CSX profit drops 10% despite railroad delivering 3% more freight in first quarter
CSX dealt with weather challenges and the closure of the Baltimore port as the railroad saw its first-quarter profit slip 10%, but it still managed to keep most of its customers happy with reliable service.
The Jacksonville, Florida-based railroad said Wednesday that it earned $893 million, or 46 cents per share, in the first three months of the year as it handled 3% more freight. That’s down from $987 million, or 48 cents per share, a year ago.
The results were slightly better than Wall Street predicted. The analysts surveyed by FactSet Research expected CSX to report earnings per share of 45 cents.
CEO Joe Hinrichs said he was reminded again of one of the key lessons he’s learned in his first 18 months on the railroad: “There never really is an easy quarter.”
Hinrichs said he was pleased the railroad was able to deliver consistent customer service that helped it attract more business. He said many of the markets CSX serves are seeing “favorable trends” and more customers are willing to give the railroad more of their business because CSX has delivered better service consistently.
Related articles
Interest rates and RRR may see cuts
China may need additional monetary easing measures such as cutting interest rates or the reserve req2024-05-20With Ice, Snow, Hospitality, Harbin Becomes Brightest Star of Tourism in China
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-20Shutterbug in Northeast China Records Growing Winter Sport Popularity
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-20Youthful Spirits Revitalize Life of Aged Students
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-20China to initiate issuance of ultra
An aerial drone photo taken on March 29, 2024 shows a construction site on the expressway linking ea2024-05-20Kite Industry Flying High in East China Village
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-20
atest comment