(The Associated Press circulated the following on September 24.)
JACKSONVILLE, Fla. — Freight railroad company CSX Corp. said Tuesday that it expects recent storms along the Gulf Coast and the Midwest to cut its third-quarter earnings 6 cents to 8 cents per share and lower operating income by $40 million to $50 million.
Analysts expect the company to earn 95 cents per share on revenue of $2.92 billion, according to a survey by Thomson Reuters.
Most of the impact was related to writing down assets, interruptions in business, and expenses for rerouting shipments, the company said.
Jacksonville, Fla.-based CSX, which operates about 21,000 miles of track in 23 Eastern and Southern states, did not change its full-year or long-term profit guidance.
Shares of CSX rose 61 cents to close at $56.90.