7 pm: 68°FPartly Sunny

9 pm: 61°FMostly Clear

11 pm: 54°FClear

1 am: 52°FClear

More Weather

CSX 3Q rail profit drops 2 percent

Oct. 17, 2012 @ 12:00 AM

OMAHA, Neb. -- CSX Corp. says both its third-quarter profit and revenue slipped 2 percent because the railroad delivered fewer carloads of coal and crops, and fuel surcharge revenue declined.

CSX says the railroad's earnings per share actually increased 2 percent because it had fewer shares outstanding.

The Jacksonville, Fla.-based railroad said Tuesday that it generated $455 million net income, or 44 cents per share. That's down from $464 million, or 43 cents per share.

Revenue fell 2 percent to $2.89 billion as the mix of goods it carried changed. Total volume was down about 1 percent.

Analysts surveyed by FactSet expected CSX to report earnings of 43 cents per share on $2.94 billion revenue.

CSX shares rose nearly 2 percent to $22 in after-hours trading.

(u'addcomment',)

Comments

The Herald-Dispatch welcomes your comments on this article, but please be civil. Avoid profanity, obscenity, personal attacks, accusations of criminal activity, name-calling or insults to the other posters. Herald-dispatch.com does not control or monitor comments as they are posted, but if you find a comment offensive or uncivil, hover your mouse over the comment and click the X that appears in the upper right of the comment. If you do not want your comment to post to your personal Facebook page, uncheck the box below the comment.