CSX Earnings: CSX Stock Chugs 2% Higher on EPS Q3 Beat

CSX (NASDAQ:CSX) earnings for the railroad company’s third quarter of 2019 has CSX heading higher on Wednesday. This is due to its earnings per share of $1.08 on revenue of $2.98 billion. For comparison, Wall Street was expecting EPS of $1.01 on revenue of $2.98 billion for the period.

CSX Earnings: CSX Stock Chugs 2% Higher on EPS Q3 Beat

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Here are some of the finer details from the most recent CSX earnings report.

  • The company’s per-share earnings for the quarter were up 3% from $1.05 in the same time last year.
  • Revenue reported during the quarter was down 5% YoY.
  • CSX also saw its expenses for the quarter decrease 8% to $1.69 billion in the third quarter of 2019.
  • The freight company’s operating income comes in at $1.29 billion.
  • That’s largely unchanged from its operating income in the third quarter of 2018.
  • CSX earnings also have net income coming in at $856 million, which is a 4% decrease from net income of $894 million in the same period of the year prior.

James Foote, President and CEO of the company, has this to say about the CSX earnings report.

“I am extremely proud of our dedicated team of CSX railroaders for once again setting new records for operating efficiency, customer service, and safety this quarter. These results reflect our continued commitment toward being the best run railroad in North America and providing our customers with best-in-class service.”

CSX stock was up 2.54% in after-hours trading on Wednesday. It was down a quarter of a percent when markets closed today. The stock is up 11.65% since the start of the year.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2019/10/csx-earnings-send-stock-higher/.

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