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CSX Q1 revenue increased 10 percent

Staff Writer | April 19, 2017
CSX Corporation announced first quarter 2017 net earnings of $362 million, or $0.39 per share, up from $356 million, or $0.37 per share, in the same period of last year.
CSX
CSX   $0.37 per share
Excluding a $173 million restructuring charge in this year’s first quarter results, adjusted earnings per share was $0.51.

Revenue for the quarter increased 10 percent to $2.87bn, reflecting volume growth across most markets, overall core pricing gains, increased fuel recovery, and favorable mix.

POST forecast was EPS $0.43 and revenue $2.73 billion.

Although the $173 million restructuring charge drove a 13 percent year-over-year increase in expenses for the first quarter, the company delivered strong efficiency savings of $123 million.

Looking forward, CSX is making adjustments throughout the company to improve asset utilization, achieve greater operations efficiency and reduce its cost structure.


 

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