CSX 2Q Profit More Than Doubles
July 21 2021 - 4:28PM
Dow Jones News
By Allison Prang
CSX Corp. said profit more than doubled in the second quarter as
revenue rose by a third and total expenses fell.
The railway company's net earnings were $1.17 billion. A year
earlier, profit was $499 million. Earnings were 52 cents a share,
up from 22 cents a share. According to FactSet, analysts were
expecting 37 cents a share.
Revenue was $2.99 billion and rose by 33% year-over-year.
Analysts were expecting $2.93 billion.
Expenses at the company fell 9% to $1.3 billion and interest
expense was slightly lower than a year ago. CSX's income tax
expense more than doubled from a year earlier.
Write to Allison Prang to allison.prang@wsj.com
(END) Dow Jones Newswires
July 21, 2021 16:27 ET (20:27 GMT)
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