(Source: Associated Press, January 26, 2023)
CSX hauled in 9% more profit in the fourth quarter as the railroad hauled less cargo but charged higher shipping rates and tacked on more fuel surcharges. The railroad said Wednesday that it earned $1.02 billion, or 49 cents per share, last quarter. That’s up from $934 million, or 42 cents per share, the year before. CSX said its revenue increased 9% to hit $3.73 billion. Increases in fuel surcharges and shipping rates drove revenue higher even though volume slipped 2%.
Full story: Associated Press