(Source: Forbes, October 16, 2014)
NEW YORK — CSX Corporation, a leading railroad in the eastern U.S., reported its third quarter earnings on October 15. The company’s revenue grew 7.9%, to reach $3.2 billion on strong volume growth across commodities. However, revenue per unit remained sluggish due to export coal headwinds and an unfavorable domestic coal mix. CSX net profits improved 11.8% on account of an improvement in its operating ratio (operating expenses expressed as a percentage of revenue). An increase in net profits and lower share count helped boost earnings per share for the quarter by 13.3%, to reach $0.51.
Full story: Forbes