CSX Profit Tops Analysts’ Estimates as Autos Lead Volume Gains
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CSX Corp., the third-largest U.S. railroad by 2009 revenue, reported second-quarter profit that topped analysts’ estimates as improved automobile sales led an increase in rail traffic.
Net income rose 36 percent to $414 million, or $1.07, from $305 million, or 77 cents, a year earlier, Jacksonville, Florida-based CSX said yesterday in a statement. The average estimate of 25 analysts surveyed by Bloomberg was profit of 97 cents a share. Revenue gained 22 percent to $2.66 billion.