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Apr 16, 2019

CSX earnings beat analysts' expectations

CSX

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JACKSONVILLE, Fla. (AP) -- CSX Corp. (CSX.O) on Tuesday reported first-quarter net income of $834 million.

On a per-share basis, the Jacksonville, Florida-based company said it had profit of $1.02.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.

The freight railroad posted revenue of $3.01 billion in the period, which met Street forecasts.

CSX shares have climbed 22 per cent since the beginning of the year, while the Standard & Poor's 500 index has climbed 16 per cent. In the final minutes of trading on Tuesday, shares hit $75.80, a rise of 34 per cent in the last 12 months.