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CSX railroad profit up 9% on higher fuel surcharges, rates
12 days ago - By Chron
OMAHA, Neb. - CSX railroad hauled in 9% more profit in the fourth quarter even though it carried less cargo because it received more money for fuel surcharges and higher shipping rates.
The Jacksonville, Florida-based railroad said Wednesday that it earned $1.02 billion, or 49 cents per share, in the quarter. That's up from $934 million, or 42 cents per share, the year before.
The results topped Wall Street expectations as the railroad continued to improve its operations. The 27 analysts surveyed by FactSet expected CSX to report earnings of 47 cents per share.
President and CEO Joe...
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