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More efficient operations helps CSX beat estimates, despite revenue drop
2015-07-15 06:24:23| Railroads - Topix.net
Despite a disappointing second quarter for Class 1 railroads, CSX Corp was able to remain above the fray, beating analyst's earnings per share estimates by 3 cents and growing year-over-year net earnings by nearly 5 percent to $553 million. The market liked what it saw: CSX closed at $32.07 per share but jumped in afterhours trading after earnings were released, peaking at $32.29 shortly after 5 p.m. Although the company's revenue declined by 6 percent to $3.06 billion, CSX posted earnings per share of 56 cents per share.
Tags: operations
drop
helps
beat
Category:Transportation and Logistics