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UPDATE: CSX Corp. (CSX) Tops Q3 EPS by 2c

October 13, 2015 4:03 PM EDT
(Updated - October 13, 2015 4:37 PM EDT)

CSX Corp. (NYSE: CSX) reported Q3 EPS of $0.52, $0.02 better than the analyst estimate of $0.50. Revenue was $2.94 billion, versus the consensus at $2.98 billion.

“CSX’s third quarter results demonstrate the company’s ability to leverage improving service while controlling costs in a dynamic environment where commodity prices and the strength of the U.S. dollar are challenging many of our markets,” said Michael J. Ward, chairman and chief executive officer. “Our performance supports strong pricing and continued efficiency gains as we continue to drive value for customers and shareholders.”

CSX is still targeting its full-year expectations for earnings per share growth in the mid-single digits and meaningful margin expansion as it progresses toward its longer-term goal of a full-year operating ratio in the mid-60s. These targets remain intact despite expectations for 2015 coal revenue to decline approximately $450 million primarily due to continued low natural gas prices and high inventory levels. In that regard, the company now expects domestic coal volume to decline by more than 10 percent in 2015, while the full-year outlook for export coal volume remains approximately 30 million tons. These significant coal headwinds are now also expected to continue in 2016.

For earnings history and earnings-related data on CSX Corp. (CSX) click here.



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