and sales miss.

Second-quarter earnings came in at $1.08 per share, missing estimates by 3 cents. Sales came in at $3.06 billion, missing estimates by $80 million.

"I am extremely proud of our dedicated CSX employees for once again achieving new record levels of efficiency this quarter, while also driving a significant improvement in safety," said CEO James M. Foote. "These results reflect the strength of our operating model, and combined with continued improvements in our best-in-class customer service, represent significant progress toward our goal of being the best run railroad in North America."

See Also: Canadian Pacific Chugs Higher On Q2 Earnings Beat

Highlights

• Revenues declined 1% year-over-year
• Expenses decreased 3% year-over-year
• Operating income grew 2% year-over-year

CSX's stock traded lower by 5.7% to $75 per share in Tuesday's after-hours session. The stock closed at $79.55.