CSX Q1 revenue increased 10 percentStaff 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 $0.37 per share
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. ■