viewCSX Corporation

CSX warns of slow-down in domestic coal shipments

Domestic coal shipments have tailed off significantly in the fourth quarter.

Coal shipments for exports have held up well

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.

Quick facts: CSX Corporation

Price: 70.7 USD

Market: NYSE
Market Cap: $54.09 billion

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