CSX Q1 results top estimates amid 'solid' volume climb

By Yasin Ebrahim

Investing.com -- CSX reported Thursday first-quarter results that beat analysts' forecasts, driven by "solid" climb in volume growth and higher prices.

CSX Corporation (NASDAQ: CSX) shares gained 1% in after-hours trade following the report.

CSX announced earnings per share of $0.48 on revenue of $3.71 billion. Analysts polled by Investing.com anticipated EPS of $0.43 on revenue of $3.59B.

Revenue for the first quarter rose 9% over the prior year, underpinned by "solid volume growth in merchandise and coal, higher fuel surcharge, and pricing gains," the company said.

Looking ahead to fiscal 2023, the railroad company said it expected low single digit revenue ton-mile growth for the full year, and capex expected to be about $2.3 billion.

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