logo-loader
viewCSX Corporation

CSX posts best-ever second quarter earnings of US$877mln

Earnings topped second-quarter estimates amidst solid revenue growth and improving operating efficiencies.

1531862328_rail.jpg
The Florida-based company surpassed expectations this quarter

Rail transport company CSX Corporation (NYSE:CSX) reported record second-quarter earnings of US$877mln, or US$1.01 per share versus US$510mln, or US$0.55 per share in the same period last year.

The earnings easily topped second-quarter estimates amidst solid revenue growth and improving operating efficiency.

The Florida-based company surpassed expectations with the average estimate of 10 analysts surveyed by Zacks Investment Research for earnings of US$0.86 cents per share.

"While we remain in the early stages of the transformation I am more confident this exceptional team can deliver on our longer term outlook," said CEO James Foote.

Revenue up, expenses down

Revenue for the second quarter increased 6% year-over-year to $3.10bn, while expenses declined 8% year-over-year or 2% when excluding prior year restructuring charges.

Operating income for the second quarter increased 34% to $1.28bn when compared to $957mln in the same period last year or 20% when compared to the adjusted operating income of $1.07bn reported in the second quarter of 2017.

CSX shares have increased 17% as of the beginning of the year.

At the end of trading on Tuesday, shares hit US$64.48, a climb of 18% in the last year.

 

Quick facts: CSX Corporation

Price: 61.31 USD

NYSE:CSX
Market: NYSE
Market Cap: $47.25 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: MariMed seeing strong sales numbers with Cannabis infused...

MariMed (OTCQB: MRMD) CEO Bob Fireman and SVP of sales Ryan Crandall joined Steve Darling from Proactive to discuss the company’s new cannabis-infused hot sauce. That sauce becomes the first cannabis product produced in Puerto Rico and sold in the U.S. Crandall telling Proactive the story behind...

2 hours, 53 minutes ago

2 min read