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CSX 1Q Net Up 14% As Intermodal Volume Increases

DOW JONES NEWSWIRES CSX Corp.'s (CSX) first-quarter earnings rose 14% as the railroad reported an increase in intermodal volume, though coal volume continued to slump Shares jumped 2.5%, to $23.00 after hours, as results topped analyst expectations. CSX, a big mover of coal from mines to seaports, continues to grapple with a slumping demand for coal--a result of falling prices for natural gas, high coal stockpiles and unseasonably warm weather. "Although utility coal-related headwinds are likely to be stronger in the second quarter, CSX remains on track to achieve year-over-year earnings growth in 2012," said Chairman and Chief Executive Michael J. Ward. Volume growth for the railroad has been anemic in recent months, increasing 0.6% in the latest period. The company underwent an abrupt management change in January when it named Chief Financial Officer Oscar Munoz to the post of operating chief and appointed Fredrik J. Eliasson as its new CFO. CSX has said the change stemmed from the company's ongoing effort to boost customer service and increase the efficiency of its network. CSX reported a profit of $449 million, or 43 cents a share, up from $395 million, or 35 cents a share, a year earlier. The per-share figures reflect the company's three-for-one stock split, which went into effect in June. Revenue climbed 5.6%, to $2.97 billion. Analysts polled by Thomson Reuters had most recently predicted per-share earnings of 38 cents on revenue of $2.92 billion. Total expenses were up 3.6%. Intermodal volume, which measures the movement of freight by two or more modes of transportation, increased 8.5%, as coal volume slumped 14%. Intermodal volume accounts for about 35% of CSX's overall business, while coal volume accounts for about 25%. -By Nathalie Tadena, Dow Jones Newswires; 212-416-3287; nathalie.tadena@dowjones.com

Stock News for Csx (CSX)
DateTimeHeadline
04/20/201509:31:15Statement of Changes in Beneficial Ownership (4)
04/17/201516:02:21Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
04/16/201516:28:44Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
04/16/201508:53:07Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
04/15/201511:30:34U.S. Stock Futures Rise on Earnings Surprises
04/15/201511:07:41Quarterly Report (10-q)
04/15/201510:50:34CSX Posts Better-than-Expected Profit, Boosts Dividend
04/15/201502:03:01MARKET SNAPSHOT: U.S. Stocks: Futures Slip After Retail Sales
04/14/201517:09:17CSX Fuel Savings Bring Higher Dividends, Solid Results
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04/14/201516:02:00CSX Corporation Announces First-Quarter Earnings, Dividend Increase...
04/14/201509:57:29MARKET SNAPSHOT: U.S. Stocks: Futures Firm Up Ahead Of Key Bank...
04/14/201508:25:00CSX (CSX) Q1 2015 Results - Earnings Call Webcast
04/14/201507:38:23Cowen sees tough year for railroad stocks
04/13/201517:39:26After Hours Gainers / Losers
04/13/201517:35:57Notable earnings after Tuesdayâs close
04/12/201521:03:18My K.I.S.S. Dividend Portfolio: 1st Quarter 2015 Update
04/12/201520:24:26Trains Must Climb A Steeper Grade
04/12/201509:18:08MARKET SNAPSHOT: B. Of A. Results Crucial To Financial Sector...
04/10/201521:06:56Bullish On CSX Into Earnings On Tuesday, And Long Term

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