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CSX profit tops Wall Street estimate in Q3 2018

(Source: Reuters, October 16, 2018)

JACKSONVILLE, Fla. ó CSX Corp. on Tuesday reported quarterly profit that topped Wall Streetís view and raised its full-year revenue forecast, as the No. 3 U.S. railroad operator benefited from ongoing cost-cutting and higher prices for moving freight. Third-quarter net income at CSX almost doubled to $894 million, or $1.05 per share, topping the average estimate of 94 cents, according to Refinitiv data. Interruptions from Hurricane Florence, which included the loss of five miles of track due to flooding and revenue losses due to transit disruptions, reduced earnings by 2 cents per share during the latest quarter.

Full story: Reuters

Wednesday, October 17, 2018

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