CSX Earnings: CSX Stock Climbs Higher After Beating Q1 EPS Estimates

CSX (NASDAQ:CSX) earnings for first quarter of 2020 have its stock unmoving after-hours Wednesday. This comes after reporting diluted earnings per share (EPS) of $1. That’s above Wall Street’s estimate of 94 cents per share. The railroad company’s revenue of $2.86 billion also matches analysts’ estimates for the quarter.

CSX Earnings: Q1 EPS Come in Above Wall Street's Estimates

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Here are some additional highlights from the most recent CSX earnings report.

  • Diluted per-share earnings are down roughly 1.96% from $1.02 in the same period of the year prior.
  • Revenue comes in 4.98% lower than the $3.01 billion reported in the first quarter of 2019.
  • Operating income of $1.18 billion is a 3.28% decrease year-over-year from $1.22 billion.
  • The CSX earnings report also has it bringing in a net income of $770 million.
  • This is 7.67% worse than its net income of $834 million from the same time last year.

James Foote, president and CEO of CSX, said this in the earnings report:

“I am extremely proud of our outstanding CSX employees for keeping the railroad running at such a high level during these unprecedented times and enabling the delivery of critical goods across the country. Their hard work and dedication over the past few weeks, and throughout our transformation, have put CSX on the strongest footing it has ever been heading into this period of economic uncertainty.”

CSX doesn’t include guidance in its most recent earnings report. That makes sense as many companies are withholding outlooks due to the novel coronavirus pandemic.

CSX stock was up 2.23% after-hours Wednesday.

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/2020/04/csx-earnings-dip-stock-despite-beat/.

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