(Source: Railway Age, April 20, 2022)
NEW YORK — CSX’s first-quarter 2022 financials included whopping increases of 21% in net earnings and 26% in diluted earnings per share, despite a drop in volume. CSX’s 1Q22 net earnings of $859 million, or $0.39 per share, compared to $706 million, or $0.31 per share, in the same period last year. Operating income was $1.28 billion compared to $1.10 billion in the prior-year period, a 16% increase. Revenue reached $3.41 billion for the quarter, increasing 21% year-over-year, as an overall revenue-per-unit increase of 24% more than offset a 2% decline in volume. First quarter operating income included $17 million of expense related to increases in environmental reserves and a $20 million gain from property sales recognized from the 2021 transaction with the Commonwealth of Virginia.
Full story: Railway Age