CSX: Chemicals and Agricultural/Food Products Up, Coal Down in 4Q -- Commodity Comment
January 21 2021 - 07:09PM
Dow Jones News
By Josh Beckerman
CSX Corp. said fourth-quarter fell 2% to $2.83 billion, as
intermodal growth was more than offset by lower fuel surcharge
revenue and coal declines.
On its 4Q highlights:
"Chemicals increased due to higher shipments of plastics, waste
and crude oil, partially offset by lower shipments of frac sand and
natural gas liquids."
"Agricultural & Food Products increased due to higher
shipments of export grains, food and consumer products, and
ethanol."
"Fertilizers revenue increased as growth in long-haul fertilizer
shipments was partially offset by declines from fewer short-haul
phosphate shipments."
"Coal decreased as domestic utility coal demand was negatively
impacted by competition from natural gas prices and export coal
declined due to reduced international shipments of thermal coal."
Looking forward, CSX expects the coal market to improve from 2020
trough levels.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
January 21, 2021 18:54 ET (23:54 GMT)
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