Rail transport company CSX (NYSE:CSX) warned that domestic coal shipments have tailed off significantly in the fourth quarter.
The company said it still expects to move around 30mln tons of export coal this year, but a lower level of domestic coal shipments means that full-year earnings per share growth is likely to be around 3%, factoring in the effect of a property sales worth about five cents a share that is expected to complete before the end of the year.
Chief financial officer Frank Lonegro said the company still expects to achieve a meaningful expansion of its margin in 2015, despite the strength of the dollar and the torpid state of commodity markets.
Shares in CSX slipped 2.1% to US$27.99 in the morning session.
