(Source: Associated Press, July 20, 2022)
CSX on Wednesday delivered slightly better profit in the second quarter even though volume was flat and the railroad still struggled to handle all the goods companies wanted to ship because it is having a hard time hiring. CSX said its profits grew 5% to $1.18 billion, or 54 cents per share. That’s up from $1.17 billion, or 52 cents per share, a year ago. Without a one-time gain on a real estate sale, the railroad earned 50 cents per share. The freight railroad’s revenue jumped 28% to $3.82 billion in the period as CSX increased shipping rates and charged customers more fuel surcharges in response to soaring diesel prices.
Full story: Associated Press