(Reuters circulated the following article on January 24.)
CHICAGO — Railroad operator CSX Corp. on Tuesday said fourth-quarter net profit rose, boosted by higher real estate sales and lower interest expense, beating analysts’ expectations.
Net profit rose 49 percent to $237 million from $159 million a year earlier. Per-share earnings were up 45 percent to $1.03 from 71 cents. Wall Street analysts had expected 90 cents a share, according to Reuters Estimates.
Revenue for the quarter was $2.2 billion, below analysts’ average forecast of $2.34 billion.
“We enter 2006 with a strong foundation, an economic environment that favors rail transportation, and momentum behind our key strategies,” Chief Executive Officer Michael Ward said in a statement. “In addition, we are on schedule with our capacity-expansion plans to further drive value for our customers and shareholders.”
The Jacksonville, Florida-based company said plans to improve operations had not been hampered by the need to repair infrastructure on the Gulf Coast damaged by hurricanes.