CSX Earnings: Here’s Why Shares are Up Now
CSX Corp. (NYSE:CSX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.08%.
CSX Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 4.65% to $0.45 in the quarter versus EPS of $0.43 in the year-earlier quarter.
Revenue: Decreased 0.27% to $2.96 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: CSX Corp. reported adjusted EPS income of $0.45 per share. By that measure, the company beat the mean analyst estimate of $0.4. It beat the average revenue estimate of $2.92 billion.
Quoting Management: “CSX continues to create value by supporting its customers with high levels of service in an economy that is still gradually recovering,” said Michael J. Ward, chairman, president and chief executive officer. “At the same time, we are prepared for the economy to accelerate and have great confidence in the long-term outlook for the business.”
Key Stats (on next page)…